Buccaneer Launches Counterclaim Against Archer Drilling (USA)

In respect to the suit filed by Archer Drilling, LLC  following the termination of Archer Drilling as the project manager of the modifications and repairs of the “Endeavour – Spirit of Independence” jack- up rig, Buccaneer Energy has launched a counterclaim.

The Endeavour is owned by Kenai Offshore Ventures, LLC , which is a joint venture between Buccaneer, Singapore based Ezion Holdings Limited and the Alaska Industrial Development and Export Authority. Buccaneer is the designated Manager of Kenai Offshore.

Archer Drilling was engaged by Kenai Offshore in October 2011 under a Master Services Agreement (“MSA”) to provide project management services for the modifications and repairs required to be undertaken to the Endeavour to allow it to operate in the Cook Inlet, Alaska.

After the termination of the contract Archer field lawsuit against Buccaneer, claiming more than $6 million in unpaid invoices are owed by Buccaneer.

Buccaneer yesterday filed a counterclaim in the District Court, Harris County Texas against Archer Drilling for “conversion, fraud, and interference in contracts relating to the damages sustained by the Company and the Company’s wholly owned subsidiary Kenai Drilling, LLC (“Kenai Drilling”), among others.”

“The counterclaim outlines the damages caused by Archer Drilling’s misrepresentations, misconduct, and delays resulting millions of dollars of damage, including but not limited to the loss of up to US$30.0 million in revenue to Kenai Drilling because of the inability to use the Endeavour to undertake drilling operations within the Cook Inlet. Kenai Offshore is in the process of preparing its own counterclaim against Archer Drilling for damages,” Buccaneer said.

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