Buccaneer completes jackup rig purchase for Cook Inlet project

Buccaneer Energy Ltd. says its Kenai Offshore Ventures organization has completed acquiring from Transocean Offshore Resources Ltd. the GSF Adriatic XI jackup drilling rig for $68.5 million.

Offshore staff

SYDNEY, Australia – Buccaneer Energy Ltd. says its Kenai Offshore Ventures organization has completed acquiring from Transocean Offshore Resources Ltd. the GSFAdriatic XI jackup drilling rig for $68.5 million.

The rig has been renamed Endeavour – Spirit of Independence.

The Marathon LeTourneau 116-C jackup is in Singapore for modifications to winterize it and to return it to duty following a cold stack.

The first well for the Endeavour is expected to be at Buccaneer’s Southern Cross project offshore Alaska. Drilling is expected to begin 2Q 2012 on the Cook Inlet site.

11/15/2011

More in Drilling & Completion