Buccaneer Energy PLC (AIM: BUCE) has confirmed the spudding of the Allar #1 well in the Fouke area of the Pine Mills Field on 3 November 2025.
The company holds a 32.5% working interest in the well and expects the drilling and evaluation phase to take up to two weeks.
Buccaneer said it will update the market on results in due course, noting that the programme forms part of its strategy to increase production and strengthen its U.S. onshore portfolio.
Paul Welch, Buccaneer Energy’s Chief Executive Officer, said:
“Since successfully securing the rig for Allar #1 earlier this month, we have quickly moved to spud the well as we look to increase production and materially drive cash flow from our existing acreage in the Pine Mills Field.”
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Buccaneer Energy plc Paul Welch, CEO |
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