Hilcorp

Houston’s Hilcorp Energy Co. has completed a takeover of BP plc’s upstream portfolio in Alaska and is nearing a handoff of the midstream unit, allowing the private explorer to become one of the state’s biggest operators. The $5.6 billion deal struck last year with BP hands affiliate Hilcorp Alaska immediate control of BP Exploration (Alaska)…

BP plc still expects to offload its legacy Alaska portfolio to Houston-based Hilcorp Energy Co., but terms of the $5.6 billion agreement have been renegotiated in response to market volatility.

Houston-based Hilcorp Energy Co., one of the largest private operators in the country and the largest in Alaska, pulled a stunner Tuesday, agreeing to pay BP plc $5.6 billion for all of its legacy operations and interests.

New Mexico regulators said Tuesday they plan to reevaluate recently granted approvals that would allow Houston-based Hilcorp Energy Co. to increase San Juan Basin oil and gas development.

A Houston-based exploration and production company (E&P) with new approvals to step up some wells in the San Juan Basin has caused a controversy as New Mexico gets ready for an incoming Democratic governor to replace the incumbent Republican.

The Interior Department’s Bureau of Ocean Energy Management* has given conditional approval to a subsidiary of Hilcorp Energy Co. to develop an offshore oil and gas production facility in Alaska’s Beaufort Sea.

At the first auction of federal offshore leases in Alaska’s Cook Inlet in nearly a decade, Hilcorp Alaska LLC submitted bids of more than $3 million on Wednesday, according to the Interior Department’s Bureau of Ocean Energy Management (BOEM).

A leaking natural gas line in the Middle Ground Shoal area of Alaska’s Cook Inlet was sealed late last week, pipeline operator Hilcorp Alaska LLC said.

Hilcorp Alaska said Monday that dive crews were working to repair a leaking eight-inch diameter natural gas pipeline in the Middle Ground Shoal area of the Cook Inlet. The leak point, approximately two inches in length, was noted to be on the very bottom of the pipeline resting on a boulder embedded in the seafloor, Hilcorp said. Following completion of the initial repair, further inspection and work will be done to permanently repair the affected segment of pipe. The line will not be returned to service until permanent repairs have been completed, the line has been pressure tested, and regulators have approved a re-start, Hilcorp said.