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Integrity • Urgency • Ownership • Alignment • Innovation. We are often asked…. Why buy into Cook Inlet?. COOK INLET: The positives. Legacy oil and gas basin with giant fields Access to land Rule of law Stable fiscal policy.

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Presentation Transcript
slide2

We are often asked…

Why buy into

Cook Inlet?

slide3

COOK INLET: The positives

Legacy oil and gas basin with giant fields

Access to land

Rule of law

Stable fiscal policy

slide4

The History of Cook Inlet

GAS

First gas encountered: 1950’s

First and largest commercial discovery: 1959 Kenai Gas Field

First gas production: 1961

Gas production/sales peak: 2001

212 BCF (580 mmscfd)

Current gas production/sales: 2013 90 BCF (246.5 mmscfd)

OIL

First commercial discovery:

1957 at Swanson River Field

First oil production: 1958

Peak oil production:

227,000 BOPD in 1970

December 2011 oil rate:

11,000 BOPD

slide6

ONSHORE: New drilling rigs

Ninilchik, SD8

Swanson River Field

slide7

OFFSHORE: Enhancing Operations

BUILT FOR PURPOSE

PULLING UNITS

MONCLA RIG 301

Granite Point Platform

Bruce Platform

HAK #1

Dolly Varden Platform

King Salmon Platform

Granite Point Platform

slide10

Cook Inlet Oil Production

Thousands of Barrels per Day

slide11

Support Industry is Critical

  • INCREASED DEMAND
  • FOR SUPPORT SERVICES
  • 2013
  • More than 835,000
  • Contract Man Hours with
  • Alaska-based service companies
  • = More than 400 FT Jobs
slide13

Gas Pipeline Consolidation

  • 4 COMMON CARRIER GAS PIPELINES
  • Kenai Nikiski Pipeline
  • Cook Inlet Gas Gathering System
  • Kenai Kachemak Pipeline
  • Beluga Pipeline
  • WHY?
  • Builds efficiencies for Hilcorp & shippers
  • WHAT CHANGES?
  • Tariff will transition to “Postage Stamp Rate”
  • Costs will be spread throughout the system
  • Nomination process is greatly simplified
  • HOW?
  • Settlement approach with the RCA
slide14

Invest for the future

2013 Investment

$338.7MM

slide15

Community minded employees

Nearly 500 grants to Alaskan 501(c)3 Organizations

slide16

2012-2013 HAK Financial Impact

$8MM

Gov’t Payments

$80MM

Royalty to Individuals

Payroll

$96MM

Goods & Services

$814MM

Total Impact

$998,000,000

slide17

Cook Inlet Outlook: Half-full or Half-Empty?

  • HALF FULL
    • In the Cook Inlet region, the USGS estimates mean undiscovered volumes of nearly 600 million barrels of oil, about 19 trillion cubic feet of gas, and about 46 million barrels of natural gas liquids
    • New entrants, increased activity
    • Contractor base getting stronger
    • Encouraging results
  • HALF EMPTY
    • Constrained natural gas market
    • Risk of regulation creep

$80MM

$96MM

$814MM

slide18

Why NOT

Cook Inlet?