ExxonMobil Selling Cook Inlet Assets, Remains Committed to Alaska

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.

An award-winning journalist, Deon has reported on energy, business and politics for almost 20 years.

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