New Gas Well to Increase Supply

Kenai rig to sell in daily auction

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By Heather Hintze
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Story Created: Jan 17, 2012 at 8:54 AM AKDT

Story Updated: Jan 17, 2012 at 8:54 AM AKDT

A new gas well on the Kenai is expected to substantially increase Cook Inlet production in the next few months.

Buccaneer Energy Alaska started production on its “Kenai Loop Number One” well on Saturday.

The company estimates the well will produce five million cubic feet per day for the first two to three months.

In addition to selling gas to Enstar through a daily auction, Buccaneer will also be able to sell any leftover gas to ConocoPhillips. Bucaneer Energy has plans for a 3-D seismic program in the Kenai area and hope to drill three to four more wells.

This summer they’ll also set up a jack-up rig in the Cook Inlet where they have plans for two offshore wells.

 

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