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Buccaneer adds lease at NW Cook Inlet
Kristen Nelson Petroleum News
Buccaneer Energy Ltd. said in a mid-June statement that it has added a lease to its Northwest Cook Inlet prospect, a group of tracts north and east of the North Cook Inlet gas field operated by ConocoPhillips Alaska.
The lease, the company’s sixth in this group of offshore leases, was acquired from Dan Donkel and Sam Cade. The lease, ADL 390742, has an expiration date of Sept. 30, 2013.
This group of leases wraps the northern end of the North Cook Inlet unit and leases held by ConocoPhillips adjacent to the unit on the east.
Buccaneer said it believes productive horizons in the North Cook Inlet unit extend north and east into its lease area and said it is “targeting these and other reservoirs that are beyond the reach of drilling from the existing ConocoPhillips production platform,” the Tyonek.
Aussie independent Buccaneer, an independent based in Sydney, Australia, initially picked up Cook Inlet acreage from Stellar Oil and Gas. Buccaneer said in March that it was acquiring 57,600 gross onshore and offshore acres from Stellar. The Stellar acreage included some 10,000 gross offshore acres at North Middle Ground Shoal and Northwest Cook Inlet and more than 47,000 gross onshore acres on the Kenai Peninsula at the North Sterling and West Eagle prospects.
Buccaneer was the apparent high bidder on three tracts in the state’s areawide oil and gas lease sale in May, adding tracts adjacent to existing acreage on the Kenai Peninsula, at the southern edge of the block adjacent to the North Cook Inlet gas field and a tract west of the Nicolai Creek unit on the west side of Cook Inlet. Also in May, Buccaneer announced a binding agreement to acquire between 50 percent and 100 percent working interest in four leases at Middle Ground Shoal.
Alaska Division of Oil and Gas online records dated early June were not yet showing any acreage in Buccaneer’s name.
—A copyrighted oil and gas lease map from Mapmakers Alaska was a research tool used in preparing this story.
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