Alaska regulator OKs ASRC’s interest in Alpine pipeline

Petroleum News

The Regulatory Commission of Alaska said Dec. 9 that is has approved a joint application filed in August by Alpine Transportation Co. and ASRC Pipeline Co. for ASRC Pipeline to acquire a 16.67 percent minority interest in Alpine Transportation Co.

Arctic Slope Regional Corp., a royalty owner in the Alpine oil field, exercised its option to acquire a minority interest in Alpine Transportation Co. through a subsidiary company, ASRC Pipeline.

The commission ruled the application complete after Arctic Slope Regional Corp., the parent company of ASRC Pipeline, filed a guaranty that the parent company would be responsible for the pipeline company’s common carrier pipeline obligations.

ConocoPhillips and Anadarko Petroleum discovered and developed the Alpine field and are partners (ConocoPhillips 78 percent, Anadarko 22 percent) in the field and in the pipeline. After the ASRC acquisition, Alpine Pipeline Co. (a wholly owned subsidiary of ConocoPhillips Alaska) will own 65.333 percent, Anadarko Alpine Pipeline will continue to own 22 percent and ASRC Pipeline will own 16.667 percent.