Hilcorp applies to transfer pipe ownership

Hilcorp Alaska and Swanson River Oil Pipeline have applied to the Regulatory Commission of Alaska for transfer of ownership of the Swanson River Oil Pipeline from Hilcorp Alaska to Swanson River.

Swanson River is wholly owned by Harvest Alaska, which is wholly owned by Hilcorp Alaska, which is currently the sole owner of Swanson River Oil Pipeline. Swanson River is a Delaware limited liability company, licensed and registered to do business in Alaska, formed for the purpose of owning the Swanson River Oil Pipeline.

The companies are requesting summary approval of the transfer by RCA as the transfer will not result in a significant change of ownership and the transfer will have no effect on operation of the pipeline or its tariff.

The Swanson River Oil Pipeline is an 8-inch diameter line some 18.8 miles in length and provides transportation of crude oil from Hilcorp’s Swanson River field to the piping and terminal facilities of Kenai Pipe Line Co.’s Nikiski Marine Terminal. The pipeline’s sole receipt point is the Swanson River field and its sole delivery point is the Nikiski Marine Terminal; Hilcorp Alaska is the only shipper on the line.

Harvest Alaska was formed in 2014 as a wholly owned subsidiary of Hilcorp Alaska and is responsible for operating and managing Northstar Pipeline Co., Milne Point Pipeline and Endicott Pipeline Co. Harvest Alaska’s wholly owned subsidiary Kenai Beluga Pipeline, owns the Kenai Beluga Pipeline, four interconnected Kenai-Area natural gas pipelines.

Hilcorp and Swanson told RCA that the purpose of the transfer “is to further the process of placing all of the regulated Alaska pipeline and other midstream assets and interests of Hilcorp Alaska within the ownership and control of separate pipeline company affiliates, Harvest Alaska, and Swanson River, which have been created solely for that purpose.”

- Petroleum News