Buccaneer Energy (BCC) is ready to start the Party, they are bringing a rig to the Inlet
Seeking Alpha Analyst Since 2010
"Small Independent, Buccaneer Energy (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." Read World Energy's Post.
I have been enjoying my world up here in Alaska spending most of my time working on my new house and only casually keeping up with what is happening in the oil patch. I have seen the announcements that LNG plant is closing, the predictions that we are running out of gas, the news about the reduced oil going into the pipeline and nothing really happening.
I read with interest the piece our good Governor Sean Parnell put into the Wall Street Journal about increasing our domestic drilling, nice sentiment but nothing much comes from it.
Of course recently the discussion around the inlet has been about a the possibility that a Jack up might be coming to the inlet. Well, last year I wrote about the is in a piece called "Party with a Pirate" and at the time I was very excited that Buccaneer might be the catalyst to actually make this a reality, but then nothing much happened. Well, recently the local papers have been reporting that Escopeta and Buccaneer Energy are in a race to bring a rig. Good old Danny Davis finally looked like he might be coming through for us.
Except he doesn't have a Jones Waiver and he might not have the right permits to drill where he wants to drill, but no matter. Then this morning I found this nice little article on Seeking Alpha. It seems there is more to a Jack Up than I thought. Or perhaps I was taking it for granted that if it floated it would work.
It is quite obvious that I picked the right horse. After reading the coverage of the Spartan I assumed that it was at least capable, after reading this piece by World Energy I am not so sure. Has anyone asked Danny Davis the same questions that World Energy asked Curtis Burton?
I won't steal their thunder at World Energy, but this is a must read for anyone who cares about our industry and our environment.
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