Buccaneer reports on Kenai Loop logging

Buccaneer Energy Ltd. identified up to 173 feet of gross pay in the Upper Tyonek formation from its first well in Alaska, the company announced on May 18.

The company identified three zones in an interval between 9,421 and 10,680 feet in the Kenai Loop No. 1 well, located on the Kenai Peninsula north of the Cannery Loop unit.

Buccaneer identified 37 feet of gross pay in an upper sane of Zone 1, “confirmed as being quality reservoir with high porosity and good permeability.” The company reported a gas kick in this zone and is calling the sand upper sand “a high priority test target.” An additional 12 feet of lower sand is of a lesser quality, “but remains attractive.”

Buccaneer described Zone 2 as “an additional massive sandstone zone of approximately 50 feet of gross pay which logs indicate has good porosity and permeability.” The company is also categorizing that zone as a “high priority test target.” Logging uncovered 38 feet of gross pay in Zone 3, also confirmed as having good porosity and permeability.

Buccaneer plans to continue logging the interval to find other potential targets.

—Eric Lidji