Hilcorp Just Days From Acquiring Marathon

It’s been a long process, but Hilcorp Alaska is set to take over Marathon Oil’s Cook Inlet assets this week. Hilcorp’s Lori Nelson…

 

Nelson: “We’re hoping to close the business transaction for the Marathon acquisition which is this Thursday on the 31st. It’s been a long time coming, and we’ve got a lot of folks anxious to get to work on that set of assets, so hopefully the transaction will go smoothly and we’ll get to work shortly thereafter.”

 

We asked Nelson how this would impact Hilcorp’s future operations…

 

Nelson: “First and foremost, we’ll be growing our workforce by about 50 folks. As far as the actual work plan, we’re just starting to get a first glance on what assets we have to deal with and what the plans might be for those, so rather than bringing some more folks on board, I don’t really have details on what the work plans will be with that particular set of assets, but we do have plans for another significant round of investments. With the assets that we have in place already, we’re on par to spend over $200 million again in 2013 and depending upon what comes forward with the Marathon set, you know, we’ll increase that as needed.”

 

Hilcorp does face restrictions on pricing and where they can sell gas. For more information, read: Hilcorp Consent Decree Made Public.

Categories: News

About Author