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Bulls N' Bears 16 Aug 2024

Buru casts new leadership eyes across Canning Basin oil well

Hot on the heels of kicking off the oil well pad construction at the Rafael Shallow 1 project in Western Australia's Canning Basin earlier this week, Buru Energy has named David Maxwell as the company's new chairman. Maxwell will replace retiring chairman and founding shareholder Eric Streitberg, who is regarded as an industry stalwart after compiling a 50-year career.

Bulls N' Bears 13 Feb 2023

Origin sweetens Canning Basin exit for Buru

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.

Bulls N' Bears 30 Jun 2022

Buru set to cash in on surging oil price with Ungani payday

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.

Bulls N' Bears 24 May 2022

Buru and Energy Resources restructure deal

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.

Bulls N' Bears 13 May 2022

Beach Energy exec to lead Buru

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.

Bulls N' Bears 26 Apr 2022

Buru books major resource at Rafael gas discovery

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.

Bulls N' Bears 20 Apr 2022

Buru wins $7 million Federal greenhouse gas grant

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.

Bulls N' Bears 01 Mar 2022

Buru Energy achieves gas flow from Canning Basin

Buru Energy has achieved a maiden natural gas flow from a conventional reservoir in WA's Canning Basin. The Rafael 1 discovery produced a substantial gas flow with highly encouraging condensate co-production. Initial stabilised flows of 4 to 5 million cubic feet per day through a half inch choke included an estimated 20 to 30 barrels of condensate per million cubic feet of produced gas.

Bulls N' Bears 07 Feb 2022

Buru ships more oil as testing crew quarantines

Oil and gas producer Buru Energy is one step closer to another commercial gas field at its Rafael-1 discovery in the Canning Basin after the testing crew crossed WA's borders in advance of kicking off the highly anticipated well test. The test crew started 14 days quarantine in Perth on Saturday before heading to site for the 10-day testing program.

Bulls N' Bears 29 Dec 2021

Buru passes below 1000m at Ungani horizontal oil well

Buru Energy remains on track with its drilling program at the Ungani 8H horizontal development well designed to lift production levels at its cash-generating Canning Basin oil field in Western Australia. The company reported it has now passed the 1000 metre mark towards a target depth of 2560m with operations proceeding as planned and there were no adverse incidents to report.

Bulls N' Bears 20 Dec 2021

Buru spuds another Canning Basin Ungani oil well

Buru Energy continues to press hard in its hunt for Canning Basin oil having just spudded another well at the producing Ungani field in WA's Canning Basin. Surrounded by almost all the necessary infrastructure, Buru will be aiming to boost production and sales from Ungani 8H whilst the oil price remains relatively strong.

Bulls N' Bears 13 Dec 2021

Extra zones, horizontal well makes for busy Buru New Year

Buru shareholders will be looking for some post-Christmas cheer from the Canning Basin with follow up testing of a newly interpreted zone at its recently upgraded Rafael discovery about to happen. The company also has another development well about to kick off aimed at lifting production and cash flows from its cash generating Ungani oilfield.

Bulls N' Bears 23 Nov 2021

Buru up on news of Rafael 1 production testing

Market punters pushed Buru Energy's share price up 25 per cent in intraday trading following news that the company's Rafael 1 exploration well in the Canning Basin is set for production testing. Only last week Buru completed the drilling of Rafael and the company put a spring in its step after early indicators pointed to wet gas rich in LPG and condensate in the hole.

Bulls N' Bears 17 Nov 2021

Buru reaches end of Rafael 1 well drilling

Buru Energy has completed drilling at its Rafael 1 exploration well with early indications highlighting the company has found wet gas rich in LPG and condensate. The crucial wireline logging and flow testing will follow. Since its last report, Buru says it has continued to encounter good to excellent gas shows in the much-vaunted Ungani Dolomite equivalent section from 3,857-3,977 metres depth.

