Buccaneer: Endeavour Almost Good to Go (Alaska)

Buccaneer: Endeavor Almost Good to Go (Alaska)

Buccaneer Energy has today announced that works on Endeavour jack-up rig are nearing completion and the Endeavour will soon be ready for operations.

Prior to its acquisition in November 15, 2011, the Endeavour had been idle for several years, and Buccaneer and its venture partners, AIDEA and Ezion, deemed it necessary to complete extensive upgrades and repairs to ensure that the rig was ready for safe, long-term operations in Alaska. As such the rig was dry docked at the Keppel Fels yard in Singapore for 6 months undergoing repairs and upgrades that have continued in Homer, Alaska.

“The Endeavour is a world class Jack-up, and it was essential that we completed comprehensive inspections and testing all of the systems before deployment,” said Andy Rike, EVP Operations. “While it has taken longer than expected, we are nearing completion on all tasks and are fully confident that the rig is ready for safe, environmentally sound operations. Once the permits are approved we will be ready to go.”

Buccaneer will, once it receives all the necessary approvals, start its exploration drilling program at the Cosmopolitan prospect, which is located in an ice free zone in lower Cook Inlet, Alaska.

November 14, 2012