Hilcorp buys North Cook Inlet field

ConocoPhillips has sold the North Cook Inlet gas field to Hilcorp Alaska, ConocoPhillips spokeswoman Amy Burnett has told Petroleum News. The offshore field operates from the Tyonek platform, with gas delivered to shore on the Kenai Peninsula by subsea pipeline.

“ConocoPhillips reached an agreement with Hilcorp for the sale of the North Cook Inlet unit, and the asset sale was finalized in late October,” Burnett told Petroleum News in a Nov. 16 email.

Hilcorp has confirmed the sale.

“Hilcorp has made great strides with our existing assets in Cook Inlet. The Tyonek platform and the North Cook Inlet unit are great additions to our existing assets within the Cook Inlet,” said Hilcorp Senior Vice President David Wilkins. “As a result of significant investments, the company has been able to increase production and help provide a reliable source of energy for Southcentral Alaskans.”

In July 2015 ConocoPhillips announced its intent to sell its Cook Inlet properties, other than the liquefied natural gas facility at Nikiski on the Kenai Peninsula. The company subsequently sold its interests in the Beluga River gas field on the west side of the Cook Inlet to electric utilities Chugach Electric Association and Municipal Light & Power. Now, with the sale of the North Cook Inlet unit, ConocoPhillips no longer owns any interest in any fields in the Cook Inlet basin.

- ALAN BAILEY