Anadarko Canada increases MacKenzie Delta Basin holdings
In a separate transaction, AEC Oil & Gas [USA] Inc., a wholly owned subsidiary of Alberta Energy Company Ltd., purchased from Anadarko a 33.33% working interest in Alaska North Slope acreage held under exclusive lease option by Anadarko. The lease covers 3.1 million acres under option from the Arctic Slope Regional Corp. (ASRC) in the Foothills region south of Prudhoe Bay. The purchase price was not disclosed. Anadarko will serve as operator, with a 66.67% working interest.
"Increasing our Canadian holdings in the MacKenzie Delta fits our long-term strategy of providing natural gas to North American markets," said Robert J. Allison, Jr., Anadarko Chairman and CEO. "We believe Arctic gas will find its way to Canadian and American consumers through one or more of the pipelines being proposed from Canada and Alaska. Because Anadarko also holds a significant acreage position on the Alaska North Slope, this purchase puts us in a better position to have gas available for delivery into whatever pipeline is ultimately built, whether from Alaska or Canada or both."
Allison added, "We're pleased to have Alberta Energy as a partner in our ASRC holdings in Alaska. Their experience in the Canadian Rockies should apply to the Foothills and complement our own expertise in Alaska."
The 37.5% working interest in the MacKenzie Delta purchased by Anadarko from AEC consists of two onshore blocks adjacent to the natural gas-rich Parsons Lake Field. Alberta Energy serves as operator, with a 37.5% working interest in the two blocks; Gulf Canada owns the remaining 25%.
The purchase from AEC augments Anadarko's other Canadian Arctic holdings. These consist of non-operated working interests ranging from 3.4% to 24% in 10 significant discovery licenses and one production license, which combined cover more than 142,000 acres. This acreage includes the Amauligak Field, the largest offshore field in the Canadian portion of the Beaufort Sea.
In another development, Anadarko Canada Corp. submitted a successful bid for an exploration license on one of the MacKenzie Delta/Beaufort Sea tracts offered in the August 14, 2000 lease sale by the Minister of Indian Affairs and Northern Development. Anadarko acquired a 100% working interest in Exploration License No. 407, which is centrally located in a region where 53 fields with reserves of 9 trillion cf of gas and 1 billion bbl oil already have been discovered. Exploration License No. 407 covers about 176,000 acres and is immediately northwest of the giant Taglu Field and near the AEC/Anadarko MacKenzie blocks mentioned above.
Edited by Dev George
Managing Editor, Oil and Gas Online