Buru Energy's Ungani Oilfield well 8H on track to be spudded later this week
Rafael 1 flow test due to commence in mid-January.
Company
Buru Energy Ltd
ASX:BRU
Buru Energy Ltd is an ASX listed diversified energy company focused on exploration and production of hydrocarbon and non-hydrocarbon energy resources in Australia. The company is headquartered in Perth, Western Australia with a regional operational office in Broome. It pursues the exploration, development and commercialisation of hydrocarbon resources in the onshore Canning Basin in north-western Australia.
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Buru Energy advances Rafael 1 well in Canning Basin toward production, Christmas tree installed
Buru Energy is almost ready to begin reservoir parameter testing at Rafael 1 well in the Canning Basin, following the completion of the well's casing string and installation of the wellhead Christmas tree. The company also expects to comple
Buru Energy's Rafael 1 gas condensate discovery being prepared for production test
Buru Energy executive chairman Eric Streitberg said: “Subject to further analysis of data to hand, and to the results of the impending production test, the Rafael discovery has the potential to be a very material wet gas accumulation in con
Buru Energy’s Canning Basin Rafael 1 exploration well reaches final total depth of 4,141 metres with additional good to excellent gas shows over another 120 metres
Further good to excellent gas shows have been encountered in a discrete 120 metre gross thickness interval of Ungani Dolomite equivalent section from 3,857 metres to 3,977 metres measured depth.
Explainer: Why hydrogen is set to play a major role in the future of energy
“You now have +80% of the world’s GDP countries with a hydrogen strategy. This is backed up by +$70 billion of committed public funding. This has been followed by large heavy emitters nominating hydrogen in their strategy … so it has moved
Buru Energy drilling ahead at Rafael after setting casing
Wireline logs indicate the presence of vugular dolomite and zones where hydrocarbons are present, most likely wet gas, consistent with the gas measured at surface from the circulated influx.
Buru Energy encouraged by hydrocarbon indications at Rafael 1 well in Canning Basin
“The presence of wet gas to light oil mudgas shows is encouraging, but wireline logs will be required to determine the significance of the indications we have seen to date,” says chairman.
Buru Energy encounters early hydrocarbon shows above main reservoir target in Rafael 1 well
“The somewhat unexpected but very welcome presence of hydrocarbon shows in the sandstones above the expected main reservoir section indicates that there is an active petroleum system and valid trapping mechanism at the Rafael location,” say
Buru Energy subsidiary 2H Resources progresses natural hydrogen strategy
The wholly-owned subsidiary has recently been granted more than 29,000 square kilometres of permits in South Australia that are on geological trend with legacy natural hydrogen discoveries.
Buru Energy to receive circa A$3.7 million from latest lifting of Ungani crude
The lifting of approximately 74,000 barrels by the MT SCF Pechora was completed on Tuesday evening and coincides with strong Brent oil prices.
Buru Energy lifting from Ungani Oilfield coincides with very strong Brent oil prices
The lifting of crude from the Wyndham tank by the MT SCF Pechora is expected to be in excess of 70,000 barrels.
Buru Energy continues drilling at Rafael 1 Well in Canning Basin, WA
Buru is the largest acreage holder in the Canning Basin and is the operator of all of its exploration permits.
Buru Energy continues full steam ahead at Rafael 1 Well in WA’s Canning Basin
Operations are proceeding as planned with no incidents and no rig downtime with the well drilled ahead to section depth of 1,652 metres in 17½ inch (445 mm) hole.
Buru Energy spuds Rafael 1
Rafael 1, which was spudded on Sunday, is being drilled by Buru Energy in Exploration Permit EP 428 in the Canning Basin in northwest Western Australia.
Buru Energy prepares to drill Rafael 1 well in Canning Basin
“Rafael 1 is targeting a geologically distinct formation to Currajong 1 with significantly larger potential resources and we are very much looking forward to drilling that prospect,” says chairman.
