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Jack-Up Rig heading for the Cook Inlet, Go Buccaneer Energy (BCC)

For any of you who have been wondering what is the best way to get a rig, and then get a rig in the cook inlet you need to read this article.

Small Independent, Buccaneer Energy (NYSE:BCC) is bringing a “Big Rig” to the Cook Inlet of Alaska, putting a jack-up in the Cook Inlet for the first time in over 16 years.

I found it here on the Chron.com

It seems the Buccaneer Team, headed by Curtis Burton have been very busy getting their act together to bring a rig to the Cook Inlet.  One thing that has always impressed me about this team is their ability to “think it through”.  It is quite obvious that Curtis knows the rig business and he knows how to build a consensus.

Now, what will a drilling company bring to the Inlet, only the most important piece of equipment the companies in the Inlet need…a rig.  Without a rig the Inlet remains an area with great potential, now the Inlet will finally realize that potential in short order.

Curtis has always been a leader in the industry.  When he decided to take Buccaneer to Alaska he knew that in order to realize the potential he would have to have a rig.  When no one was willing to bring one, at least one he felt comfortable with, he put a plan together to get one.  Not much seems to be able to stop this team of Buccaneers.

I love this comment, when asked what the rig means to Alaska  “In three words, Jobs, Revenue, and security.”  And when asked why he needs such a big rig,  the Cook Inlet of Alaska has frequent Ice Flows and when steel gets cold it gets brittle.  When cold steel meets hard ice it has a tendency to bend, crack and even buckle.  This can be particularly bad around some of the best drilling locations in the Inlet.” When asked about why buy it in Singapore, “Of course since we were going to be taking the rig to Alaska we also wanted to avoid any conflicts with the Jones Act, meaning we wanted the rig to be in a foreign port and relatively close to Alaska.”

So where does this little company go from here, I would say the days of being a little company are pretty limited.  With the only major impediment being getting a suitable rig into the inlet taken care of, here we go.