Buccaneer Energy Begins Alaskan Gas Production

Houston-based Buccaneer Energy has begun production at its Kenai Loop #1 well in South Central Alaska. The venture marks the first energy production in the southern part of the state for years.

CEO Curtis Burton says Buccaneer plans to follow up with additional wells at Kenai Loop on shore, as well as offshore in Cook Inlet.

“We’re going to be bringing in a drill rig up there, an offshore drill rig, in June, and that will be the first time a rig of this type has been in the Cook Inlet since 1993.”

Energy companies have focused largely on the oil of Alaska’s North Slope in recent years, neglecting South Central Alaska, where much of the state’s population is concentrated.

“The State of Alaska has been trying to jumpstart companies like Buccaneer, smaller independents, to come in and start redevelopment down in the southern region of the state for some time.”

In addition to financial incentives from the state government, Buccaneer expects to benefit from sales to the local market, where natural gas sells at significantly higher prices than in the Lower 48 states.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...