Buccaneer Energy announced Wednesday that it started producing gas from its recently-drilled Kenai Loop No. 4 well on Sunday.
Initial production rates are reported at 2 million cubic feet per day, but the company estimates the long-term rate could increase to 3 to 4 mcf per day. The well adds to Buccaneer’s existing production at the field including the Kenai Loop No. 1, which is producing 6.5 mcf per day, according to a press release.
The new well is currently operating within the confines of temporary production facilities, but one permanent fixtures are in place, Buccaneer estimates Kenai Loop’s total production could be increased to between 10 and 11 mcf per day.
Buccaneer Alaska President Jim Watt said in the release that success at Kenai Loop is important to the company’s overall business plan.
“We are very pleased that we were able to put this well into service within 30 days after the successful flow test in mid-January,” Watt said in the release. “The speed and efficiency our team displayed in going from discovery to production with Kenai Loop #4 is a testament to our learned experience and expertise working in the Alaska marketplace.”
— Staff report