RCA approves transfer of 1.4% to Hilcorp

The Regulatory Commission of Alaska has approved the transfer of a small ownership interest in Northstar Pipeline Co. from Murphy Exploration (Alaska) Inc. to Harvest Alaska LLC.

Hilcorp has acquired BP Exploration (Alaska)’s interest in Northstar; Harvest Alaska is Hilcorp’s pipeline subsidiary.

Harvest and Murphy filed joint applications for transfer of Murphy’s 1.4228 percent ownership interest in Northstar Pipeline Co., the sole owner and holder of the certificates of public convenience and necessity for the Northstar oil pipeline and the Northstar gas pipeline.

The Northstar oil pipeline moves crude oil from the Northstar unit at the Seal Island production facility to Pump Station No. 1 of the trans-Alaska oil pipeline. The Northstar gas pipeline transports fuel gas and injection gas from the Prudhoe Bay unit central gas production facility to the Northstar production facility.

RCA said Harvest Alaska holds a 98.5772 percent ownership interest in Northstar Pipeline Co. and is the operator of both lines. With commission approval of the joint application, Harvest Alaska will own 100 percent.

The commission said this is not a substantial change in ownership and the transfer is in the public interest because Harvest already holds the controlling interest in Northstar Pipeline and operates the pipeline.

- Petroleum News