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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Atlantic Coal | LSE:ATC | London | Ordinary Share | GB00B142G994 | ORD 0.07P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.09 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
RNS No 3216r ATLANTIC RICHFIELD COMPANY 5th August 1998 ARCO Alaska, Chevron USA Form North Slope Alliances ANCHORAGE, Alaska, Aug 5 / -- ARCO Alaska, Inc. and Chevron USA Inc. announced today the signing of two agreements that will quicken the pace of oil exploration in more than 2.8 million acres on Alaska's North Slope between the Colville and Canning Rivers. The agreements provide for equal ownership of leases recently acquired in Alaska State Lease Sale 87 and other leases on the North Slope of Alaska. The first agreement provides for joint exploration and appraisal of an approximate 4,000-square mile area including open acreage and leases acquired bx ARCO and Chevron during Lease Sale 87. Under the terms of the agreement, ARCO and Chevron will each own a 50% interest in 35 tracts, representing approximately 200,000 total gross acres, located southwest of the existing Kuparuk and new Alpine oil fields. This includes 13 jointly acquired leases, in addition to four tracts purchased by Chevron and 18 tracts acquired by ARCO at Lease Sale 87. ARCO has been designated as exploration and development operator in the agreement. A second alignment agreement encompasses the McCovey/Salmon area, which includes 196,000 offshore acres north of the Prudhoe Bay oil field in the Beaufort Sea. Under the agreement, ARCO and Chevron will each have one-half interest in 16 tracts in this area. ARCO has been designated as exploration and development operator for the project. "We're pleased to partner with Chevron on new exploration and growth opportunities," said ARCO Alaska President Kevin Meyers. "We are looking forward to continuing the cooperation shown by the joint ARCO-Chevron team that prepared for Lease Sale 87. "We're pleased to be investing in Alaska and we enjoyed the opportunity to again bid with ARCO for North Slope leases," Chevron Vice President Espy Price said. "We see a lot of technical synergy between Chevron and ARCO." Meyers and Price also cited Lease Sale 87, the state's first areawide lease sale, as an excellent example of how the state is working to encourage oil exploration and development. ARCO and Chevron are already partners in the Hammerhead and Kuvlum units in the Beaufort Sea northeast of the Prudhoe Bay oil field. ARCO acquired these federal leases in its merger with Union Texas Petroleum Holdings, Inc. UTP is now a wholly-owned subsidiary of ARCO. Chevron is the designated exploration and development operator in the Hammerhead and Kuvlum units. ARCO Alaska is a subsidiary of Los Angeles-based ARCO (NYSE: ARC). CONTACT: Dawn Patience of ARCO Alaska, Inc., 907-265-6134; or Dean O'Hair, 425-497-5019, or Corry Woolington, 713-754-5612, both of Chevron USA, Inc. Web site: http://www.arco.com END MSCFEFLBVVKFBKE
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