Borough Approves Lease Of Anchor Point Parcels To Hilcorp

first_imgThe borough owns the surface and mineral estate of several parcels near Anchor Point, two of which were purchased by the borough for use by the Anchor Point Fire & Emergency Medical Service Area. The assembly passed the ordinance 8-1, at their meeting on Tuesday, November 20. Assemblymember Willy Dunne was the only vote in opposition. Hilcorp currently has oil and gas leaseholds of surrounding parcels and is working on production plans for the new lease area. The negotiated royalty rate with Hilcorp is 12.5 percent, with the intent that 9.75 percent of the royalties would be distributed as revenue to Anchor Point Fire and Emergency Medical Service Area. Assemblymember Dale Bagley: “Oil and gas is what makes the Kenai Peninsula go around, and makes Alaska do well. I am happy that there is a well down there, and I support drilling anywhere on the Kenai Peninsula.” last_img

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