May 09, 2007
Wednesday PM

Alaska Governor Sarah Palin is pleased with the Superior Court ruling released earlier today that moves Point Thomson closer to development.

Today, State of Alaska Superior Court Judge Peter A. Michalski dismissed with prejudice the lawsuit that ExxonMobil filed against the state, asking for damages for the state's decision to terminate the Point Thomson Unit. This ruling brings the state one step closer in its effort to bring this valuable resource into production. The judge's ruling precludes ExxonMobil from suing the state to recover damages for its decision to terminate the Point Thomson Unit.

The Commissioner of the Department of Natural Resources (DNR) terminated the Point Thomson Unit at the end of 2006. ExxonMobil, BP, Chevron and ConocoPhillips filed administrative appeals challenging DNR's decision. ExxonMobil also filed a separate action asking for an award of damages. Judge Michalski ruled that ExxonMobil was not entitled to recover damages from the state, and the administrative appeal was the right forum for the former lessees to challenge the unit termination action.

Source of News:

Office of the Governor
www.gov.state.ak.us

 

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