NordAq Energy, Inc.

• Author: Slaten, Russ
• Position: INSIDE ALASKA BUSINESS - Contract with investment group Chinanx - Brief article

NordAq Energy, Inc., an independent oil and gas exploration and production company based in Alaska, signed an agreement for up to $90 million with private Chinese investment group Chinanx. This investment will fund the development of NordAq's extensive Alaska acreage portfolio. The first tranche of $20 million was received September 9.

The $90 million Chinanx investment, along with a debt facility of up to $150 million, will fund NordAq's drilling program on its North Slope and Cook Inlet acreage. The program will target gross unrisked...