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Three companies drop out of top 15 leaseholders Texaco drops six tracts; ARCO acquisition of Union Texas has largest impact; BP-Amoco merger affects few acres; Exxon-Mobil merger increases Exxon’s lease acreage by 35 percent Kristen Nelson PNA News Editor
Over the past year, three companies have dropped out of the top 15 Alaska oil and gas lease acreage holders, one because of lease expiration and two because of acquisition by other companies.
Six leases belonging more than 60 percent to Texaco Exploration and Production Inc. (the remaining 30 plus percent to Murphy Exploration & Production Co.) expired at the end of November, reducing Texaco’s dwindling acreage position in the state by 80 percent. The company had been the state’s 15th largest oil and gas lease holder a year ago, with 17,777 acres; its position has dropped more than 80 percent to some 3,500 acres.
The six leases which expired were the farthest east of any current leases, lying offshore the Arctic National Wildlife Refuge almost at the Canadian border.
The two companies which dropped off the list because of acquisition were Union Texas Petroleum Corp., acquired by ARCO last year, which was eighth on the list last year with 111,162 acres and Mobil Alaska Exploration and Production, acquired by Exxon, which was twelfth on last year’s list with 45,752 acres. ARCO, BP combined hold 57 percent of leased state acreage ARCO Alaska Inc., including acreage formerly held by Union Texas Petroleum, tops the list of state oil and gas leaseholders with 1,135,389 acres, 31.6 percent of state leased oil and gas acreage, an increase of 25 percent from the 908,400 acres the company held a year ago. A year ago Union Texas held 111,162 acres and was eighth among leaseholders by acreage.
BP Exploration (Alaska) Inc. is second this year with 912,088 acres, 25.3 percent of total state leased acreage. BP ranked first a year ago with 970,102 acres and has dropped 6 percent of its acreage from last year. Amoco, since acquired by BP, held 5,324 acres last year. Next 13 companies hold 39 percent of acreage Chevron USA Inc. ranks third with 260,165 acres, 7.2 percent of the total, and up 78 percent from last year when the company held 146,389 acres and was fourth in rank.
Unocal is fourth this year, down from third a year ago, at 234,967 acres. The company has 6.5 percent of leased acreage and has increased its holdings 12.9 percent from 208,212 acres last year.
Anadarko Petroleum Co. jumped from 10th to fifth, with 204,497 acres, 5.7 percent of the total. The company’s acreage position has grown 187 percent from 71,260 acres last year.
Forcenergy Inc. is sixth, down from fifth last year, with 179,113 acres, 5 percent of the total and an increase of 34 percent from the 133,325 acres the company held last year.
Exxon is seventh, down from sixth last year, with 178,846 acres, 5 percent of the total, an increase of 35.4 percent from the 132,079 acres the company held last year before it announced acquisition of Mobil, which accounts for 46,919 acres in Exxon’s current total.
Phillips Petroleum Co. is eighth, down from seventh last year, with 105,496 acres, 3 percent of total acreage, a drop for Phillips of 11.4 percent from the 119,130 acres the company held a year ago.
Petrofina Delaware, now part of Total Fina, is ninth with 66,181 acres, up from 11th last year. The company holds 1.8 percent of total leased acreage and has increased its holdings 19.7 percent from 55,278 acres a year ago. Total held no state oil and gas lease acreage.
Marathon Oil Co. is 10th, down from ninth last year, with 63,141 acres, 1.75 percent of the total. The company’s holdings are down 15.9 percent from 75,038 acres last year.
Forsgren, Allen, Burglin increase holdings Frontier Petroleum Corp., 11th this year, up from 14th last year with 28,488 acres, holds 0.8 percent of leased acreage. The company’s holdings are down 16.5 percent from 34,136 acres last year.
Keith C. Forsgren ranks 12th with 26,247 acres, 0.7 percent of the total, up from 250 acres a year ago, and up from 47th in last year’s ranking.
Murphy Exploration and Production remains at 13th with 23,199 acres, 0.6 percent of the total and down 36 percent from a position of 36,267 acres a year ago.
Monte J. Allen is 14th, up from 18th a year ago, with 18,935 acres, 0.5 percent of the total and an increase of 83.2 percent from 10,334 acres a year ago.
Clifford Burglin is 15th, up from 17th last year, with 13,639 acres, 0.4 percent of the total, and an increase of 23.9 percent from 11,007 acres a year ago.
Total state oil and gas acreage leased is up 12.4 percent, to 3,598,791 acres from 3,201,767 acres a year ago. The state’s first areawide lease sale, covering the North Slope, was held in June, with 518,689 acres leased.
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