THE EXPLORERS 2004: St. Mary looking at Alaska properties

Kay Cashman

Petroleum News

Denver-based St. Mary Land & Exploration Co., whose history dates to the turn of the last century, has been looking at the possibility of investing in Alaska oil and gas properties. Petroleum News sources indicate the mid-sized independent has looked at both the possibility of operating its own leases or investing in properties owned by other operators.

St. Mary secured the advisory services of North Slope exploration guru Michael Richter, formerly ARCO Alaska and Phillips Alaska’s vice president of exploration and land. Richter and his team were credited with more than a billion barrels worth of discoveries on the North Slope, including the first 1990s NPR-A discoveries.

The mid-sized independent first confirmed its interest in the state in June 2004, with the arrival of Richter as its representative.

On Oct. 19, 2004, Bob Hanley, vice president of investor relations for St, Mary said the company had “not seen anything real attractive yet” and “probably won’t be bidding in the near term” in Alaska oil and gas lease sales, but is still interested in potential investments in the state.

The company, Hanley said, has its focus elsewhere, referring to St. Mary’s Oct. 20 announcement that it had just signed three separate agreements for corporate and property acquisitions in the Lower 48 states.