Homer Alaska - News

Story last updated at 3:31 PM on Wednesday, September 26, 2012

Buccaneer to discuss drilling plans for East End Road

Representatives of Buccaneer Energy are scheduled to give a 10-minute presentation on the company's operations, including the West Eagle Unit project on East End Road, at the Homer City Council's Oct. 8 meeting, according to Jay Morakis of JMR Worldwide, the public relations firm representing Buccaneer. "And we plan to have other outreach meetings prior to drilling," Morakis said.

Buccaneer has nine leases from the state obtained in 2006 and 2010, and has begun the permitting process. "We are currently on schedule to have all of our permits in place before we begin drilling at the West Eagle project," said Morakis. The site is approximately 20 miles east of Homer and about five miles from the north shore of Kachemak Bay, on a hill at an elevation of about 1,910 feet. The surface rights are owned by the Kenai Peninsula Borough. Operations are to occur within the footprint of an existing gravel pit.

"The first well is exploratory and is primarily a gas test with a possibility for oil," said Morakis. Plans call for drilling the initial well to a depth of 10,000 vertical feet within a 30- to 60-day period sometime during the first quarter of 2013.