Buru Energy completes Currajong 1 drilling with rig being moved to Rafael 1
Buru has released the rig from Currajong 1 following the successful completion and pending production test of that well.
Buru Energy advances activity over Currajong 1 exploration well
“The results so far at Currajong 1 are very encouraging, and we look forward to the production test to confirm the interpretation of the well results to date," says Chairman.
Buru Energy drills ahead at Currajong 1, completes Ungani oil lifting and sale
“The first part of the Currajong program has gone according to plan with the rig operating efficiently and the operation on schedule,” says executive chairman.
Buru Energy shares rise after spudding Currajong 1 exploration well in Canning Basin
Buru’s first well in its 2021 Canning Basin exploration program is targeting mean prospective resources of 28 million barrels.
Buru Energy gears up for Currajong Well 1 exploration drilling
The company is also planning extensive seismic surveys (around 1,100 kilometres) as part of its 2021 exploration program, with Terrex Pty Ltd expected to be mobilised to the Canning Basin in late June or early July.
Buru Energy completes SPP and is now fully funded for 2021 exploration program
The SPP received applications over $1 million - adding to the funds raised from the company’s recent successful $15 million share placement to institutional, professional and sophisticated investors.
Buru Energy gears up to begin Canning Basin exploration at the Currajong 1 Well
The company’s major drilling and seismic program in the Canning Basin consists of two exploration wells at Rafael and Currajong, together with a wide-ranging seismic program aimed at maturing prospects for drilling in future programs.
Buru Energy takes another step towards its major exploration program with Ensign Rig 963 being mobilised to drill site
"This program represents a new beginning for exploration in the Canning Basin with the potential for discovery of nationally significant quantities of oil if the drilling program is successful in a strong oil price environment,” says chairm
Buru Energy confirms 2021 Canning Basin exploration program drilling order and SPP extension
The exploration program is targeting a total of 97 million barrels of conventional oil (mean prospective resources) from the company’s two exploration wells Currajong and Rafael.
Buru Energy directors show confidence in oil & gas strategy with on-market purchases
Preparations for the spud of the Kurrajong 1 conventional oil exploration well are well advanced with the construction of the drilling pad nearing completion.
Buru Energy Canning Basin JV on track to begin major exploration drilling program in mid-June
Two exploration wells are planned by Buru and partner Origin Energy targeting total mean prospective resources of 97 million barrels of conventional oil, with the first well, Kurrajong 1, expected to spud in mid-June.
Buru Energy raising up to $20 million to advance Canning Basin joint ventures
Buru’s $15 million share placement attracted strong support from domestic and international investors, with bids significantly above the placement limit.
Buru Energy lifts Ungani Oilfield production and prepares for upcoming drilling program
The lift in production is due to an increase in rate from the Ungani 5 well as well as the stabilisation of rates from Ungani 7.
Buru Energy secures rig contract for major Canning Basin drilling campaign
The drilling rig for the three-well 2021 Canning Basin program has been confirmed as Ensign Rig 963, a sister rig to Ensign 970 that is operating at West Erregulla in the Perth Basin.
Buru Energy completes latest lifting of 70,000 barrels of Ungani crude oil
Under the marketing agreement with BP Singapore, the company’s 50% revenue share from the lifting is estimated at around A$2.5 million.
Buru Energy expands footprint in northern Western Australia
The company and joint venture partner Mineral Resources have been awarded block L20-1 which complements Buru’s existing assets and is strategically located close to existing gas and port infrastructure.
Buru Energy gears up for major Canning Basin exploration drilling and seismic program
The exploration drilling campaign is targeting a total 97 million barrels of conventional oil and includes exploration wells at Kurrajong and Rafael prospects in addition to a development well on the Ungani Oilfield.
Buru Energy bolsters growth strategy with new board appointments
The three new directors bring very strong skill sets to the board, including high-level technical skills, as well as deep experience in finance, project development, renewable energy and the transition to an integrated energy future.
