Jaguar
| WI (operator): | 100% Buccaneer (operator) |
| Location: | Federal waters, offshore central Louisiana |
| Water Depth: | ~ 50 ft. |
| Reserves (net): | 1P 18.4 bcf + 0.9 mmbbl 2P 21.5 bcf + 1.0 mmbbl 3P 22.4 bcf + 1.1 mmbbl |
| Upside (net): | 34.0 bcf + 3,965 mmbbl (unrisked) |
| Engineer: | Ralph E. Davis Associates, Inc. (6/18/08) |
| Work Plan: | Re-enter and restore 2 producers in 2010 |
| In General: | Low-risk, low-cost, rapid turn-around gas and condensate redevelopment, extension and exploration project with PUDs in multiple zones (very similar to Pompano). |
| Operational Simplicity (drill-ready, rapid develop.): | Prior production/PUDs: Previously produced 5.6 bcf and 239,000 BC from 2 wells through 4/06. PUDs assigned to 4 wells. Infrastructure: processing requirements for 2 existing wells can be handled by existing flow lines to a production facility; readily available platform and pipeline to markets. Identified targets: 5 potential locations identified on 3D seismic with well support. Simple working environment: located in ~55 ft of water, near shore central Louisiana. |
| Technical Soundness: | Redevelopment of a field with proved reserves and a proven production history. 3D seismic enables Buccaneer to seek abundant development areas Property is within the 5th largest GoM production trend (with respect to ultimate recoverable reserves) that has produced over 7 tcf gas and 1.3 bbbl oil. In terms of production, it is the 3rd largest oil play and 4th largest gas play. |
| Multiple Pays: | Productive sands include: (1) Basal Bul (BB-1), (2) Tex X1 (which produced 3 bcf in the Petroquest 147 #1 ST) and (3) Tex 6A; BA -7 Sand was productive in the Petroquest 147 #2 ST and produced 2.7 bcf and 134,000 bbl oil. Remaining resource potential of 25-50 bcf (gross, unrisked). |
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