The rapid growth of Houston’s Hilcorp in Alaska is continuing via a new partnership with a regional Alaska Native company to explore and drill on its land.
Source: Houston Chronicle
Hilcorp and Doyon Ltd. are teaming up to explore on Doyon’s 1.6 million acres of mineral rights in the Yukon Flats where the company has long held interest in developing the area’s oil and gas potential.
This new deal comes just months after Hilcorp agreed to pay $5.6 billion to buy all of BP’s Alaska assets, making it the second-largest energy player in Alaska after Houston-based ConocoPhillips.
“Doyon has been actively exploring for oil and gas resources in our region for over a decade. We’ve barely scratched the surface. We are pleased to sign this agreement allowing Hilcorp to explore further, and we look forward to seeing results from their activities,” said Doyon Chief Executive Aaron Schutt.
The deal with with Hilcorp includes an initial aerial survey of the region followed by the opportunity for further exploration in the form of seismic and drilling programs. The initial focus of exploration is in the Birch Creek area.
