Buccaneer acquires Carlisle-1 well in East Texas

Buccaneer Energy completed the acquisition of a 100% working interest in the Carlisle-1 well in the Fouke area of the Pine Mills field in East Texas. The transaction closed on 13 March 2026 with an effective date of 1 January 2026.

Carlisle-1 lies adjacent to Buccaneer’s existing Fouke 1 and Fouke 2 wells and produces from the same reservoir horizons within the Pine Mills field. The acquisition increases its working interest in the proposed Fouke waterflood unit from about 33% to more than 50%.

According to a third-party reserve report prepared to SPE PRMS standards, the well contains approximately 51,000 bbl of proved developed producing reserves. The asset is also expected to benefit from future enhanced recovery through a planned waterflood and the company’s Organic Oil Recovery (OOR) program.