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Hilcorp Energy’s pending $5.6 billion acquisition of BP’s Alaska assets has implications well beyond what happens to the oil remaining in the Prudhoe Bay field.
That’s because the London-based oil major’s reach in the state isn’t limited to operations at the legendary oil field, which BP holds a 26 percent stake in. ConocoPhillips and ExxonMobil each hold a 36 percent share of Prudhoe Bay and Chevron has the remaining 1.1 percent interest.
BP also holds a one-third share of the $4 billion Point Thomson gas field on the North Slope, which is operated by ExxonMobil and is a lynchpin to the proposed roughly $40 billion Alaska LNG Project.