Archer says it terminated ties to Buccaneer on Homer jack-up rig

AnchorageDecember 19, 2012 

The Buccaneer jack-up rig Endeavour-Spirit of Independence tied up at the Deep Water Dock on the end of the Homer Spit.

JIM LAVRAKAS — For the Anchorage Daily News

Earlier this month, Buccaneer Energy announced it had fired the company charged with operating the Endeavour-Spirit of Independence jack-up rig, which has sat idle for months in Homer. The Peninsula Clarion reported Buccaneer had severed ties with Archer Drilling  "after hearing the company was not paying local subcontractors for work on the rig and for 'non-performance."

Another shoe dropped Thursday, with the Homer Tribune reporting assertions by Archer that it was the one that severed ties with Buccaneer. Archer, the News reports, has filed a lawsuit against Buccaneer, claiming more than $6 million in unpaid invoices are owed by the company.

“We announced we were terminating the contract on Thursday (Dec. 13) and Buccaneer/KOV came out with their statement on Friday,” an Archer official, David Walker, told the Homer News. “They responded by claiming they fired us. We feel that statement was done in retaliation and to save public embarrassment.”

Read the whole story here.

Buccaneer's plans for oil and gas drilling in Cook Inlet have had a shaky start, as the ADN reported in late November. Buccaneer's partner is the state-owned Alaska Industrial Export Authority, which has invested nearly $24 million in the venture that owns the rig. (More: State money lures Buccaneer and its jack-up rig to Cook Inlet)







Read more here:

Anchorage Daily News is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service