Alaska Slams Oil Firm Over Illegal Flaring | Anchorage News

Alaska regulators slapped Mustang Holding LLC with a $741,520 fine for illegally flaring 112 million cubic feet of natural gas over five months at their North Slope oil field — a resource legally owned by Alaskans. Though initially permitted for testing, the flaring continued past its deadline, and despite the company’s claims of unintentional waste and incomplete equipment, the state upheld the full penalty. This isn’t the first rodeo for the Southern Miluveach Unit, which has a history of financial missteps and even foreclosure. Now owned by Finnex LLC, the site is being retooled for 5,000 barrels of oil daily — but whether this marks a fresh start or another chapter in regulatory trouble remains to be seen. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/5742bad2a63af0b2