Alaska agency approves $7.5M loan for gas company purchase

3 months 2 weeks 5 days ago Friday, April 24 2020 Apr 24, 2020 April 24, 2020 7:54 AM April 24, 2020 in News - AP Texas Headlines

ANCHORAGE, Alaska - A bid to buy a struggling Alaska gas producer has received backing from a state agency that approved a $7.5 million loan for the purchase. Alaska Journal of Commerce reported the Alaska Industrial Development and Export Authority board of directors voted earlier this month to approve the loan to Hex LLC to buy Furie Operating Alaska LLC. The approval is expected to provide the means to complete a $15 million bid made in a December bankruptcy auction for Furie. It's a Texas-based natural gas producer that operates the Kitchen Lights Unit Project in Cook Inlet.

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