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EXPLORATION

Swashbuckling junior gets the rig

ALASKA-focused junior Buccaneer Energy has secured $US30 ($A28.9 million) from the Alaskan Industrial Development and Export Authority for the purchase of a jack-up rig for use in the Cook Inlet.

James McGrath
Swashbuckling junior gets the rig

Buccaneer anticipates the total cost of the acquisition, modification and mobilisation of the rig to be $85 million. The rig is currently being cold-stacked in Asia and features 410-feet legs, four cranes,...

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