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Anadarko, Repsol land deals approved North Slope deal precedes development plans, DNR also OKs various working and royalty interest deals in the Cook Inlet basin Eric Lidji For Petroleum News
Anadarko Petroleum Corp. has transferred a 50 percent working interest and 40.5 percent royalty interest in 23 leases to the Kansas-based Alaska Venture Capital Group LLC, according to recent lease reports from the Alaska Department of Natural Resources.
The acreage is among the leases in the Greater Bullen unit that AVCG, through its operating arm Brooks Range Petroleum Corp., is proposing on the eastern North Slope.
Pending partner approval, Brooks Range is proposing the Telemark development project to bring a potential Brookian-age reservoir in the Flaxman sand online by 2015, as well as a six-well exploration program for the proposed unit over the next eight years.
The leases are south of the Point Thomson unit and expire in January and June 2012.
Repsol deal approved DNR approved a partnership between two central North Slope leaseholders and the Spanish major Repsol YPF. In March, the Armstrong Oil and Gas subsidiary 70 & 148 LLC and fellow Denver independent GMT Exploration Co. LLC transferred a 70 percent working interest and a 56 percent royalty interest in 157 onshore leases to Repsol.
The 494,211-acre leasehold includes acreage south of the Kuparuk River unit, in the White Hills area and offshore near the Oooguruk unit.
Repsol previously announced a $768 million multiyear exploration program to look for relatively low risk conventional oil in the region beginning as soon as this coming winter.
Partners Armstrong and GMT also traded interests in several other Alaska properties.
GMT transferred a 3.33 percent royalty interest in eight leases in the Beaufort Sea to Armstrong CEO Bill Armstrong. In Cook Inlet, Armstrong Cook Inlet LLC transferred various working and royalty interests to its partners at the North Fork unit in the southern Kenai: Jonah Gas Co. LLC, Nerd Gas Co. LLC, Dale Resources Alaska LLC and GMT.
On the North Slope, Sun-West Oil and Gas Inc. allowed a single offshore lease off the coat of the Arctic National Wildlife Refuge (1002 Area) to expire.
Cook Inlet deals approved In Cook Inlet, DNR’s Division of Oil and Gas approved the transfer of the Hanna prospect from independent investor Paul Craig to Houston-based Escopeta Oil and Gas Corp. Craig is transferring 100 percent working interest and 82.5 percent royalty interest in the four-lease prospect.
Escopeta is permitting a 5,500-foot well to test gas-bearing sands at the 6,800-acre prospect located on the west side of Cook Inlet, near the mouth of the Susitna River.
Craig also transferred 5 percent royalty interest in those leases to his company PLC LLC.
Also in Cook Inlet, Renaissance Alaska LLC transferred a 0.375 percent royalty interest in three leases at the offshore Northwest Cook Inlet unit to Seitel Offshore Corp.
Coil Inc. transferred a 0.0625 percent royalty interest in two leases at the West McArthur River unit on the west side of Cook Inlet to individual investor Elizabeth B. Clinton. l
NOTE: A copyrighted oil and gas lease map from Mapmakers Alaska (www.mapmakersalaska.com/) was a research tool used in preparing this story.
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