NEWS BULLETIN

July 06, 2015 --- Vol. 21, No. 27July 2015

Hilcorp acquiring XTO's Cook Inlet assets

Hilcorp Alaska has executed an agreement to purchase XTO Energy's Middle Ground Shoal assets in Cook Inlet, Hilcorp Alaska spokeswoman Lori Nelson said today in an email.

Nelson said those assets include two offshore platforms, "A" and "C", and a tank facility and offices in Nikiski. XTO predecessor Cross Timbers acquired the assets from Shell in 1998. XTO is now a subsidiary of ExxonMobil.

The platforms were built in 1965 and are producing some 1,750 barrels of oil per day

Hilcorp said it anticipates making employment offers to all 31 employees operating the Middle Ground Shoal assets.

Pending state and regulatory approval Hilcorp hopes to close the transaction this fall.

- KRISTEN NELSON

See story in July 12 issue, available online Friday, July 10 at www.PetroleumNews.com


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