Buru Energy says commercialisation of its Rafael gas-condensate discovery in Western Australia's Canning Basin will service the Kimberley's power needs at reduced capital expenditure through phased development. It says the development is viable for all contingent resource volumes as it moves ahead with de-risking subsurface uncertainties and firming up volumetric estimates, with an imminent 3D seismic survey to be followed by appraisal well drilling next year.
Buru Energy will explore commercialising its Rafael gas and condensate discovery in the Canning Basin by 2027 through a phased development strategy announced today.
The natural hydrogen exploration program run by Buru Energy 's 100 per cent-owned hydrogen and helium business, 2H Resources, has been substantially boosted by a new research agreement with the CSIRO. Management says the resulting study will focus on developing autonomous monitoring sensors to detect real-time surface occurrences of natural hydrogen in the same way mineral explorers use geochemical sampling.
Buru Energy has commissioned 200 square kilometres of three-dimensional seismic data over its 100 per cent-owned Rafael gas-condensate discovery in Western Australia's Kimberley region, as the company takes aim at an appraisal drilling campaign. The survey will assist the company in de-risking reservoir factors in a bid to progress its commercial case for its potentially large-scale discovery.
Buru Energy and ROC Oil will review operations at their Ungani oilfield in WA's Kimberley after consultation with Main Roads WA over heavy vehicle traffic access impeded by weather damage.
Perth-based oil and gas explorer Buru Energy has taken a significant step in progressing its 2021 Rafael gas discovery towards production after being granted State Government approval for its hydrocarbon Declaration of Location application. It marks a significant milestone for the project, signposting the company's commitment to developing its Rafael resource and providing a clean-energy solution for Western Australia's Kimberley region.
Oil and gas player Buru Energy has restarted production from the Ungani oilfield after its operations were impacted by ex-tropical cyclone Ellie in January.
Buru Energy has been buoyed by the return to operations at its Ungani oilfield, which was closed last summer as a result of the widespread devastation wreaked by Tropical Cyclone Ellie. Turning the oil tap back on means the company's first revenue of the year from its sole producing asset will soon roll into its coffers, with its first oil shipment slotted for Q3.
Buru Energy is pressing the pedal to the metal on its Rafael gas discovery in the Kimberley following a tick of approval on introducing a floating liquified natural gas (FLNG) facility into the processing chain. But Buru believes the value of its prefeasibility study extends wider than just a nod to the FLNG, claiming an innovative partnership could bring Rafael to reality.
Buru Energy is forging ahead in its bid to unlock the massive potential of its Rafael 1 well, east of Broome in WA's Canning Basin, by taking another important step on its pathway to production. Buru has lodged a declaration of location application with the State Government – a move described as a key step towards the commercialisation and monetisation of its gas and condensate resource.
Origin Energy has agreed to assign its interests in joint venture exploration permits in WA's Canning Basin, including the massive Rafael gas and condensate discovery to Buru Energy for no upfront payment. Origin will also pay Buru up to $4 million to fund a 3D seismic survey for its gas and condensate discovery Rafael 1.
Perth-based Buru Energy reeled in $3.7 million over the December period after exporting about 73,000 barrels of crude oil from the company's Ungani oilfield near Broome in WA. The figure represents a 50 per cent slice of the producer's operating interest in the conventional field with the balance filling the coffers of project partner Roc Oil Company.
Buru Energy's wholly owned, natural hydrogen-focussed subsidiary 2H Resources could soon evaluate a roughly 30,000 square kilometre ground position in South Australia after an independent assessment by RISC Advisory deemed the zone prospective for a best estimate resource of 343 million kilograms of hydrogen. The company says the site is geologically on trend with historical natural hydrogen discoveries within Adelaide's Geosyncline.
Perth-based Buru Energy has received a shot in the arm with the granting of two additional exploration permits regarded as highly prospective for petroleum in WA's onshore Carnarvon Basin. The permits will be licensed to a joint venture of Buru and a Mineral Resources' subsidiary, EnRes and lie south of the Pilbara coastal town of Onslow.
JV partners Buru Energy and Mineral Resources' subsidiary Energy Resources have become the largest acreage holders in the onshore Carnarvon Basin and Merlinleigh Sub-basin.
Our weekly appointments wrap includes Thomas Nador, Eric Streitberg, Danicia Quinlan, Shaun McRobert, Samuel McSkimming, Derry Simpson, Daniel Smith and Michael Kerman.
Our board moves wrap includes Krista Bates, Lee Goddard, Eric Streitberg, Kelly Moore, Michelle Kennedy, Catherine Anderson, Scott Mathewson, Alan Rule, Michael Fry, Susan Park, and Evan Hayes.
Buru Energy executive chairman Eric Streitberg has started a non-executive role in the oil and gas company, with recently appointed chief executive Thomas Nador taking over some of his duties.
Buru Energy is looking to end the year on a high following a flurry of activity across its WA-based oil and gas portfolio over the past few months including a successful November crude oil lift of 73,000 barrels which added $3.8 million to its bottom line. The deal marks the company's third and final delivery for the year for a total exported volume of roughly 220,000 barrels.
