Buccaneer Strikes Back With $30M Claim Over Failed Oil JV

Law360, Houston (March 15, 2013, 5:06 PM EDT) -- Buccaneer Energy Ltd. on Tuesday filed a counterclaim against Archer Drilling LLC in response to the drilling company's suit in Texas court over a failed joint venture to refurbish an offshore oil rig, alleging that Archer's refusal to finish the project has cost it $30 million.

In its counterclaim against Archer, Buccaneer says that the drilling company performed shoddy, incomplete work before ditching the project and absconding with documents needed to secure operating permits, delaying plans to deploy the rig off the coast of Alaska at...
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