Buru Energy surges as Canning Basin portfolio farm-out with Origin Energy Group kicks off basin-wide exploration program
The transaction “affirms Buru’s view that the Canning Basin is underexplored and is an attractive area for new field exploration, building on Buru’s existing oil and gas discoveries,” says chairman.
Buru Energy sells a further ~68,000 barrels (gross) of Ungani oil under its marketing agreement with BP Singapore
The company’s 50% revenue share from the lifting is currently estimated at around A$1.8 million, with the price to be finalised at the end of December.
Buru confirms potential additional oil pool in Ungani Far West Reeves Formation to increase future production
Production from the Ungani Oilfield in the September quarter totalled about 93,000 barrels (gross). Two liftings during the quarter totalled about 146,000 barrels (gross) with Buru’s 50% share of the sales proceeds estimated to be about A$3
Buru Energy ships 71,038 barrels of oil under new marketing agreement with BP Singapore
Buru’s 50% revenue share from the lifting is estimated at between A$1.6 million and A$1.7 million, with the price to be finalised at the end of October.
Buru Energy to ship first oil this month under new marketing agreement with BP Singapore
The Ungani Joint Venture is undertaking technical and commercial analysis of the feasibility of further development well drilling on the Ungani Oilfield during the 2021 drilling season.
Buru Energy forms innovative alliance to explore hydrocarbon and mineral potential in the Canning Basin
An agreement with Sipa Resources aims to use Buru’s petroleum industry technical capabilities and Sipa’s minerals exploration expertise to unlock value at the project on the Barbwire Terrace in the central Canning Basin.
Buru Energy gets $1.6 million from latest lifting of crude oil from Ungani Joint Venture
Buru is receiving healthy returns on its sales of high-quality crude from the Ungani Oilfield Joint Venture onshore Western Australia.
Buru Energy buoyed by healthier return on sales as oil prices increase
An improving crude market has resulted in Buru’s payment share for the recent lifting increasing by approximately US$200,000.
Buru Energy completes latest lifting of Ungani crude, farm-out process progressing
Current field production by the joint venture at Ungani continues to be steady with all wells on production at around 1,500 barrels of oil a day.
Buru Energy “in excellent shape to emerge strong and more efficient”, says chairman
“Buru is one of the few listed small Australian oil & gas companies that has solid cash reserves, an excellent asset base and no material exploration commitments.”
Buru Energy is weathering the storm
A strong balance sheet, continuing oil production and strong interest being shown in the farm-out of its Canning Basin exploration areas has the company on a firm footing.
Buru Energy continues Ungani Oilfield production ahead of May lifting, slashes corporate personnel costs 50%
Field operating costs are also being reduced and the current global crude market environment is being closely monitored.
Buru Energy makes record lifting of 78,000 barrels from Ungani Oilfield JV
The Ungani Oilfield is about 90 kilometres east of Broome and includes five production wells and associated production facilities.
Buru Energy plans next lifting of 70,000 barrels from Ungani Oilfield JV by year-end
The company expects a strong increase in field production once the Ungani 6ST1 well is completed and brought into production. Buru has also assumed 100% of its core permits in the Canning Basin and plans to introduce a new partner early nex
Buru Energy to assume 100% in three Canning Basin permits
The Canning Basin is one of the least explored onshore basins in Australia with producing conventional oil resources and large scale wet gas resources.
Buru Energy horizontal drilling program successful and cash balance boosted from latest lifting of Ungani crude
The operation of the underbalanced coil drilling system in the horizontal sections at Ungani 7H development well has exceeded expectations.
Buru Energy spuds wholly-owned Miani 1 oil exploration well in Western Australia
The Miani well is relatively shallow at 2,400 metres on a high-potential conventional oil prospect.
Buru Energy welcomes lifting of moratorium on fraccing in WA
The WA Government decision also clarifies that Buru’s Canning Basin permits lie mostly outside the Dampier Peninsula ‘frac free zone’.