Buru Energy has stepped up its commercialisation efforts associated to its Rafael gas development in WA's Canning Basin by signing an agreement with Transborders Energy to conduct a pre-feasibility study for an LNG plant solution. The company says the Kimberley-based facility could promote a swifter, simpler and more capital efficient mechanism to liquify and export its resources.
ASX-listed producer Buru Energy has chalked up a quarter to remember, tabling its highest revenues in recent memory after banking $5.7 million from its onshore operations in WA's Canning and Carnarvon basins. The company's strong cash and debt-free financial position was bolstered through the sale of about 76,000 barrels of oil and fits within its strategy of optimising fluid production whilst unlocking its gas resources.
On the spot x-ray fluorescence analysis on a third drill core pulled from Buru Energy and Sipa Resources' jointly held Barbwire Terrace project south-east of Broome in WA has unveiled broad intervals of disseminated base metal sulphides. The high-grade mineralisation ran up to 23.9 per cent zinc- lead and was joined by a suite of anomalous hits running north of one per cent.
Our weekly appointments wrap includes Elizabeth Gaines, Paul Fitzpatrick, Jenn Morris, Virginia Miltrup, Drew Tomkins, Giacinta Parish, Mark Reed, Greg Jason, Paul Bird, and Luca Pietropiccolo.
Buru Energy CEO Thomas Nador says Origin Energy's decision to quit upstream exploration provides clarity for Buru on its joint venture with the company – the Rafael gas discovery in WA. “We can now concentrate on getting on with it, to work closely with a possible new partner to develop and commercialise this quality project and to deliver the value we know is there,” he said.
Origin Energy is expected to divest its 50 per cent stake in an oil and gas exploration venture with Buru Energy as the gas and electricity major turns its focus to “cleaner” projects.
Diamond drilling at Buru Energy and Sipa Resources' jointly held Barbwire Terrace project south-east of Broome in WA has turned up a smorgasbord of high-grade base metal mineralisation. The joint venture says portable XRF readings on samples from one of the two recently plunged holes delivered grades as high as 19.8 per cent lead plus zinc from 413.5 metres.
Handheld XRF readings from Buru Energy and JV partner Sipa Resources' first diamond drill hole at the duo's Barbwire Terrace project has turned up sniffs of lead-zinc near Broome in WA. The partnership deemed the program's first diamond hole a “technical success” after it intersected a geological package consistent with significant lead-zinc deposits in the area.
Buru Energy and Sipa Resources are continuing their foray into base metals, kicking off diamond drilling at the joint venture's Barbwire Terrace project south-east of Broome in Western Australia. The 50/50 split operation plans to sink up to four holes at nominal depths of up to 500m as they look to test targets along the south-western margin of the Fitzroy Trough.
Helped by rising oil prices, Buru Energy has tabled its record price for an oil shipment yet, bringing in about $5.7 million from its 50 per cent share in 76,000 barrels of crude from its joint venture Ungani oilfield near Broome in WA. The shipment by a tanker through Wyndham port raked in $1 million above the company's previous high in February.
Our board moves wrap includes Shane McDermott, Alex Forcke, Mike Brook, Richard Clayton, Hansjoerg Plaggemars, Ian Murray, Colin Gilligan, Robert Igara, Sally Martin, Robert Edwards, Derek La Ferla, and Richard Holmes.
Buru Energy is set for a bumper payday from the latest lifting from its flagship Ungani oilfield in WA's Kimberley region. The company is anticipating a $5.5 million cheque from its 50 per cent share of the 75,000 barrels shipped out of the Wyndham port this month. The latest payment is likely to be more than $1m higher than its previous record in February and comes off the back of a very strong Brent oil price that is today sitting at around US$116 a barrel.
Buru Energy and Chris Ellison's Energy Resources have agreed to restructure their interests in the area known as Permit L20-1 in the Carnarvon Basin through a farmout by Buru to Energy Resources. Buru will assign an additional 25 per cent interest and operatorship of the area in the onshore Carnarvon Basin to EnRes. The resulting permit interests will be Buru 25 per cent and EnRes 75 per cent.
The succession baton is being readied at Buru Energy who has appointed Beach Energy executive Thomas Nador as CEO. Founder and Executive Chairman Eric Streitberg flagged an orderly transition to the role of Non-Executive Chair. Streitberg says he is looking to focus on overseeing the monetisation of the company's expansion opportunities.
Canning Basin pioneer Buru Energy has been vindicated in its dogged drive to build a robust energy company in the Canning Basin after an independent report described its Rafael conventional wet gas discovery as a resource tipping over the magic one trillion cubic feet of gas mark, along with a possible additional 20 million barrels of condensate.
A subsidiary of Buru Energy has been awarded $7 million in Federal Government grants for a feasibility study into potential greenhouse gas sequestration into geological reservoirs at the onshore Carnarvon Basin. The $7m needs to be matched by Buru's wholly-owned Geovault subsidiary and is part of the Government's plan to develop hydrogen and GHG storage hubs in Western Australia.
