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News-Miner opinion: The Daily News-Miner received the news with considerable interest that the Alaska state development bank has moved into final negotiations for selling a problematic North Slope crude oil
Some of the players in a failed North Slope oil project want to revive the state-backed field under a new name.
January 29th | Leaders of the state development bank now must decide what to do with a failed North Slope oil project in which they have invested $70 million. The Alaska Industrial Development and Export Authority took control of the Mustang project in December following years of fits and starts by former operator Brooks Range Petroleum Corp. that ultimately led the state-owned authority to foreclose on the project assets. Approximately a year ago the AIDEA board of directors approved what ended up being the last in a series of amendments to its $70 million total equity investment...
Alaska development bank forecloses on oil field assets after $70 million investment Published January 21 Share on Facebook Print article Leaders of the state development bank now must decide what to do with a failed North Slope oil project in which they have invested $70 million. The Alaska Industrial Development and Export Authority took control of the Mustang project in December following years of fits and starts by former operator Brooks Range Petroleum Corp. that ultimately led the state-owned authority to foreclose on the project assets. Approximately a year ago the AIDEA board of...