Australian oil and gas company Buccaneer Energy plans to implement a waterflood scheme in the Fouke area of the Pine Mills field in Texas, using the Turner #1 and Daniel #1 wells for injection. The company aims to increase reservoir pressure to stabilize and improve oil recovery rates.

The decision follows a technical review of the Allar #1 well and the acquisition of adjacent acreage. Buccaneer estimates the waterflood could yield an additional 667,000–1,002,000 barrels of recoverable oil. The company has a history of using waterflooding in the region for over five decades.

Buccaneer aims to boost oil production at the Pine Mills field by increasing recovery rates with waterflood operations. The company plans to drill the Fouke #4 well and sidetrack the Allar #1 well after the waterflood system is commissioned. The process of forming a waterflood unit and constructing facilities is expected to take up to six months.

CEO Paul Welch stated that the waterflood scheme marks a key step in maximizing long-term value from the Pine Mills assets. The company is confident that the programme will increase recoverable reserves and enhance production. Updates on regulatory and technical workstreams will be provided as progress continues.

Read more at Yahoo Finance: Buccaneer to boost oil production at Pine Mills field using waterflood scheme