Buccaneer’s offshore prospect is over toward the west side of Cook Inlet and to the north of Escopeta’s.
The company already has a track record in the area, with a new producing natural gas well in Kenai. They plan to drill up to ten wells there and build a pipeline to whoever will buy that gas.
Buccaneer had hoped to be drilling offshore by this fall, but it now looks like it won’t be ready until next spring. AIDEA’s Karsten Rodvik says the state tax credits that go to the first company to drill with a jack-up rig played no part in the Authority’s negotiations with the company.
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