Buccaneer Energy Plc (AIM:BUCE) has outlined plans to progress a secondary recovery scheme at the Fouke area of the Pine Mills field in Texas.
The company intends to implement a waterflood programme following technical evaluation of the recently drilled Allar #1 well and newly acquired offset acreage. The scheme will use the Turner #1 and Daniel #1 wells as dedicated injection wells. Buccaneer said these wells are located at the downdip limits of the productive reservoir and are considered optimal positions for water injection.
Primary recovery in the Fouke area totals 333,851 barrels of oil as of September 2025, with additional waterflood recoverable volumes estimated between 667,000 and 1,002,000 barrels.
Paul Welch, chief executive officer of Buccaneer Energy, said: “The decision to initiate a waterflood in the Fouke area marks a key step forward in maximising long-term value from our Pine Mills assets.
"Waterflooding has a proven track record in these reservoirs, and we believe the Turner #1 and Daniel #1 wells provide ideal injection points to support a highly effective recovery scheme.”
Before water injection can begin, the company must form a waterflood unit with leaseholders and royalty owners and construct the required facilities, a process expected to take up to six months.