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Exxon-Mobil Sues State Of Alaska Save Email Print

A | A | A

(May 13, 2008)—Oil companies say Alaska should pay $800 million in damages.

They claim the state breached a deal when it revoked gas and oil leases on a North Slope oil field.

Exxon Mobil Corp. filed the claim with the Alaska Department of Natural Resources on behalf of itself and lease partners Monday over the revocation of Point Thomson oil and gas leases.

Separately, the Irving, Texas-based company filed a request for reconsideration of a gas field development plan

it submitted but was rejected by Resources Commissioner Tom Irwin last month.

Exxon's filing were first reported Monday by Anchorage television station KTVA.

The state had revoked the leases, claiming the companies were not trying to develop the fields.

Irwin did not immediately return a message left Monday evening on his cell phone.

Point Thomson holds nearly one-fourth of the 35 trillion cubic feet of natural gas reserves the state and the industry hope to one day ship in a gas line to Midwestern markets.


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Posted by: Lauren Location: Coolidge on May 13, 2008 at 09:36 AM
Stupid oil companies they have so much money that`s gone to their head they want mor and more.

Posted by: dude Location: texas on May 13, 2008 at 09:02 AM
poor exxon, i guess they want us to feel sorry for them, after all, they only made a profit of 40 billion dollars last year. thats 40 billion above operating cost,wages,insurance. if they dont get that $800 million they are asking for they might only make $39.2 billion dollars. poor exxon.

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