By Jenny Neyman
In the Cosmopolitan Unit off Anchor Point, it appears that the sixth time’s the charm. BlueCrest Energy is full-speed ahead with an ambitious development plan on its enticing prospects at the site.
Larry Burgess, health, safety and environmental manager for the relatively new independent on the Cook Inlet oil and gas scene, said at a Kenai Chamber of Commerce presentation Wednesday that first oil is expected by second quarter of next year.
“Probably sometimes in April of next year, which is very aggressive since there are no buildings on the site or anything right now other than some gravel and some piles that we’re driving right now,” Burgess said.
BlueCrest is the sixth producer to attempt to make good on the Cosmo Unit’s promise, following Penzoil, which discovered the field in the 1960s, ARCO Alaska, which became Phillips, and then ConocoPhillips, Pioneer Natural Resources Alaska and Apache Corporation. BlueCrest and a partner acquired two leases from Pioneer, and BlueCrest picked up three more from Apache in 2013.
And that partner?
“Now, I’m going to mention the partner, but I don’t want anybody to throw anything at me. That partner was Buccaneer,” he said.
Following its financial troubles, Buccaneer sold its 25 percent share in the project, making BlueCrest the 100 percent owner. But before its financial implosion and withdrawal from Cook Inlet, Buccaneer drilled a delineation well at the Cosmo Unit that proved quite promising.
“That single well that they drilled through the heart of the formation discovered several different pay zones of which was not known about before,” Burgess said.