THE INDEPENDENTS 2003: ASRC buys into Alpine pipeline

Arctic Slope Regional Corp., the Native regional corporation that is expanding its scope to become an independent oil and gas producer on the North Slope, is anteing up $15.9 million to buy minority interest in North Slope oil infrastructure. The acquisition has an effective date of Jan. 31, 2003.

ASRC Pipeline Co. has purchased 16.667 percent of the Alpine Transportation Co., the entity which owns the 34 mile, 14 inch pipeline connecting ConocoPhillips’ Alpine field (in the Colville unit) to the main North Slope pipelines to the east.

Teresa Imm has been named president of ASRC Pipeline Co.

ASRC is a royalty owner in the Alpine field, and its leases include an option to purchase a portion of the transportation system. ASRC Pipeline and Alpine Transportation submitted a joint application in September 2003 to the Regulatory Commission of Alaska for approval of the acquisition. Kuukpik, the Native village corporation of Nuiqsut, has an option to acquire a portion of ASRC's interest.

ConocoPhillips and Anadarko Petroleum, partners in the Alpine field, own Alpine Transportation through subsidiaries in the same proportion as their field ownership: 78 percent and 22 percent, respectively.

Once the ownership change is approved, ConocoPhillips will own 65.333 percent of Alpine Transportation, Anadarko 18 percent, and ASRC 16.667 percent.

ConocoPhillips will continue to operate the pipeline system.