Buccaneer Energy West Eagle plan of operations approved


Buccaneer Energy West Eagle plan of operations approved


SYDNEY -- The Alaska Department of Natural Resources (DNR) has approved the plan of operations for Buccaneer Energy’s 100%-owned West Eagle Unit #1 well.

The company requires several additional approvals before drilling operations commence. A drilling permit must be approved by the Alaskan Oil and Gas Conservation Commission (AOGCC), which takes approximately 30 days. Bucaneer said it anticipates lodging that application shortly. Additionally, the company’s oil spill plan (C-Plan) amendment needs approval by the Alaska Department of Environmental Conservation (ADEC). Bucaneer applied for this amendment in March 2013, and it is currently under final review by ADEC.

The company plans to spud the West Eagle #1 well on completion of the Kenai Loop #1-4 well using the Glacier drilling rig, currently on location at Kenai Loop. On completion of the West Eagle #1 well, the Glacier drilling rig will move back to Kenai Loop to continue the Kenai Loop development program.

The Glacier drilling rig was secured by Buccaneer in 2012 for use on its land drilling projects, and will be utilized for the West Eagle prospect due to its lower risk profile and improved economics, when compared with alternative drilling options

The primary objective of the West Eagle #1 well targets a 150-ft Upper Tyonek interval of sandstones that had gas shows in a down-dip offset well. Up-structure, on a northeast-to-southwest trending ridge, the West Eagle well will test a large amplitude anomaly mapped on 233 mi of 2D seismic data. The anomaly size is estimated at more than 4,000 acres.

The West Eagle #1 well will also test a deeper, large stratigraphic pinch-out, which is part of what is often called the East Side Oil Play, made up of basal Tertiary or older potential reservoirs up-dip from a postulated middle Jurassic oil source conduit system. This deeper objective is also amplitude supported.

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