Hilcorp buys ExxonMobil’s Inlet assets

HOUSTON, July 8, 2015 – XTO Energy, a subsidiary of ExxonMobil, announced in a company statement that it has sold its assets at Cook Inlet to Hilcorp Energy.

XTO sold its Middle Ground Shoal assets in Cook Inlet, which include 29 producing wells and an onshore facility. These wells are located in two offshore platforms. In 2014, the platforms produced a total of about 2,000 barrels of oil per day.

Platforms A and C included in the deal are the only two producing of the four platforms in the Middle Ground Shoal field as the Baker and Dillon platforms have not been operational for several years. Hilcorp purchased the Baker and Dillon platforms from Chevron in 2012.

The latest move falls in line with the company’s ambition toward further expansion in Alaska after entering four years ago. After arriving in the state, the company became the major oil and gas producer in the Cook Inlet and the North Slope.

The financial details of the transaction have not yet been released.

Read our latest insights on: