Hilcorp Energy again lone bidder in Alaska's Cook Inlet sale

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ANCHORAGE, Alaska (AP) - Hilcorp Energy was again the only company to bid on tracts at Alaska's annual Cook Inlet oil and gas lease sale.

The Alaska Journal of Commerce reported Wednesday that the Houston-based independent producer is the only bidder for the second consecutive year.

Preliminary results from the Division of Oil and Gas show that Hilcorp spent about $298,000 on eight lease tracts over 25 square miles (64 square kilometers).

Most of the leases are on the southern Kenai Peninsula in the Anchor Point area near the onshore Nikolaevsk and Deep Creek units. Oil and Gas Director Chantal Walsh said those units are mostly gas plays, but the company also bought tracts near BlueCrest Energy's Cosmopolitan development on the shores of the peninsula.