State agencies approve transfer of BP’s upstream assets to Hilcorp

first_imgState law requires DNR to consider whether to approve the transfer of BP’s working interest in 176 oil and gas leases within the Prudhoe Bay, Point Thomson, and Milne Point oil and gas units on the North Slope As part of the deal, BP will be divesting its stake in the producing Prudhoe Bay oilfield to Hilcorp (Credit Rickmouser45/ The commissioners of Alaska’s Department of Natural Resources (DNR) and Department of Environmental Conservation (DEC) have approved the transfer of BP’s oil and gas leases to Hilcorp Energy Company as part of the $5.6 billion sale the two companies announced in August 2019.Subject-matter experts in DNR’s Division of Oil & Gas, DEC, other departments on the Governor’s Oversight Committee on the BP-Hilcorp Transaction (GOC), and outside experts contracted to analyze Hilcorp’s financials, conducted a diligent, thorough analysis of the proposed transaction and secured necessary agreements to ensure it was in the state’s best interest.“Today’s announcement represents a major milestone in the BP-Hilcorp review process,” said Governor Mike Dunleavy. “I thank the Department of Natural Resources and Department of Environmental Conservation for their diligent efforts to protect Alaskans’ interests throughout every step of this historic transaction.”State law requires DNR to consider whether to approve the transfer of BP’s working interest in 176 oil and gas leases within the Prudhoe Bay, Point Thomson, and Milne Point oil and gas units on the North Slope. BP’s 256 surface use permits have also been amended to reflect modifications, including the new permit holder. Hilcorp will also assume the role of operator of the Prudhoe Bay unit. Making this determination required significant due diligence, evaluating Hilcorp’s financial standing and obtaining financial assurances for the substantial increase in lease, permit, easement, and right-of -way obligations this deal represents. An agreement to guarantee secondary liability for dismantlement, removal, and restoration (DR&R) of existing facilities and contaminated sites has also been secured from BP Corporation North America.“After ten months of in-depth analysis, stress-testing of Hilcorp’s financial capacity to hold and operate these assets, and successfully securing secondary liability guaranties from BP, I am confident that the transfer of these leases and facilities both protects and advances Alaska’s interests.” said DNR’s Commissioner Corri Feige.DEC’s role in this process included the transition of environmental permits and plan approvals, ensuring Hilcorp’s financial responsibility for these facilities, and establishing responsibility for existing contaminated sites.DNR and DEC’s actions represent final state review and approval of the transfer of BP’s upstream assets — those involved in producing oil and gas before it enters the midstream for transport to the market for refining into products. The most significant element of BP’s midstream assets in Alaska is the Trans-Alaska Pipeline System, and review of this transfer is ongoing. DNR’s State Pipeline Coordinator is continuing to apply the “fit, willing, and able” (FWA) test in evaluating Hilcorp’s ability to accept and manage the midstream assets. The Regulatory Commission of Alaska is continuing its own FWA analysis and will render a separate decision, which will be issued by September 28, 2020.The GOC has prepared a report to the Governor summarizing the jurisdiction and due diligence performed by the executive branch agencies in the adjudication of this sale. Source: Company Press Releaselast_img read more

PREMIUMCan Indonesia lead global war against religious intolerance? Scholars discuss

first_imgGoogle Facebook LOG INDon’t have an account? Register here Log in with your social account Linkedin Indonesia may be active on the international stage in promoting interfaith dialogue, but current conditions at home raise questions whether the country can take the lead in the global fight against growing religious intolerance.The aspirations and the confidence exist that the country with the world’s largest Muslim population, and with a functioning democracy, has what it takes to lead the global campaign for religious moderation to fight against radicalism and extremism.Scholars in a discussion last week agreed that Indonesia was well positioned to take a leadership role, but they tempered their expectations factoring in Indonesia’s domestic situation, where intolerance has been on the rise, and where radicalism and extremism always lurk amid poverty and growing wealth inequality.Vice President Ma’ruf Amin, a Muslim scholar, joined the chorus of scholars i… Topics : Forgot Password ? #Islam Islam #religiousintolerance Indonesia #Indonesia radicalism #radicalismlast_img read more

