Buccaneer Energy CEO Paul Welch joined Steve Darling from Proactive to announce that the company has successfully completed a capital raise backed by institutional investors, providing the funding required to advance its drilling plans in the Fouke area of East Texas. The financing ensures Buccaneer is positioned to participate in its share of two new development wells, with drilling scheduled for September and December 2025. The company holds a 32.5% working interest in the program. Welch explained that the Fouke area, situated in the southwestern section of the Pine Mills field, was first discovered in 2021 under original reservoir conditions. Initial wells drilled in the area demonstrated strong performance, producing water-free oil at the field allowable rate of 124 barrels per day. Based on reservoir data and early production history, Buccaneer anticipates that the upcoming two development wells will deliver similar production rates, contributing meaningfully to near-term cash flow. In addition to the development drilling, Buccaneer is evaluating strategies to monetize associated gas production, an increasingly important factor in maximizing asset value. One option under review is the utilization of produced gas to power Bitcoin mining operations, a trend that has become more common in the onshore Texas basins since 2022. Welch emphasized that while initial discussions have been held with potential Bitcoin mining partners, the strategy remains at an exploratory stage. A successful gas monetization program would require several conditions to be met, including positive drilling outcomes from the two new wells, identification of suitable operational sites, and execution of an agreement with a Bitcoin mining operator on favorable terms. Buccaneer underscored that while the opportunity is promising, there is no guarantee of a partnership or commercial return at this stage. Welch concluded by noting that the latest capital raise not only underpins Buccaneer’s immediate development objectives in the Fouke area but also provides flexibility to pursue innovative monetization strategies aimed at enhancing long-term shareholder value. #proactiveinvestros #buccaneerenergy #aim #buce #oil #gas #foukeproject #OilAndGas #TexasOil #EnergyInvestment #PineMillsField #FoukeField #BitcoinMining #OilDrilling #EnergyStocks #OilExploration #AssociatedGas #CashFlow #VerticalDrilling #JuniorOilandGas