Buccaneer Energy Plc (LSE:BUCE) has outlined plans to introduce a secondary recovery waterflood scheme in the Fouke area of the Pine Mills field in Texas, aimed at increasing oil recovery and improving field performance.
Under the proposal, the Turner #1 and Daniel #1 wells will be converted into injection wells to support the waterflood operation. Management believes the scheme could materially enhance recovery rates, with the potential to increase ultimately recoverable oil volumes by as much as three times compared with primary production alone.
The company expects to establish a formal waterflood unit and build the required surface facilities within approximately six months. During this period, Turner #1 is scheduled to return to production, providing additional near-term output while preparations for the secondary recovery phase are completed.
More about Nostra Terra Oil and Gas
Buccaneer Energy Plc is an international oil and gas exploration and production company with development and producing assets in Texas, United States. The group’s strategy is focused on maximising value from existing fields through the application of enhanced and innovative recovery techniques, particularly across the Pine Mills field.
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