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.
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 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.