ENERGY & ENVIRONMENT
From Times Staff and Wire Reports
Unocal, Marathon Oil Trade Alaska Well Sites: As another step in reorganizing its Alaska operations, Union Oil Co., a subsidiary of Unocal Corp., agreed to swap oil properties and change operations with Houston-based Marathon Oil Co. in Alaska’s Cook Inlet area. Unocal will get Marathon’s current interest in the Swanson River field and become operator of the Dolly Varden and Steelhead platforms and the Trading Bay production facility. Marathon will take Unocal’s working interest in the Beaver Creek, Kenai gas field and its Cannery Loop Unit. Layoffs are expected in the exchange, to be completed by Dec. 1, though neither company would say just how many jobs would be lost.
