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State approves lease transfers in March Deals include Great Bear, AVCG and GMT; additional Anadarko leases in the foothills expire; also deals in Cook Inlet and Interior Eric Lidji For Petroleum News
The Alaska Department of Natural Resources has approved the transfer of a 25 percent working interest and 20.83 percent royalty interest in 30 Great Bear Petroleum Ventures I leases on the North Slope to Red Technology Alliance LLC, effective to Feb. 1.
Red Technology Alliance is a joint venture between the private equity group Riverstone Holdings LLC and Halliburton Energy Services LLC that invests in upstream energy projects amenable to Halliburton technologies. The joint venture initially focused on the Rocky Mountains region and the U.S. Gulf of Mexico, according to a company website.
Halliburton is partnering with Great Bear on a source rock exploration program.
Also on the North Slope, the state approved the transfer of a small working and royalty interests from Ramshorn Investments Inc. and AVCG LLC to Mustang Road LLC. The deal is connected to a joint venture between the two partners and the Alaska Industrial Development and Export Authority to build a road and pad at the Mustang prospect.
The Mustang prospect is in the Southern Miluveach unit.
The state approved the transfer of 22.5 percent working interest and 18 percent royalty interest in 10 GMT Exploration Co. LLC leases in the Beaufort Sea to 70 & 148 LLC. It also approved the transfer of 22.5 percent working interest and royalty interests between 18.75 and 19.6875 percent in 30 Repsol E&P USA Inc. leases in the Beaufort Sea to 70 & 148. The three companies have been partnering on a multiyear exploration program.
Also in March, 15 Anadarko Petroleum Corp. leases in the foothills of the Brooks Range Mountain expired at the end of their primary term. While Anadarko once leased millions of acres across the foothills region, it has been refining its portfolio in recent years.
Cook Inlet leasing deals The state approved the transfer of 100 percent working interest and 82.5 percent royalty interest in four Escopeta Oil Co. leases in Cook Inlet to Galena Energy Corp.
The two companies share a principal in Danny Davis.
The leases are ADL 391618, ADL 391619, ADL 391620 and ADL 391622.
Also in Cook Inlet, the state denied the transfer of a small royalty interest in two leases from Buccaneer Alaska LLC to Er Alaska LLC. Additionally, six Buccaneer leases expired at the end of their primary term. The leases were part of the nine-lease West Eagle unit Buccaneer proposed for the area east of Nikolaevsk. The Division of Oil and Gas ultimately approved a three-lease unit, and allowed the other leases to expire.
Interior region leasing The state approved the transfer of 15 percent working interest and 13.125 percent royalty interest in 10 Arctic Slope Regional Corp. leases in the Nenana basin to Doyon Ltd., the Alaska Native corporation for the Interior region. The state also approved the transfer of 10 percent working interest and 8.75 percent royalty interest in the same four leases from Usibelli Energy LLC to Doyon Ltd. Along with other partners, the three companies drilled the Nunivak No. 1 exploration well in the region in summer 2009.
Doyon plans to drill an additional well in the region this summer.
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