Monday, July 4, 2016

Rogoff Rubenstein in Unique Position to Clarify Hilcorp's Relationship with Carlyle

Alaskan Dispatch News Publisher Alice Rogoff Rubenstein, the wife of Carlyle Group co-founder Devid Rubenstein, could quickly disclose any interests her family has in Alaskan oil.  Reuters reported on December 18, 2015:

Hilcorp Energy Co, a closely held U.S. independent exploration and production company, on Friday said it had formed a partnership with private equity firm Carlyle Group LP to acquire and develop North American oil and gas properties.

Carlyle's Energy Mezzanine Opportunities Fund, LP and Carlyle Energy Mezzanine Opportunities Fund II, LP have agreed to invest up to $1.24 billion in the newly formed partnership called Hilcorp Energy Development LP.

Houston-based Hilcorp, founded by Jeffrey Hildebrand in 1989, has operations in the Gulf Coast of Texas and Louisiana, the U.S. Northeast and Alaska.
ADN missed the founding of Carlyle's joint venture with Hilcorp.  A different Hilcorp story stole the headlines that December day of 2015.

"Houston oil and gas company Hilcorp goes viral after giving six-figure bonuses to every employee "
ADN ran several pieces on Hilcorp Alaska.  They ranged from Hilcorp's aggressive plans to develop Arctic oil/gas fields to concerning pieces on employee health and safety practices. 

Since its founding in late 2015 Hilcorp Energy Development LP has produced no news. The Reuters' piece stated:

Oil and gas companies are increasingly looking to private equity firms as low commodity prices sap cash flow and access to capital markets is squeezed
This would lead one to believe Hilcorp put some of its existing energy portfolio into the Carlyle joint venture.  An enterprising journalist might enlighten Alaskans on such developments.  That is if they want the public to really know