CHEVRON: Chevron, ASRC and BP finalize lease agreement

0 Comments | M2 Presswire, June, 1998

M2 PRESSWIRE-5 June 1998-CHEVRON: Chevron, ASRC and BP finalize lease agreement (C)1994-98 M2 COMMUNICATIONS LTD RDATE:040698 SAN FRANCISCO -- Chevron U.S.A. Inc., the Arctic Slope Regional Corp. (ASRC) and BP Exploration (Alaska) Inc. (BPX) announced today that they have finalized a long-term lease agreement for the exploration and development of ASRC's oil and gas interests in the Kaktovik area of the North Slope of Alaska.

Terms of the agreement were not disclosed. "We are pleased to continue our long-standing relationship with Chevron and BPX," said Jacob Adams, president and chief executive officer of ASRC. "We have worked together for nearly 15 years to evaluate ASRC's mineral interests in the Kaktovik area. Although we cannot specifically comment on details...