Operations Strategy
To be successful in the shallow water and onshore GoM region, Buccaneer must replenish its inventory of drillable prospects so that rapid decline assets can be continually drilled out and maximise operational uptime on producing fields.
Buccaneer’s acquisition strategy is based on:
- Acquiring low-cost, low-risk properties left-behind or passed-over by large producers; and
- Leveraging an increasingly tight market for oil and gas hardware and development resources.
Buccaneer plans to increase the long-term value of its portfolio by developing its reserves and growing its assets. Effective risk management will be critical to the success of these efforts. Buccaneer has created a ‘Risk and Exposure’ matrix that depicts the type of opportunities on which the company plans to focus.
The Buccaneer strategy focuses on the following.
- Acquiring positions in low-risk PUD and resource developments and known producing properties (Type A) when pricing, timing and access is optimal.
- Developing low-risk exploration (Type B and C) and exploitation opportunities in the Low-Cost/Low-Risk field.
- Accessing and potentially leveraging Low-Cost/Higher-Risk (and higher-reward) exploratory projects (Type D and E), where appropriate.
Strategy Focus
PUD and Resource Plays
These opportunities are defined as prospects with existing or prior production history that have to be developed. These plays are low in risk and have a higher chance of success. However, the entry ...
Read more...Re-completion & Behind-Pipe Reserves
These opportunities are defined as prospects with existing or prior production history that have been overlooked. These plays are again lower in risk and have a higher chance of success in general.
Read more...Field Offset & Current Production Trends
These opportunities are defined as new prospects in proven producing trends, offsetting existing discoveries. These plays are lower in risk and have a higher chance of success in general. The key ...
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D & E: Exploration Plays
Buccaneer defines its exploration targets as drilling new prospects in proven producing trends or plays. Exploration has a wide distribution of target types: it can mean “rank” wildcat drilling in a ...
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