Hilcorp

Oil and gas producer Hilcorp is continuing its Alaska expansion with three new exploration leases in the Cook Inlet basin.

Hilcorp, which operates most of the platforms in the inlet as well as a number of onshore gas wells and the cross-inlet pipeline, won three leases in the state’s areawide Cook Inlet and Alaska Peninsula oil and gas lease auction this week. The three leases cost the company about $178,000, with an average price of $21.43 per acre.

The big news from Hilcorp these days is its $5.6 billion bid to buy BP out of Alaska, but not all its focus is on the North Slope. Cook Inlet still plays a role in Hilcorp’s footprint in Alaska.

“We have 537 fulltime Hilcorp employees. Ninety percent of them live here in Alaska and over half of them live on the Kenai Peninsula. We have found the Kenai Peninsula workforce to be a wonderfully experienced, creative, energetic workforce to do what we do every day and we will in the future continue to tap into the Kenai Peninsula workforce,” said Dave Wilkins, senior vice president of Hilcorp Alaska, speaking at the 2020 Economic Outlook Forum in Seward earlier this month.

 


In oil and gas news, there’s a new owner of Furie Operating Alaska, which went Chapter 11 in August. The successful bidder was Hex LLC, wholly-owned by John Hendrix, who has worked for Apache Corporation and NANA Commercial Group, and was Gov. Bill Walker’s chief oil and gas advisor. He formed Hex LLC in November.
    The winning bid in bankruptcy court was 15-million-and-10-dollars, for which Hendrix receives Furie’s Cook Inlet Kitchen Lights offshore unit and the Julius R offshore platform, as well as onshore assets in Nikiski.

Environmental groups challenge Hilcorp plans

Sep 5, 2019

 

Hilcorp will face a legal battle before it can begin its proposed seismic testing in Cook Inlet near Homer.

Hilcorp files modest Cook Inlet plans for 2019-2020

May 14, 2019

 

Hilcorp has filed its plans for the coming year with the state and little new work will be done on its Cook Inlet operations. The independent, Texas-based company produced 85% of the gas that came from Cook Inlet last year, with daily production approaching 200 million cubic feet.

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