Bill Wielechowski
32:47 - 33:40
"HEX, it was unbelievably unfortunate that the state got leveraged, the state got put in a position where because HEX had overriding royalty interests of 12.5%, it made the projects undevelopable, Kitchen Lights undevelopable. And so the state agreed to massively cut our royalty share with really no protections for providing that to Alaskan consumers or anything else. So I would say really colossal mismanagement by the administration."
“HEX, it was unbelievably unfortunate that the state got leveraged, the state got put in a position where because HEX had overriding royalty interests of 12.5%, it made the projects undevelopable, Kitchen Lights undevelopable. And so the state agreed to massively cut our royalty share with really no protections for providing that to Alaskan consumers or anything else. So I would say really colossal mismanagement by the administration.”
- Speaker
- Bill Wielechowski
- Timestamp
- 32:47 – 33:40
- Community
- Alaska News
From the transcript
It should have been taken away. HEX, it was unbelievably unfortunate that the state got leveraged, the state got put in a position where because HEX had overriding royalty interests of 12.5%, it made the projects undevelopable, Kitchen Lights undevelopable. And so the state agreed to massively cut our royalty share with really no protections for providing that to Alaskan consumers or anything else. So I would say really colossal mismanagement by the administration. And the utilities actually pointed this out several years ago when they sent a letter— a number of the utilities in Southcentral sent a letter to the governor, to the attorney general, saying, We don't think Hilcorp, quite frankly, is living up to the duties of their lease obligations.
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