Buccaneer Energy Plc has flagged an early production uplift at its Pine Mills field in East Texas after completing an Organic Oil Recovery (OOR) pilot that it says doubled output in the treated area.
The AIM-quoted company said the pilot was carried out in the northern part of Pine Mills, in the Battery 3 area, where it recently returned a water injector to service as part of its two-phase workover programme. Treatment was applied in mid-January to the injection well and two of the four producing wells in the area.
Before treatment, production from the pilot area averaged about 15 barrels of oil per day between January 1 and 15. In the post-treatment period (January 29 to February 15), Buccaneer said average production rose to around 30 bopd, a 100% increase, and has continued at those levels. One treated producing well also saw water cut drop from 80% to 0% following the treatment.
"We are very encouraged by the success of the Pilot Project ... The initial results significantly exceeded our expectations," said chief executive Paul Welch.
"The process is well-suited to mature waterfloods, like Pine Mills, where the "easier oil" has been produced and a large amount of residual oil remains in place. Efficiently dislodging this residual oil has a significant impact on production rates."
Buccaneer described OOR as a nutrient injection process designed to stimulate naturally occurring microorganisms in the reservoir, reducing interfacial tension and helping residual oil move within mature waterflood systems.
The company said the pilot cost was comparable to a routine workover, and it is now planning a March programme to treat the remaining two producing wells in Battery 3, while working with its service provider to expand the approach across Pine Mills during the second quarter of 2026.
Welch added: "Pine Mills carries an NPV10 of approximately $9.6 million at $60 oil pricing. Our current market capitalisation is approximately £1.3 million.
"Our focus is on closing that gap through incremental production growth, improved recovery and disciplined execution. We see this program as a practical step toward converting underlying reserve value into cash flow and look forward to updating shareholders as we expand the initiative across the field."