ConocoPhillips puts Inlet gas fields up for sale

  • By Tim Bradner
  • Tuesday, July 28, 2015 12:28pm
  • News

ConocoPhillips is getting out of the natural gas production business in Cook Inlet.

The company has put its Inlet gas assets up for sale and plans to open a data room for prospective buyers.

However, the company’s liquefied natural gas plant at Nikiski is not included in the assets for sale, company spokeswoman Amy Burnett said.

Included in the offering are the North Cook Inlet field, which has historically been the main supplier of gas to the LNG plant, although most of the gas to the plant to support ConocoPhillips’ LNG exports now comes from other producers, Burnett said.

Also to be sold is ConocoPhillips’ interest in the Beluga gas field, where the company is also the field operator.

ConocoPhillips is one-third owner in the Beluga field. Other owners are Hillcorp Energy and the Municipality of Anchorage.

“While historically significant to the company’s investment in Alaska, the North Cook Inlet and Beluga River units are mature fields that are no longer considered core to Alaska operations. The focus will be on the company’s current North Slope operations, including the Alaska LNG project,” according to a ConocoPhillips press release.

“ConocoPhillips believes the North Cook Inlet and Beluga River units are important assets that offer good opportunities for the right buyer.

Development of a data room for the sale is in progress, and is expected to open in early August.”

Larry Persily, oil and gas adviser to the Kenai Peninsula Borough, said he wasn’t surprised that ConocoPhillips would shed older, mature properties in order to focus on new opportunities.

What is more interesting is who might purchase the assets, he said.

A logical interested party would be Hilcorp Energy, which has expanded aggressively in Cook Inlet after purchasing Chevron Corp. and Marathon Oil properties in 2012 and 2013, Persily said.

Other potential buyers could include Enstar Natural Gas Co., the regional natural gas utility, or other, out-of-state firms reported to be now investigating opportunities to supply gas to Interior Alaska.

Resources Energy Inc., a small Japanese consortium now planning a medium-sized LNG plant at Point MacKenzie, has also been looking to acquire a Cook Inlet gas supply and may be a potential purchaser.

More in News

Vice President Kelly Cooper speaks during a meeting of the Kenai Peninsula Borough Assembly in Soldotna, Alaska, on Tuesday, July 8, 2025. (Jake Dye/Peninsula Clarion)
Borough considers seasonal sales tax rate

Borough sales tax would be modified from a flat 3% to a seasonal model of 4% in summer months and 2% in winter months.

The Kasilof River is seen from the Kasilof River Recreation Area, July 30, 2019, in Kasilof, Alaska. (Photo by Erin Thompson/Peninsula Clarion)
King salmon fishing on Kasilof closes Thursday

If any king salmon is caught while fishing for other species, they may not be removed from the water and must be released immediately.

Un’a, a female sea otter pup who was admitted to the Alaska SeaLife Center in June 2025, plays with an enrichment toy at the center in Seward, Alaska. Photo courtesy of the Alaska SeaLife Center
SeaLife Center admits 2 seal pups, 1 orphaned otter

The three pups join the Alaska SeaLife Center’s ‘growing’ patient list.

James Wardlow demonstrates flilleting a salmon with an ulu during a smoked salmon demonstration, part of Fish Week 2023, on Wednesday, July 19, 2023, at the Kenai National Wildlife Refuge Visitor Center in Soldotna, Alaska. (Jake Dye/Peninsula Clarion)
Refuge to celebrate all things fish during weeklong event

Fish Week will take place July 16-19.

President Zen Kelly speaks during a meeting of the Kenai Peninsula Borough School District Board of Education in Soldotna, Alaska, on Monday, July 7, 2025. (Jake Dye/Peninsula Clarion)
School board finalizes budget with deep cuts to programming, classrooms

Multiple members of the board said they were frustrated by the state’s failure to fund education.

Former KPBSD Finance Director Liz Hayes speaks during a Kenai Peninsula Borough School District budget development meeting at Kenai Central High School in Kenai, Alaska, on Wednesday, Feb. 19, 2025. (Jake Dye/Peninsula Clarion)
School district finance department earns national awards

The two awards are based on comprehensive reviews of the district’s budget and financial reporting.

Children leap forward to grab candy during a Fourth of July parade on South Willow Street in Kenai, Alaska, on July 4, 2025. (Photo courtesy Sarah Every)
Celebrating the 4th in the streets

Kenai comes out for annual Independence Day parade.

Fire crews respond to the Bruce Fire, July 4, 2025, in Soldotna, Alaska. (Alaska Division of Forestry)
Firefighting crews respond to wildfire outside Soldotna

The 8-acre fire and two “spot fires” of less than one acre each are located near Mile 102 and 103 of the Sterling Highway.

Most Read