Buccaneer eying Cosmo gas production

Following a recent pair of flow tests at the offshore Cook Inlet field, Buccaneer Energy Ltd. is now considering “several development options” for its Cosmopolitan prospect.

Among those is a “dual completion” to produce between 8 million and 10 million cubic feet per day from two Tyonek sands in the recently completed Cosmopolitan No. 1 well.

The sands tested at 7.3 million and 7.2 million cubic feet per day, respectively, but Buccaneer said a recent “Absolute Open Flow Potential” test of one sand flowed at 16 million cubic feet per day. The two sands are at 4,300 and 5,500 feet, respectively. Cosmopolitan is generally considered an oil field with significant natural gas potential, but Buccaneer appears to be more interested in developing the gas for the time being.

Early on in its drilling campaign at Cosmopolitan, the company said that it encountered oil at a shallower interval than had been encountered in previous exploration efforts over the past four decades. Buccaneer said it intends to test the oil potential, but postponed a “more extensive flow test” because of the “very limited oil storage capacity” on its rig.

The Endeavour jack-up rig will soon be moving to the Southern Cross No. 1 well.

—Eric Lidji