Bulls N' Bears 03 Nov 2021

Buru Energy punching towards Canning Basin oil reservoir

In the final stretch of a long race to reach a coveted cup, ASX-listed Buru Energy has encountered hydrocarbons above the targeted Ungani Dolomite at Rafael 1 in the oil-rich Canning Basin of northern Western Australia. With the well at 3,872m and a finish line of 4,000m the board and investors are keenly awaiting the news to come.

Bulls N' Bears 25 Oct 2021

Buru finds gas above target reservoir in the Canning Basin

Buru Energy has announced an unexpected gas show above its targeted reservoir section in the highly anticipated exploration well Rafael 1. According to the company, shows of natural gas and even hydrogen and helium in a thicker than expected Anderson Sandstone immediately above the crest of the targeted structure validate an active petroleum system and trapping mechanism at the Rafael location.

Bulls N' Bears 24 Aug 2021

Buru spuds second well in the hunt for more Canning oil riches

ASX-listed Buru Energy has spudded a second highly anticipated well in its exploration program in the Canning Basin, Western Australia's largest onshore basin. The Rafael 1 conventional oil exploration well located 150 kilometres east of Broome is targeting 69 million barrels of oil. A seismic program to define new prospects for future drilling is next on the agenda.

Bulls N' Bears 05 Aug 2021

Buru detects potential oil bearing zones in Canning Basin

ASX-listed Buru Energy says wireline logging at its Currajong 1 exploration oil well in the Canning Basin in the north of WA has revealed porous zones with interpreted oil saturations in one section of the well and a second section that has potential oil-bearing zones. Natural hydrogen gas has also been detected in the well that is targeting 28 million barrels of conventional oil.

Bulls N' Bears 09 Jul 2021

New Buru drilling campaign underway in Canning Basin

ASX-listed Buru Energy has got its new drilling in Western Australia's onshore Canning Basin off to a flying start with the first casing set in the Currajong 1 exploration well. Targeting 28 million barrels of conventional oil, Buru's drilling of Currajong 1 is due to conclude in the next two weeks. A second well targeting 69 million barrels of oil at Rafael 1 is set to follow.

Bulls N' Bears 02 Jul 2021

Buru spuds first well in Canning Basin oil hunt

ASX-listed Buru Energy has spudded the onshore Currajong 1 exploration oil well targeting 28 million barrels of conventional oil in the Canning Basin in the north of Western Australia. A second well, Rafael 1, targeting 69 million barrels of oil is set to follow with a seismic program to define new prospects for future drilling also on the horizon.

Bulls N' Bears 16 Jun 2021

Buru primed for Canning Basin oil drilling

Buru Energy is set to kick off its 2021 oil exploration program in the Canning Basin in the north of Western Australia where it is targeting 97 million barrels of conventional oil from back-to-back wells. A rig has been mobilised at Buru's first Currajong 1 well with a second well, Rafael 1, to follow. A seismic survey to define new targets is also on the cards.

Bulls N' Bears 28 May 2021

Buru edges closer to Canning Basin oil drilling

ASX-listed Buru Energy has moved tantalisingly close to drilling for oil in the immense Canning Basin in the Kimberley region of WA. Mobilisation of the rig for drilling of the Currajong 1 well has now commenced, with a second well, Rafael 1, to follow. Buru is targeting more than 97 million barrels of conventional oil from the two wells.

Bulls N' Bears 20 May 2021

Buru aims for back-to-back wells in WA oil drilling campaign

Buru Energy looks to be on schedule to move into drilling of its inaugural 2021 well at Currajong 1 in WA's Canning Basin. The company says site works for the well east of Broome are nearing completion with the first loads of rig gear expected to leave the Northern Territory next week. Drilling is expected to kick off in mid-June 2021.

Bulls N' Bears 13 May 2021

Buru poised for Canning oil drilling

Buru Energy remains on track to begin its 2021 drilling campaign in WA's Canning Basin, with the drill pad for the Kurrajong 1 well nearing completion. Buru and joint venture partner Origin Energy are spudding both the Kurrajong 1 and Rafael 1 wells this season, with drilling expected to kick off in June 2021.

