NEWS BULLETIN

May 09, 2018 --- Vol. 24, No.11May 2018

Hilcorp only bidder in state areawide Cook Inlet sale

Hilcorp Alaska was the only bidder in today's areawide Cook Inlet oil and gas lease sale, bidding on eight tracts, some 16,636 acres, for an apparent high bid total of some $300,000, the Alaska Division of Oil and Gas said after the public bid opening.

The division received no bids in the Alaska Peninsula areawide sale.

Division Director Chantal Walsh said after the sale that Hilcorp's bids indicated the company was still exploring and looking for both oil and gas.

Two of the tracts receiving bids are in Cook Inlet, east of the Trading Bay unit. Walsh said those tracts were an extension of the Middle Ground Shoal anticlinal trend and an offset to Trading Bay.

One of those tracts, 292, received the highest bid in the sale, $25 per acre, for a total of $64,000. That tract is adjacent on the east to the Trading Bay unit, which Hilcorp operates. The other Cook Inlet tract on which Hilcorp bid, 288, is southeast of tract 292, between Trading Bay and the Kitchen Lights unit, operated by Furie.

Onshore, Hilcorp bid on six tracts on the lower Kenai Peninsula, one each east and west of Deep Creek, one between the Nikolaevsk and North Fork units, and two adjacent on the east to the Cosmopolitan unit. Hilcorp is the operator at Deep Creek and Nikolaevsk; Glacier Oil & Gas is the North Fork operator; BlueCrest is the Cosmopolitan operator.

- KRISTEN NELSON

Editor's note: See story in May 13 issue, available online Friday, May 11 at www.PetroleumNews.com

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