Buccaneer Energy Limited has increased the production rate at the Kenai Loop #1 well to 6 million cubic feet per day (MMcf/d). To achieve a 6 MMcf/d production rate the choke has been increased to 9/64".

Additional production rate increases will be considered on completion of drilling and testing of the Kenai Loop #4 well.

The Kenai Loop #1 well commenced production on Jan. 14, 2012 and has been on continuous production since late February 2012 at 5.0 MMcf/d on a 5/64" choke. During that time the production rate has been steady with no rate decline and the well performance has to date exceeded expectations.

Tags: Buccaneer Energy Ltd.