As part of its goal to become a dominant player in Alaska’s energy industry, Hilcorp Energy is reportedly buying the Cook Inlet assets owned by XTO Energy, an Exxon Mobil Corp. subsidiary.
Suann Guthrie, a media advisory for XTO Energy in Fort Worth, confirmed to Rigzone that XTO has agreed to sell its interest in the Cook Inlet, which include 29 producing wells from two platforms and an onshore facility to Hilcorp Alaska. Altogether, the assets produced about 2,000 barrels of oil per day in 2014. The deal isn’t expected to run into regulatory hurdles from the state of Alaska.
Guthrie said the divestment will impact some XTO employees, but all workers will receive job offers from Hilcorp or be reassigned within XTO’s other operations.
“ExxonMobil remains committed to its operations in Alaska. This sale does not impact ExxonMobil’s other Alaska operations or early planning activities for a possible Alaska LNG project,” Guthrie said.
Financial details of the transaction are confidential.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you