Oil watch

About a year ago we told you a jack-up rig had begun exploratory drilling in Upper Cook Inlet.

It was the first such rig to work in inlet waters in a very long time.

Well, now it seems an Australian company, Buccaneer Energy, has brought in a second jack-up rig. It arrived on Friday at Homer.

Click here for a press release with photo.

One interesting note is that a state agency, the Alaska Industrial Development and Export Authority, is a big investor in this second drilling rig.