hilcorp energy news

Additional terms for Japan only: Moody's Japan K.K. Chevron 10.

All rights reserved. Hilcorp is living proof that by empowering your employees and fostering an entrepreneurial mindset, even the most ambitious goals can be met or exceeded.

McComb said Kane Beef had paid 73 percent of its debt but the city was still required to provide water and wastewater service to the plant while the company was in bankruptcy. The midstream portion of the transaction is expected to close in the third quarter, pending regulatory approval. MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements. June 24, 2020 St Louis Post Dispatch News Hilcorp is the lone bidder for Alaska oil and gas lease sale.

ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. The $5.6 billion deal was announced last August. Hilcorp Energy I, L.P. is a private limited partnership headquartered in Houston, Texas. tipobj.style.backgroundColor = '' Over the nearly year-long review of the sale, Hilcorp has faced criticism for its safety and environmental record and received praise for its innovation and ability to revive aging infrastructure, including at Milne Point.

The principal methodology used in these ratings was Independent Exploration and Production Industry published in May 2017 and available at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1056808. HEI paid $500 million to BP in two instalments in 2019, both installments borrowed under its revolving credit facility. To the extent permitted by law, MOODY'S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability for any direct or compensatory losses or damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud, willful misconduct or any other type of liability that, for the avoidance of doubt, by law cannot be excluded) on the part of, or any contingency within or beyond the control of, MOODY'S or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information. For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Hilcorp Energy I, L.P. is a private limited partnership headquartered in Houston, Texas. 2 and 3 respectively. tipobj.style.left = curX + offsetxpoint + "px"

The Alaska Department of Natural Resources and the Alaska Department of Environmental Conservation approved transfer of leases and permits needed for the upstream transfer on June 29, in advance of the June 30 date the companies had targeted for the asset transfer. $(this).append(giving);

Any distributions from UnSub to HEI, which are expected to be modest if any, are required to repay HEI debt. /***********************************************

document.getElementById("dhtmltooltip") : "" Tags Wells Fargo & Co/ Oil & gas Hilcorp Energy Co/ From Business Journals.

MSFJ is not a Nationally Recognized Statistical Rating Organization ("NRSRO").

This document is intended to be provided only to "wholesale clients" within the meaning of section 761G of the Corporations Act 2001. The ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.

document.onmousemove = positiontip. MOODY'S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY'S ANALYTICS, INC.

A key structural component of the purchase and sale transaction is the establishment of UnSub to hold all but the Milne Point Alaskan assets acquired by HEI, and the provision of seller-financing by BP to fund this element of the acquisition on a non-recourse basis to HEI. if (typeof thewidth != "undefined") tipobj.style.width = thewidth + "px" “There are a lot of opportunities, but they’re going to have to compare them within that field and run the economics on them as well,” he said. PBU Transition Information | Vendors | MOODY'S INVESTORS SERVICE DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT.

tipobj.style.left = ie ? Hilcorp is Houston based and Doyon Ltd., is a regional Alaska native company. //position the horizontal position of the menu where the mouse is positioned

The company has nearly tripled its Alaska workforce as a result of the recent transaction, growing from some 550 employees to more than 1,450, with more employees expected to be added in the coming months. “Additional throughput is beneficial while new larger fields are being developed on the North Slope, such as Pikka and Willow.”.

Meanwhile, the second key piece of the sale remains under review.

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Hilcorp Alaska announced in a written statement Wednesday morning that it has taken over BP’s 26% interest in Prudhoe Bay, plus its stakes in the Milne Point and Point Thompson fields. if (ns6 || ie) {

* Please keep this notice intact They’re not in it to cannibalize the company and walk away," McComb said.

Mike Dunleavy said in a statement Monday about the commissioners’ approval.

Newest Permian Basin to Corpus Christi crude oil project is approved, Hilcorp Energy affiliate and Vitol pursuing Corpus Christi oil terminal project, Houston billionaire’s foundation gives $25M to UT engineering school department, Halliburton is hiring more in Four Corners region, Oil companies are hiring more in New Mexico's Four Corners region, Hilcorp Energy exec: 'We want everyone around here thinking like owners', Texas energy giant's sale of San Juan assets closes. 's (BP, A1 negative) assets in Alaska. More information is expected from the companies on Wednesday. HEI's exposure to oil prices leaves it vulnerable to shifts in market demand and sentiment in these unprecedented operating conditions. The Regulatory Commission of Alaska is still assessing BP’s sale of its pipeline assets, including its interest in the 800-mile trans-Alaska pipeline. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources.

var giving = $('#showGiving').detach(); Hilcorp said it has nearly tripled its workforce in Alaska as a result of the $5.6 billion sale, growing to more than 1,400 employees.

} else The acquired production, which is all oil, is expected to average over 70,000 Boe per day, while HEI's total pro forma production across its portfolio will increase to about 230,000 Boe per day. HEI's $1.7 billion secured borrowing base revolving credit facility was utilized in the amount of $1.055 billion at June 30, and is scheduled to mature in November 2022.
Hilcorp Energy exec behind effort to save Corpus Christi's Kane Beef plant. Diamondback Energy 9. New York, August 25, 2020 -- Moody's Investors Service, ("Moody's") downgraded Hilcorp Energy I, L.P.'s (HEI) Corporate Family Rating (CFR) to Ba2 from Ba1, its senior unsecured notes to Ba3 from Ba2 and its Probability of Default Rating to Ba2-PD from Ba1-PD.

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}); San Juan Basin Royalty Trust Announces Hilcorp’s 2020 Capital Plan HOUSTON (Bloomberg) -- Hilcorp Energy Co. announced that its billionaire owner Jeff Hildebrand has stepped down as chief executive officer of the largest closely held U.S. oil explorer.

MOODY'S CREDIT RATINGS,ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications.
BP and Hilcorp said little publicly Tuesday about closing the first chunk of that deal.

Click here to subscribe to Petroleum News. The company has nearly tripled its Alaska workforce as a result of the recent transaction, growing from some 550 employees to more than 1,450, with more employees expected to be added in the coming months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS.

It’s official: The sale of a big chunk of BP’s business in Alaska has quietly closed.

While Hilcorp has worked to increase oil production in Cook Inlet, the main focus there has been natural gas, which feeds local needs in Southcentral Alaska. ", More:Kane Beef slaughtering operations put on hold in Corpus Christi.

For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. The 50% of the Milne Point producing asset not presently owned by HEI was contributed to HEI at closing, while the remainder of the upstream asset package is held in a separately capitalized 100% owned unrestricted HEI subsidiary (the "UnSub"). document.body.appendChild(tipobj)

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