Buccaneer Updates Alaska Jack-up Rig Work Progress

Work on the 'Endeavour' rig by local contractors in Homer nears completion prior to deployment for shallow water drilling off Alsaska coast.

Before its acquisition in November 15, 2011, the Endeavour had been idle for several years, and Buccaneer and its venture partners, AIDEA and Ezion, deemed it necessary to complete extensive upgrades and repairs to ensure that the rig was ready for safe, long-term operations in Alaska. As such the rig was dry docked at the Keppel Fels yard in Singapore for 6 months undergoing repairs and upgrades that have continued in Homer, Alaska.

“The Endeavour is a world class Jack-up, and it was essential that we completed comprehensive inspections and testing all of the systems before deployment,” said Andy Rike, EVP Operations. “While it has taken longer than expected, we are nearing completion on all tasks and are fully confident that the rig is ready for safe, environmentally sound operations. Once the permits are approved we will be ready to go.”

“Buccaneer and its venture partners firmly believe that the Cook Inlet basin remains one of the most underdeveloped hydrocarbon basins in North America, and in the coming years the Endeavour will play a significant role in realizing that potential,” said Jim Watt, President. “The Endeavour will not only revitalize Cook Inlet exploration and development, but with this recent round of upgrades and refitting, the Endeavour is now suitable to support exploration and development operations in the Arctic waters such as the Chukcki Sea.”