The deal, which must be cleared by state regulators, would expand the Texas-based independent’s Alaska operations to the offshore Oooguruk and Nikaitchuq oil fields.
Hilcorp's Alaska headquarters in Midtown Anchorage are seen on Feb. 7. The company, now a dominant operator in Alaska, announced it has struck a deal to expand its North Slope holdings by buying Eni's Alaska assets.
“The addition of the Oooguruk and Nikaitchuq assets seamlessly integrates with Hilcorp Alaska’s existing portfolio, presenting us with an exceptional opportunity to invest and optimize operations in a way that will drive increased production,” Lalicker said. Hilcorp’s North Slope expansion continued in 2020 when it bought out all remaining BP Alaska assets as the British oil giant departed the state. That $5.6 billion deal made Hilcorp the operator of the Prudhoe Bay field and its satellites. The
The tax situation exists because the company is structured as an S-corporation, a term in the tax code for companies whose profits flow directly to shareholders, rather than as a stand-alone C-corporation, as is typical for publicly traded companies like ConocoPhillips and BP.
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