Buccaneer gets land-use permit


The Alaska Department of Natural Resources has granted a land-use permit to Buccaneer Energy for the Endeavour-Spirit of Independence jack-up rig to move to the Cosmopolitan project site offshore of Anchor Point and put its legs down onto the sea floor. The land-use permit is one of the permits needed for Buccaneer to start drilling for oil and gas at the site. Once Buccaneer gets U.S. Coast Guard certification for the rig, the Endeavour could be moved to the Cosmo site while it awaits approval of an oil-spill contingency plan, or C-plan. Review of Buccaneer’s C-plan application had been suspended last week while the Alaska Division of Oil and Gas gathered information to send a letter asking Buccaneer to address issues DOG had raised.

Buccaneer applied for the land-use permit in early October and the public comment period ended Nov. 30. Buccaneer has not announced when it plans to move the Endeavour from the Deep Water Dock in Homer, where it has been moored since late August.

Buccaneer Energy also announced in a press release last week it had raised $20.2 million in financing, with $9.9 million coming from the issuance of 198 million shares in the company and $10.3 milllion from an unsecured loan.

Buccaneer said it would use the new financing to support its offshore and onshore Cook Inlet exploration program and also to pay contributions to Kenai Offshore Ventures for modifications and upgrades to the Endeavour. Some financing also would provide general working capital for the company.

 

More in News

A diagram presented by Teresa Jacobson Gregory illustrates the proposed extension of the Beachcomber LLC gravel pit and the impact it may have on the surrounding state recreation area. The red markers indicate the current gravel mining area, and the orange represents the area the extension may allow for mining if approved. (Image courtesy of Teresa Jacobson Gregory)
KPB Assembly to consider gravel-pit ordinance revisions

Proposed gravel pit ordinance follows Superior Court ruling that planning commission can deny permits.

The Kenai Peninsula Borough School District Board of Education meets on Monday, Dec. 6, 2021 in Soldotna, Alaska. (Ashlyn O’Hara/Peninsula Clarion)
School board works to highlight students’ voices

Within the first hour of the meeting students would have up to five minutes each to address the board about any issue

Furniture awaits use in a bedroom at a cold weather shelter set to open next month on Monday, Nov. 22, 2021 in Nikiski, Alaska. (Ashlyn O’Hara/Peninsula Clarion)
Half of beds at Nikiski shelter are occupied

The shelter opened at the end of December 2021

A group of community members gather together on Thursday, Jan. 6 at WKFL Park to protest the insurrection at the U.S. Capitol on the one-year anniversary of the attack. (Photo by Sarah Knapp/Homer News)
South Peninsula residents turn out to ‘defend democracy’

Members of the Homer community and the Unitarian Universalists of Homer gathered… Continue reading

This image available under the Creative Commons license shows the outline of the state of Alaska filled with the pattern of the state flag. The state on Thursday reported a modest population growth between April 2020 and July 2021. It's the first time since 2016 the state has reported a population increase. (
State reports small population growth

Net migration still negative, but not as negative.

COVID-19. (Image courtesy CDC)
Health officials: Some monoclonal treatments widely ineffective against omicron

The new guidance comes from the Centers for Disease Control and Prevention

State Sen. Peter Micciche fields questions from constituents during a joint chamber luncheon on Wednesday, Jan. 5, 2022 at the Kenai Chamber of Commerce and Visitor Center in Kenai, Alaska. (Ashlyn O’Hara/Peninsula Clarion)
State Senate president lays out vision for upcoming session

Micciche seeks path forward on budget, looks to pass legislation on fishing permits, alcohol regulations

Snow covers the sign on Thursday, Dec. 9, 2021, at the South Peninsula Hospital Bartlett Street COVID-19 testing and vaccination clinic in Homer, Alaska. (Photo by Michael Armstrong/Homer News)
Local COVID-19 alert rate quadruples

State alert level per 100,000 people now is above 1,100.

Most Read