Operations

Our Preferred Suppliers have agreed to terms including:

• Putting rigs and other oilfield resources in place in exchange for equity in projects, structures;
• Negotiating structured payments from production; and
• Other novel payment and incentive plans.

In today’s market, the supplier possesses unparalleled knowledge and is the expert in those services provided by his company. Buccaneer has focused on a win-win relationship with our supplier team and relies on the supplier’s in-depth knowledge of his product and services, rather than over-committing to expanded in-house resources. This does not mean the supplier is left unsupervised; rather, he works in concert with a Buccaneer Project Manager to achieve lower costs, more rapid implementation and superior results.

Buccaneer’s preferred provider relationships are outlined in the panel opposite and cover: drilling rigs and services, imaging and reservoir evaluation, seismic services, public relations, engineering services and completion goods and services.

Buccaneer’s preferred supplier agreements are broad, but often allow the Company to acquire services and hardware:

• At a discount,
• In times of shortage (at commercial rates), and
• At times, in exchange for equity or production.