Second jack-up rig arrives in Cook Inlet

The Endeavor jackup rig at Homer. (Photo/Homer News)

Australia-based Buccaneer Energy Ltd. said Monday that its jack-up rig Endeavour has arrived in Cook Inlet. The rig is aboard the heavy-lift vessel Kang Shenh Kau and is now at Homer, a port on Lower Cook Inlet, where it will undergo final regulatory inspections before being towed to its first drilling location, Buccaneer spokesman Dean Gallegos said in a statement.

Buccaneer had hoped to drill two wells in North Cook Inlet before winter ice forms but due to the late arrival of the rig only one prospect, “North West Cook Inlet”, will be drilled before the rig is moved to the southern, ice-free part of the Inlet where it will drill another prospect, “Cosmopolitan.”

Both North West Cook Inlet and Cosmopolitan are oil prospects, although Buccaneer has said that it also expects to encounter gas.

The Endeavour is the second jack-up rig to be working in Cook Inlet. Spartan Drilling Co.’s Blake 151 rig has been in the Inlet all summer completing an exploration well for Furie Operating Alaska, a Houston-based independent.

“The delivery of the Endeavour completes the first phase of a business plan that began almost 2 years ago with the selection of the Endeavour, formerly the Adriatic XI, and subsequent modification and repairs in Singapore’s Keppel shipyard,” Gallegos said.

The rig is owned by Kenai Offshore Ventures, LLC, a consortium of Buccaneer, Ezion Holdings of Singapore and the Alaska Industrial Development and Export Authority, a state-owned Alaska development corporation.

08/28/2012 - 6:42am