Buru Energy aims to unlock new Canning Basin exploration play with Miani 1 well
Miani 1 is in the Lennard Shelf acreage which has good all-weather access and infrastructure, and a well-supported history of oil production.
Buru Energy identifies potential oil zone at Adoxa 1 on the back of a record recent oil lifting
A lifting of 75,413 barrels of oil (gross) will generate over A$3 million revenue for the company.
Buru Energy confirms significant oil shows from Adoxa 1 exploration well
The significance of these shows will need to be evaluated with wireline logs once the total depth of the well is reached.
Buru Energy spuds Adoxa 1 exploration well in Canning Basin
The well is targeting oil in conventional sandstones of the Reeves Formation.
Buru Energy completes lifting of 73,780 barrels produced at Ungani Oilfield
The company’s share of revenue from the May 23 lifting from Wyndham port amounts to A$3.52 million.
Buru Energy starts intensive campaign aiming to increase production and drill high potential exploration wells
The surface casing section of the Ungani 6H well has been drilled and cemented to a depth of 945 metres.
Buru Energy spuds Ungani 6 development well
The initial Ungani 6 drilling operations with the NGD 405 rig are expected to take some 20 days.
Buru Energy on fast-track to start new drilling program at Ungani Oilfield JV
The rig up, crew mobilisation and rig acceptance is on track for spud in the first week in May.
Buru Energy buoyed by review which indicates strong gas and liquids potential for Butler conventional sand prospect
Gross unrisked mean prospective resources of 3.14 TCF of recoverable gas have been independently estimated, with an associated 42 million barrels of condensate.
Buru Energy to restart drilling efforts in June quarter
Buru’s chairman Eric Streitberg will speak at an energy and minerals conference in Brisbane next Wednesday.
Buru Energy retains speculative buy rating from Taylor Collison
The 2019 drilling season is set to commence in May and success could deliver an upside significantly beyond the value of any oil discovered.
Buru Energy ships 70,000 barrels of oil in March lifting as production remains steady at Ungani
Three firm and up to 6 wells total under technical and corporate review and finalisation by the company.
Buru Energy on track to begin 2019 drilling program in Canning Basin
The specialised NGD Rig 405 is expected to be mobilised in early April with the Ungani 6 well spud targeted for May 1.
Buru Energy completes 70,000-barrel oil lifting from Ungani oilfield
Preparations for the 2019 conventional oil drilling program are underway with a scheduled start in mid-April or early-May after the rig contract was executed.
Buru Energy attracts speculative buy rating from broker Taylor Collison
The company is cashed up and carried through $20 million of exploration spend which puts it in a strong financing position.
Buru Energy expects next lifting of 60,000 barrels from Ungani Oilfield this month
The company forecasts that it will have more than $60 million in cash by the end of the year.
Buru Energy to benefit as WA government lifts fraccing moratorium
An independent scientific inquiry commissioned by the West Australian government has concluded that fraccing is low risk when conducted properly with appropriate regulation. This report mirrors the previous 13 reports conducted in Australia
Buru Energy spuds Ungani West 1 exploration well
The company’s executive chairman Eric Streitberg flagged Buru planned to bring the well into early production if it is a discovery.
Buru Energy oilfield production drill campaign underway
Buru expects to solidly drill the Ungani West 1 exploration well for 32 days before moving equipment back to Ungani 4ST1 well.
WA Petroleum Day highlights Perth LNG hub plan
Western Australia’s treasurer and its mines-and-petroleum agency head both talked about plans to turn the state’s capital into an LNG energy hub.
RIU GoodOilConference examines State’s Canning Basin
Buru is a cashed up oil producer in the Kimberley region which welcomes other players to the basin, including a company backed by Andrew Forrest.
