Buru Energy Limited will commence a major drilling program in the Canning Basin in Western Australia in June. The program includes a three well drilling program and an extensive 2D seismic program of some 1,100 kilometres of data acquisition.
The two well exploration drilling program is on conventional oil prospects (Rafael and Kurrajong), targeting very significant prospective resources as set out in the Buru Energy ASX release of 22 March 2021. The drilling program will also include a development well on the Ungani Oilfield (Ungani 8) which is planned to increase production rates and recover additional oil volumes.
Buru has contracted the Ensign Rig 963, a sister rig to Ensign 970 that is currently operating at West Erregulla in the Perth Basin. The Ensign 963 rig most recently drilled in the Beetaloo Basin for Origin Energy, Buru’s Joint Venture partner for the Canning Basin exploration program.
The company further advised that an LOI has been agreed with Ensign including a deposit for initial rig mobilisation, and that the formal rig contract is being finalised.
The spud date of the first well, Kurrajong 1, is on track for early to mid-June with site construction now underway.
Buru’s Executive Chairman, Eric Streitberg, said the company is pleased with the way the program is coming together in what will be a very big year for Buru in the Canning.
“We are drilling two of the largest onshore conventional oil prospects in Australia and success will be transformational for Buru, for the Kimberley, and for Western Australia.”
“Ensign 963 is a very capable rig and Ensign Energy is a very experienced and capable rig operator. Our drilling team has brought an outstanding level of professionalism to the program and we have received great support from the service companies,” Mr Streitberg said.
“It is a multi-faceted process to get ready to spud the first well, and we are on track and looking forward to starting work in the field and drilling some world-class oil prospects.”