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NEWS BULLETIN

January 03, 2012 --- Vol. 18, No. 1January 2012

Hilcorp has assumed operations of Cook Inlet assets

The sale of Union Oil Company of California’s Cook Inlet assets to Hilcorp Alaska LLC has closed, Hilcorp and Chevron said this morning.

Union is a wholly owned indirect subsidiary of Chevron.

The companies said Hilcorp assumed operation of Union’s Cook Inlet assets Jan. 1.

The sale was announced in July; financial terms were not announced.

Assets in the sale include Union Oil contracts and interests in the Swanson River, Granite Point, Middle Ground Shoals, Trading Bay and MacArthur River fields; interests in 10 offshore platforms; interests in onshore gas fields including the Ninilchik unit and the Beluga River unit; and two gas storage facilities.

The sale also includes interests in the Cook Inlet Pipe Line Company and Kenai Kachemak Pipeline, LLC.

—Kristen Nelson

See story in Jan. 8 issue of Petroleum News, available online at 11 a.m., Friday Jan. 6, at www.PetroleumNews.com

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