Buccaneer strikes twice at Pompano in GoM

Buccaneer Energy Ltd. successfully tested the second well at Pompano, 11 km (7 mi) offshore Texas in 55 ft (18 m) of water.

Offshore staff

SYDNEY, Australia --Buccaneer Energy Ltd. successfully tested the second well at Pompano, 11 km (7 mi) offshore Texas in 55 ft (18 m) of water.

The well tested two gas sands totaling 74 ft (22 m) of net gas pay in a dual-completion well.

"These two sands are expected to produce at a combined rate of 7 MMcf/d plus 30 bbl. of high quality condensate," says Dean Gallegos.

Operator AnaTexas Offshore plans to put the well on production within 10 days.

"We choose the Pompano project as our first because the infrastructure is already was already in place," Gallegos says. "The project has two offshore platforms and sales pipelines and this has saved us approximately $15 million in development costs and six to nine months of time and the benefits of having this infrastructure in place are now bearing fruit."

04/24/2008

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