logo-loader
viewBuru Energy Ltd

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 Ltd - Buru Energy makes record lifting of 78,000 barrels from Ungani Oilfield JV
The lifting was the largest to date by the Ungani JV from the port of Wyndham

Buru Energy Ltd (ASX:BRU) confirms that the latest lifting of around 78,000 barrels of crude from the Ungani Oilfield JV is the largest to date from the project in the Canning Basin onshore Western Australia.

The lifting was by Petro-Diamond Singapore Pte Ltd from CGL storage Tank 10 at Wyndham port on January 9 and 10, 2020.

The price received is the realised Brent linked oil price less the buyer’s fixed marine transport discount

Buru’s 50% revenue share from the lifting was previously invoiced at around $3.5 million subject to an adjustment related to the average January price.

The lifting was several days later than originally planned due to delays incurred by the ship at its previous port.

Further steps

The Ungani access road was closed from January 6 to 11, due to minor flooding from the passage of Cyclone Blake but there has been no material damage.

Field production also resumed on January 12.

Buru will provide an update on field productions once ongoing well interventions have been completed and scheduling for the Ungani-6 work program has been finalised and confirmed with equipment and service providers.

Quick facts: Buru Energy Ltd

Price: 0.165 AUD

ASX:BRU
Market: ASX
Market Cap: $71.29 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Buru Energy Ltd named herein, including the promotion by the Company of Buru Energy Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Buru Energy preparing to mobilise to drill the Adoxa 1 exploration well

Buru Energy Ltd (ASX:BRU) executive chairman Eric Streitberg talks to Proactive Investors about overcoming challenges with a drilling rig and some of the geology on the Ungani Oilfield onshore WA, to move forward positively.   Streitberg says while they had some issues, the joint...

on 11/7/19

2 min read