Drilling Rig Selected for Allar #1

Summary by AI BETAClose X

Buccaneer Energy PLC announced the selection of a drilling rig for the Allar 1 well (WI: 32.5%) in the Fouke area of the Pine Mills Field, with drilling tentatively planned to commence in the last week of October, dependent on drilling pad construction. The well is anticipated to take up to 2 weeks to drill and evaluate. If successful, Allar 1 is expected to produce at a field allowable rate of 124 bopd gross, similar to the initial rates of Fouke 1 and 2. The company intends to use associated gas volumes produced from Allar 1, along with Fouke 1 and 2, for a potential Bitcoin Mining facility.

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