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.”
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 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.