|
State approves Repsol to GMT assignment
Kristen Nelson Petroleum News
The Alaska Department of Natural Resources’ Division of Oil and Gas has approved assignment of 18.75 percent working interest in 11 oil and gas leases from Repsol E&P USA Inc. to GMT Exploration Company LLC.
This group of leases is south of Pikka and west of Meltwater.
Division Director Chantal Walsh said in a Feb. 13 assignment approval that the effective date of the assignments is Feb. 1.
“Any party holding an interest in the assigned leases may be required to enter into a financial assurances agreement in the future to ensure dismantlement, removal, and restoration obligations can be met,” Walsh said.
Monthly activity report In the division’s January monthly lease administration activity report there are 17 leases with assignment from Great Bear Petroleum Ventures to Accumulate Energy Alaska Inc. (69.13 percent working interest) and Burgundy Xploration LLC (20.07 percent working interest). These leases are at the southern edge of a large block of Great Bear leases interlaced with existing Accumulate leases. Borealis Alaska LLC holds the remaining 10.8 percent working interest; under comments in the division’s report the 17 leases are listed as assignments subject to the first amendment to the DR&R agreement.
A newly formed subsidiary of London-based Pantheon Resources recently acquired two wholly owned companies from Great Bear Petroleum Operating LLC - Great Bear Petroleum Ventures I and II, between 250,000 and 290,000 acres on Alaska’s North Slope, most immediately south of Prudhoe Bay and Kuparuk River.
The January lease activity report shows the acquisition by Pantheon Oil and Gas LP of 100 percent interest in 81 leases from Great Bear Petroleum Ventures I and II.
The report also shows 20 Doyon Ltd. leases terminated for failure to pay rent. Doyon has been exploring in the Nenana basin and in 2012 converted a state oil and gas exploration license in the Nenana basin into state oil and leases; the division’s current summary of acreage by lessee shows Doyon still holds 141,733 acres.
A sample lease from those terminated was 5,042 acres; if the 20 leases were all in that size range the acreage terminated would be more than 100,000 acres.
The report also reflects participating area changes - 12 expansions and one contraction - at ConocoPhillips Alaska’s Nanuq participating areas in the Colville River unit, and six assignments of overriding royalties of 0.5 percent from Proak LLC to Northern Lights Royalties III LP.
| 