Area-wide lease sales for the North Slope and Cook Inlet brought an estimated $8 million to the State of Alaska, an increase over last year but not the major bump that new Inlet royalty terms were supposed to stimulate.
There’s now a plan to transport stranded North Slope gas to another market, with the bonus of providing affordable heat to the Interior.
The only bidder in the December 30 Cook Inlet lease sales was Hilcorp, buying leases on six state tracts and one in federal waters.
The state’s North Slope areawide oil and gas lease sale saw a significant uptick in activity and revenue compared to last year, with more than $5 million in winning bids on seventy tracts.
The industry group is honoring Alyeska Pipeline Service Company, a rising star in its ranks, a retiring executive of Hilcorp, and NANA Management Services.
Speakers at the Alaska Sustainable Energy Conference envision great potential for renewable sources—but not for the next couple of decades.
The sale encompasses 100 percent of BP’s Alaska interests, which includes its midstream and upstream assets, BP Pipelines’ interest in the Trans Alaska Pipeline System, and a cluster of Arctic Slope Regional Corporation units located within the Arctic National Wildlife Refuge.
BP announced that it has agreed to sell its entire business in Alaska to Hilcorp Alaska, based in Anchorage. Under the terms of the agreement, Hilcorp will purchase all of BP’s interests in the state for a total consideration of $5.6 billion.