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Conoco sells Cook Inlet interest Hilcorp acquires minority interests in leases at North Trading Bay unit and Nicolai Creek unit in addition to North Cook Inlet ERIC LIDJI For Petroleum News
In a series of transactions, Hilcorp Alaska LLC has acquired a stake in a scattering of offshore leases across the Cook Inlet basin, as well as one lease on the North Slope.
The local subsidiary of the Texas-based independent has acquired either a whole or partial working interest ownership in 11 leases from ConocoPhillips Co. subsidiaries, according to the most recent lease report from the state Division of Oil and Gas.
Hilcorp acquired 100 percent working interest in the five leases of the ConocoPhillips-operated North Cook Inlet unit - ADL 17589, ADL 17590, ADL 18740, ADL 18741 and ADL 37831. The transfer included the shallower segments of the leases currently producing natural gas as well as the deeper oil-prone segments, known as Tyonek Deep.
ConocoPhillips also transferred its minority interests in four leases within and around the Hilcorp-operated North Trading Bay unit, including its 25 percent interest in ADL 17597, its 50 percent interest in ADL 18776 and its 50 percent interest in ADL 35431.
In addition to transferring whole leases or minority interests, ConocoPhillips transferred its interest in segments of leases operated by other companies. Hilcorp acquired a 40 percent interest in one segment of ADL 392210, at the Glacier Oil & Gas Corp. subsidiary Cook Inlet Energy LLC-operated West McArthur River unit. The segment includes sections of the lease area deeper than 9,625 feet. Hilcorp also acquired a 25 percent interest in six segments of ADL 17585, at the Aurora Gas LLC-operated Nicolai Creek unit. Hilcorp already owned an interest in the producing west side gas field.
ConocoPhillips also transferred its 33.33333 percent working interest in ADL 312834 at the Duck Island unit to Hilcorp. Hilcorp is the operator of the offshore North Slope unit.
Also in November, the Division of Oil and Gas finalized the transfer of 15 leases at the former Tofkat unit from a multi-party joint venture operated by Brooks Range Petroleum Corp. to ConocoPhillips. The company previously acquired the seven other Tofkat leases.
Other deals In other leasing news, Peregrine Energy LLC is seeking to transfer royalty interests of less than 1 percent in ADL 391094 at the AIX Energy operated Kenai Loop field, to 13 independent companies or investors - Whispering Pines Mobile Home Park Ltd., Nevada Way Professional Business Plaza LLC, R and H Paul Inc., Lazy Daze KLA LLC, Great Northern Energy Inc., Tim and Sandra Apel, Coconut Point OE LLC, Colonial Villa Estates LLC, TG Solutions Inc., Deborah Leveranz and Wiley Family Holdings LLC.
In 15 transactions, Joseph Davis Estate is seeking to transfer royalty interests of less than 1 percent in five leases at the Cook Inlet Energy-operated Redoubt unit - ADL 378118, ADL 381201, ADL 391203, ADL 381003 and ADL 374002 - to Michael Boersig, Joseph E. Davis III and Scott A. Wade, who are the trustees of three irrevocable trusts.
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