2020 - Glacier Oil & Gas - Alaska North Slope Divestiture

Overview
Opportunity to acquire a turn-key, operated, cash flow positive asset on the North Slope of Alaska with significant exploration and exploitation potential from highly prolific stacked pay reservoirs
- 100% operated
Gross production of ~2,000 bo/d primarily from the Badami & Killian sands
- 100% oil with premium Alaska North Slope (“ANS”) oil pricing
Hilcorp/BP retention of ARO and select plugging obligations limits buyer exposure
Low risk, quantified upside development including stacked pay horizontal development of the Badami and Killian sands
- Killian sands primed for development following the B1-07 playopener
– Has produced over 700 mbo since 2018 & currently making 1,250 bo/d
- 75 mi seismic survey covers entire block and confirms subsurface model
Existing Glacier-owned, BP-constructed infrastructure supports full field development and optionality for third party revenue / volumes
- 38,500 bo/d facility with capacity for additional volumes on or offset the unit
- Multiple access points via barge landing and 5,500 ft airstrip
- 70 mbo/d capacity Nutaaq oil pipeline owned and operated by Glacier (12” diameter, 25 mile) that connects Point Thompson to Endicott
VDR available with PHDWin model and LOS
Contact Sandra Ramsey at Glacier.AK@bmo.com or 281-979-0374 for a Confidentiality Agreement (linked below) or access to the VDR