Buccaneer spuds Kenai Loop No. 4 well

Buccaneer Energy Ltd. spud the Kenai Loop No. 4 well on Sept. 11, the company said.

The local subsidiary of an Australian independent began drilling the well at its onshore Kenai Loop prospect, just north of the city of Kenai. Kenai Loop No. 1 will target seven stacked sands in the Tyonek formation, all “identified and mapped using data from the recent 3-D seismic interpretation and all have hydrocarbon indicators,” the company said.

Buccaneer said it is currently producing about 5 million cubic feet per day from two of those sands — at 9,700 and 10,000 feet — from the Kenai Loop No. 1 well. Kenai Loop No. 4 will have a bottom-hole location some 2,000 feet northwest of Kenai Loop No. 1 and will be slightly deeper than the 10,600-foot total vertical depth of that original well.

Kenai Loop No. 4 is expected to take up to 40 days to drill with 10 days of testing.

Buccaneer is drilling the well using the Glacier No. 1 drilling rig.

—Eric Lidji