State approves few lease deals in May

The state has approved the transfer of a sizeable working and royalty interest in 15 leases at or near the Point Thomson unit from ExxonMobil Oil Corp. to Exxon Mobil Corp. The working interests range from 9.5 to 46.723566 percent and the royalty interests range from 8.3125 to 40.883121 percent. The transfers include whole leases and lease segments, according to a recent Alaska Department of Natural Resources lease report.

The state also approved the transfer of two leases from Polar Petroleum (AK) Corp. to Samuel H. Cade and Daniel K. Donkel. For both ADL 391544 and ADL 391545, Polar transferred a 75 percent working interest and 59.5 percent royalty interest to Cade and a 25 percent working interest and 19.83333 percent royalty interest to Donkel.

The state also approved the transfer of a 22 percent working interest and 18.33333 percent royalty interest in ADL 392606 from ConocoPhillips Alaska Inc. to Anadarko E&P Onshore LLC. The lease is south of Nuiqsut, near the Kuparuk River unit.

In the Interior, the state is considering a request from Cedar Creek Oil & Gas Co. to transfer 0.25 percent royalty interest in five Nenana Basin leases to Windmill Canyon LLC. The companies previously partnered on a Nenana basin exploration venture.

In Cook Inlet, the state is considering a request from the Donald E. Brookman Estate to transfer a small royalty interest in two leases to Elizabeth Brookman. The leases are ADL 374002 and ADL 378114. The state is also considering a request from Virginia Beattie to transfer small royalty interests in three Cook Inlet leases to Virginia Beattie and James Beattie. The leases are ADL 381203, ADL 374002 and ADL 378114.

Also in May, the state finalized a third expansion of the Oooguruk unit on behalf of Pioneer Natural Resources Alaska Inc. Pioneer recently closed on a deal to sell its Alaska subsidiary to Caelus Energy Inc., which now owns and operates the Oooguruk unit. And the state finalized the transfer of remaining 25 percent working interest in seven Cook Inlet leases from Buccaneer Cosmopolitan LLC to BlueCrest Energy Inc. The two companies had partnered on an exploration program at Cosmopolitan, but BlueCrest is now pursuing development alone and Buccaneer is engaged in bankruptcy proceedings.

- Eric Lidji