Bauer power carries Badgers

first_imgWhen the Wisconsin women’s hockey team hits the ice this weekend against conference rival Minnesota-Duluth, all eyes will be on Badgers senior forward Sara Bauer. That’s because Bauer will in all likelihood reach the milestone of 200 career points, as she is just two points away from that plateau.There is really very little left to say about Bauer; all of her accomplishments have been written about and poured over a million times. Yet at the same time, it is difficult to not talk about her — she’s that good.That was evident this past weekend, when Wisconsin trounced Minnesota State. Riding a seven-game winning streak, the Mavericks weren’t supposed to go easy. But they did. The Badgers scored 13 goals in the series. The Mavericks scored none.Bauer starred in the Minnesota State dismantling, racking up eight points in the two games. She really shined in the second game when the Badgers scored eight goals. Bauer had two of them — including one that was completely unassisted — and added three assists for a five-point game.The eight-point series gave Bauer a season total of 52 points, good enough for best in both the conference and nation. Bauer leads the WCHA points race by a whopping 15 points over teammate Meghan Duggan. The best scorer in the WCHA who doesn’t wear a Wisconsin uniform is Ohio State junior forward Erin Keys, who has 35 points.The crazy thing is that this success is nothing new for Bauer. She became the Badgers’ all-time leading scorer when she passed former Badger Meghan Hunter earlier this season. As for the WCHA, she has led the conferences in scoring all season long and has been among the best each of the past two seasons. Just look at the numbers: Every season, she has improved. Between her freshman and sophomore years she jumped from 33 to 55 points. She followed that up with 58 points last season and currently holds an astronomical plus-97 rating over the past three seasons.”When you come in as a freshman, you don’t really know what to expect,” team captain Bobbi-Jo Slusar said. “That first year, she did very well, but after freshman year she knew what she could do and what role she played on the team.”Bauer was recognized as the nation’s best female player last season when she was awarded the Patty Kazmaier Award. At the rate she’s going, she very well could win it again this season. With six games remaining in the regular season, Bauer could easily surpass her season point record of 58 — she is averaging nearly two points per game.She’s even more impressive when you look at the fine print. Sophomore year: She became just the third Badger to ever record a 50-plus point season. Junior year: The Badgers did not lose a single game when she scored a goal, and lost only one game when she recorded a point. That makes for a 44-1-2 record when recorded a goal or assist. Not too shabby.Perhaps the most astonishing thing about Bauer’s success is how humble she is about it. Most players who are about to break the 200 career points mark would talk about how great they are. But not Sara Bauer. Bauer hates making a perceived spectacle of herself, shying away from media attention and passing the praise on to teammates. On the verge of becoming just the seventh player in NCAA history to score 200 points, she is modest as always.”Points was never something I paid attention to,” Bauer said. “I think the progress we’ve made over the past few years is important [because of] what we’ve done as a team and how we’ve been able to take a step forward every year. … I’ve played alongside some great players. I think any time you’re more of a playmaker than a goal scorer, your success is dependent on other people.” Bauer said it best; she is a playmaker. With 34 assists already this season, Bauer is a master at finding an opportunity and then exploiting it. She’s the one who makes the play happen, fire off a pretty pass, and have her linemates Duggan and Jinelle Zaugg finish the deal.And Bauer leaves no doubt that any individual accomplishments this year are secondary to team success.”That’s the goal every year. You want to go after the championship,” Bauer said. “That’s the whole idea — as a team you want to go after that as your biggest goal.”It’s that kind of drive that helps her be a leader for Wisconsin. While she might shy away from attention, that shouldn’t be confused with a lack of leadership. Her quiet lead-by-example attitude is why she is an assistant captain.”She’s not the faster skater or has the hardest shot,” Slusar said. “She just sees the ice better than anyone on this team or anyone in the league. … She’s just a well-rounded individual, both on the ice and off the ice. … She’s respected, and when she says something, everybody listens. “She’s very modest and she’s very skilled and she’s already accomplished a lot,” Slusar continued in what might be one of the biggest understatements of the year.With the Badgers searching for a repeat of last season’s national championship, fans will also have an eye on whether Bauer repeats as winner of the Kazmaier Award. Scoring her 200th point will be just another notch in her belt, as she goes about her business quietly, leading on the ice and avoiding reporters afterward.last_img read more