RIU GoodOilConference Perth to open with financing perspective from Westpac’s Mark Beeley
The conference continues today, with highlights including a presentation from Santos on how becoming the lowest cost operator delivered growth to the company.
Buru Energy gets good flow rates from Ungani Far West, begins Ungani 4 sidetrack operations, Roc Oil farm-in completed
Ungani Far West 1 well has begun production and is producing at high daily fluid rates of 1,000 barrels at about 50% oil cut, rates which will add significantly to overall Ungani field production.
Buru Energy production at Ungani oilfield nears 1 million barrels, Trafigura lifts another 51,962 barrels
Buru is continuing to increase production at the Ungani oilfield in the Canning Basin to target levels.
Buru Energy set to reach one million barrels of cumulative production at Ungani oilfield
Current field production is about 1,400 barrels of oil per day with ongoing work to increase production to target levels.
Buru Energy moving steadily towards 1,800 barrels of oil per day at Ungani Oilfield
Buru is well funded with about $20 million in cash and $51 million to be received from Roc Oil under the terms of a May sale agreement.
Buru Energy to receive $84 million through sale and farm-in deal
The transformational transaction strengthens the balance sheet and funds a multi-year exploration program, setting Buru up for future success through internal funding.
Buru Energy to ramp up oil production from Ungani oilfield
The oil price has more than doubled since early 2016 to over US$70 per barrel.
Buru Energy has oil flowing again at Ungani project in Western Australia
Cash on hand should gain momentum as production increases towards the target rate of 3,000 bopd.
Buru Energy set to restart oil production following access road reopening
Restart of the Ungani 1 and Ungani 2 wells is expected later this week.
Buru Energy regains some access to Ungani Oil Field
The on-site storage tanks are full with an inventory of some 5,000 barrels of oil.
Buru Energy maps plan for oil production growth at Ungani
Buru's shares recently hit a 12-month high of $0.36.
Buru Energy on-track for production tests at Ungani 5 and completion of Ungani 4
The Ungani Oilfield is positioned in the Canning Basin.
Buru Energy reveals expanded oil potential in Ungani Field
Buru Energy shares have been climbing in recent months.
Buru Energy doubling oil handling capacity at Ungani Oilfield and close to completion on development wells
New storage tanks at the Canning Basin project will be commissioned shortly.
Buru Energy doubling oil handling capacity at Ungani Oilfield
New storage tanks at the Canning Basin project will be commissioned shortly.
Buru Energy maintains the drilling pace at Ungani
Production at Ungani recommenced in late October 2017.
Buru Energy continues oil production ramp up amid surging prices
Shares in the company are trading up 55% over the past six months to $0.29.
Buru Energy's shares trade higher as all going to plan at Ungani
The results of the logs are anticipated to be available on Friday.
Buru Energy’s forward program fully-funded following oversubscribed placement
Funds raised to be used for the multiphase development program at the Ungani Oilfield.
Buru Energy on-track to monetise first crude from Wyndham, secures drilling rig
Buru is currently raising funds to accelerate development.
Buru Energy nears first sale of oil from the new Wyndham tank
Buru is pleased with the positive response to its capital raising and new strategy
Buru Energy gets in-the-money raising underway for development of Ungani Oilfield
The offer is expected to close on 1st September 2017.
Buru Energy targets funding to accelerate Ungani development
Buru's immediate focus is the accelerated development of the Ungani Oifield in Western Australia.
Buru Energy Ltd restructures debt for flexibility
The company's cash balance at 30 June 2017 was $18.7 million.
Buru Energy delivers first oil from Ungani restart
The company aims to ramp up to 1,250 barrels per day in the coming weeks.
Buru Energy restarts production from Ungani Oilfield
Buru’s immediate focus is maximising cash flow from oil production.
Buru Energy transforms its cash flow and exploration portfolio
This transaction provides Buru and Mitsubishi the ability to achieve their objectives.
Buru Energy closing in on oil production restart
The company has a high equity interest of ~50% in all of its core permits.