Standard & Poor’s put Hilcorp on notice of a possible ratings downgrade in August, shortly after the deal with BP was announced. Pour autoriser Verizon Media et nos partenaires à traiter vos données personnelles, sélectionnez 'J'accepte' ou 'Gérer les paramètres' pour obtenir plus d’informations et pour gérer vos choix. View and compare HILCORP on Yahoo Finance.

(The RCA is the state agency that will decide whether Hilcorp’s finances can be kept confidential.). Because it is a privately owned company, little is publicly known about Hilcorp’s financial picture. Contact Us. Houston, TX 77002 Hilcorp Energy I LP / Hilcorp Finance Company is set up as a dual issuer and operates as a special purpose entity. United States. The five-member commission said its interpretation of state statute prevents it from releasing the documents because they are not required to be filed with the Federal Energy Regulatory Commission. But if Hilcorp borrows too much, the agencies could downgrade the oil company’s rating. “The singular control Mr. Jeffery Hildebrand wields over (Hilcorp Energy’s) operations through his ownership of (Hilcorp Energy’s) general partner is also considered in its credit profile; however, the company has prospered under his control and leadership, while maintaining a strong operating profile,” Moody’s said. The commission will decide on that larger issue by Sept. 28, the commission’s order said. Hilcorp Ventures, Inc. has 2 total employees across all of its locations and generates $675,603 in sales (USD). Moody’s expressed concern about Hilcorp’s rising debt in a December report. 300 W. 31st Avenue Hilcorp has successfully invested in mature oil fields, exploiting under-performing wells and creating diversified operations across the U.S., the report said. Hilcorp did not respond to requests for comment for this article, including how much money it might seek to borrow to finance the acquisition. The Regulatory Commission of Alaska has said it will make a determination by March 12, 2020, on whether the financial statements will be disclosed to the general public. Nos partenaires et nous-mêmes stockerons et/ou utiliserons des informations concernant votre appareil, par l’intermédiaire de cookies et de technologies similaires, afin d’afficher des annonces et des contenus personnalisés, de mesurer les audiences et les contenus, d’obtenir des informations sur les audiences et à des fins de développement de produit. But the company’s debt levels rose over the past year, the report said.

Hilcorp has 1,330 employees across 29 locations. “With a seasoned management team, (Hilcorp Energy) has continued to demonstrate a strong track record of replacing production and adding reserves through the drill bit and via targeted acquisitions,” Moody’s said in the report. But the newspaper said in that report that coronavirus fears had increased challenges for energy companies trying to borrow money. “With this in mind, I believe that airing these documents publicly and subjecting the entire transaction to intense debate far outweighs the petitioners’ interest in keeping them confidential,” McAlpine said in a two-page dissent. 1111 Travis Street “Alaskans are being denied the information we need to be good stewards of our resources.”. The Company was formed for the purpose of issuing debt securities to repay existing credit facilities, refinance indebtedness, and for acquisition purposes. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Brooks could not be reached for additional comment. Moody's Investors Service 11 Feb 2016 Rating Action Moody's concludes reviews for 11 US Ba-rated E&P companies. Alaska Journal breaks the news that matters to business.
Découvrez comment nous utilisons vos informations dans notre Politique relative à la vie privée et notre Politique relative aux cookies. The public deserves to have access to Hilcorp/Harvest’s financial information in order to determine whether the transfer of operating authority to Hilcorp/Harvest is in the best interest of the public. For now, the lower prices could make it more difficult for Hilcorp to borrow cash at favorable terms, Tsocanos said. View and compare hilcorp,EXXI on Yahoo Finance.

Outside Anchorage, toll-free: 800-478-4200, Copyright © Binkley Co. All rights reserved. See insights on Hilcorp including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Ben Tsocanos, an analyst with Standard & Poor’s, said the agency has seen Hilcorp’s financial plan. If Hilcorp borrows too much, it could put itself and investors at financial risk, said Jim Posey, a former commissioner for the Alaska Public Utilities Commission, a precursor to the Regulatory Commission of Alaska. Hilcorp and BP filed for a transfer of the pipelines assets in September. He said the companies did not originally state, as required, that they were seeking the confidentiality protections of the statute. Moody's Investors Service 10 Mar 2016 Credit Opinion Hilcorp Energy I, L.P: Update Following Recent Confirmation of Ba1 Rating . The company is in discussion with those banks to help determine the best plan, she said.

Alaska Journal of Commerce A review that could lead to a downgrade will be closed once the sale is complete, perhaps late this spring, the agency said. BP and Hilcorp have addressed public concerns about Hilcorp’s financial capabilities in statements filed with the Regulatory Commission of Alaska.

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