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Buccaneer Energy Limited, through its subsidiaries, explores and produces oil and natural gas in North America. The company primarily holds a 100% working interest Kenai Loop project that covers an area of 9,308 acres; a 100% working interest in West Eagle project, which covers an area of 52,044 acres; and a 100% working interest in the West Nicolai project that covers an area of 5,653 acres, which are located in the Cook Inlet basin, Alaska. Its principal properties also include a 100% working interest in the Southern Cross Unit project that covers an area of 6,932 acres; a 98.2% working interest in North West Cook Inlet project, which covers an area of 8,568 acres; and a 25% working interest in Cosmopolitan project that covers an area of 3,144 acres in Cook Inlet basin, Alaska. The company also holds interests in properties located in the Gulf of Mexico, Texas, and Louisiana. It has proven and probable reserves of 69.9 million barrels of oil equivalent. Buccaneer Energy Limited was founded in 2006 and is based in Sydney, Australia. On May 31, 2014, Buccaneer Energy Limited filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas.
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