The addition of MEX's inventory of 15 offshore developmental and exploratory prospects in the Gulf of Mexico "gives Buccaneer a substantial backlog of high-quality opportunities that can enhance our ability to leverage our resource network and deploy capital," said Ken Hooper, COO of Buccaneer Resources.
Commenting on the benefits to his company, Clint Wainwright, CEO of Millennium, said, "This alignment with Buccaneer will provide us with a consistent developmental capital stream and the resources to build significant reserves by exploiting these opportunities."
MEX is equally owned by Baron Petroleum (Houston) and Streamline Exploration (Durango, Colorado) and is a generator of high-quality prospects. Connecting scarce service-industry resources with capital and quality prospects, Buccaneer Resources has stepped into a resource-constrained world to offer services, equipment and capital to both small and large independents. Buccaneer Resources has negotiated special rates with a group of service, hardware and drilling rig providers and can offer client companies access to their network of equipment and services. The network is designed to offer a wide array of resources needed by nearly any segment of the upstream energy industry to bring a development on line.
Most Popular Articles