Oil company owed $75M from Alaska prepares to pause drilling
August 6, 2017
ANCHOR POINT, Alaska (AP) — An oil company that the state owes about $75 million in refundable tax credits to is preparing to pause drilling off the shore of Alaska.
Benjamin Johnson, the CEO of Texas-based BlueCrest Energy Inc., said the company is currently drilling a lengthy production well that should be ready to flow oil in September.
But after that, the company might need to suspend drilling operations until alternative financing is secured, the Alaska Journal of Commerce reported (http://bit.ly/2wvbLTE ).
BlueCrest Energy is the sole owner and operator of the Cosmopolitan oil proje...