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