Bulls N' Bears 14 Apr 2021

Buru locks in drill rig for 2021 Canning oil chase

ASX-listed Buru Energy is set to kick off a multi-well drilling campaign across its JV ground in Western Australia's oil-rich Canning Basin around mid-June this year after tying up a suitable drill rig with the grunt to drill both the deep exploration target at its Rafael oil prospect and go horizontally in a new Ungani oil field production well.

Bulls N' Bears 12 Apr 2021

Buru pulls $2.5m from latest Ungani oil sale

Buru Energy has completed its first oil lifting for the calendar year with 70,000 barrels of crude oil from its Ungani oil field in WA's top end leaving the port of Wyndham and netting the debt-free company approximately A$2.5m. Buru said Ungani continues to produce oil in line with predictions despite some disruptions to operations due to seasonal rains in WA's top end.

Bulls N' Bears 29 Mar 2021

Buru, Mineral Resources join forces in Pilbara

Buru Energy and its newest JV partner, ASX-listed mining and energy giant, Mineral Resources, have been awarded a new onshore oil and gas exploration license in WA's Mid West to target traditional oil and gas plays in the area by targeting the deeper, under-explored rock formations of a similar geological age to Buru's established targets to the north in the state's Canning Basin.

Bulls N' Bears 22 Mar 2021

Buru and Origin gear up for Canning oil search in WA

Buru Energy and its new farm-in partner, the giant Origin Energy, are gearing up to roll out a fresh oil exploration drilling campaign in WA's revered Canning Basin during this year's Top End dry season. Buru is chasing as much as 97 million barrels of oil across two prospects, including the highly anticipated Rafael-1 test well that sits east and along strike from the company's producing Ungani oil field.

Bulls N' Bears 21 Dec 2020

Origin joins Buru in Canning oil and gas hunt

Origin Energy has given Buru Energy a significant shot in the arm by farming into seven of Buru's oil and gas permits in the onshore Canning Basin in Western Australia. The farm-in significantly strengthens Buru's planned 2021 exploration program, including drilling of the highly prospective Rafael 1 oil well. Origin will spend $35 million inclusive of a two-well drilling program and seismic work.

Bulls N' Bears 10 Sep 2020

Cashed-up Buru tweaks Canning strategy

Buru Energy has entered into an agreement with ASX-listed Sipa Resources Ltd to progress mineral exploration at Sipa's Barbwire Terrace project immediately south-east of Buru's own Canning Basin oil and gas leases. Buru will earn a 50 per cent interest in Sipa's tenement by funding the first $250,000 of on-ground activities. Buru's latest Canning Basin oil lifting of 74,819 barrels is expected to net $1.6m for the company.

Bulls N' Bears 17 Jul 2020

Buru looking to land $1.6m from latest Ungani oil sale

Buru Energy has continued to swell its coffers with the first crude oil sale of the financial year from its Ungani oil field in WA's Canning Basin. The latest oil lifting of 74,819 barrels is expected to net Buru around $1.6m for its share of the sale by the Buru-Roc Oil joint venture sold on a spot price basis.

Bulls N' Bears 04 Jun 2020

Buru reels in extra US200k from Ungani oil sale

Buru Energy has received an extra US$200,000 in cash for its share of the recent sale of crude oil from its Ungani oil field in Western Australia's Canning basin. Buru's third oil sale for the year originally settled in mid-May at A$1.2m, net to Buru, however contractual terms saw the final price tag upped by USD $200k due to rising oil prices throughout the month of May.

Bulls N' Bears 15 May 2020

Buru banks another $1.2m from latest Ungani oil sale

Buru Energy has received $1.2m in cash for its share of the latest sale of crude oil from its Ungani oil field in Western Australia's Canning basin. This is the third oil sale for the year and rounds out a solid first half for Buru that was already sitting on a cash pot of $30 million at the end of the March quarter.

Bulls N' Bears 30 Mar 2020

Buru sandbags balance sheet, cuts corporate costs in half

Buru Energy's executive chairman, Eric Streitberg, has taken a 55 per cent pay haircut and its board fees have been reduced by 40 per cent to help it ride out the current global Coronavirus financial storm. Buru's strong balance sheet leaves it well placed to weather the storm, despite weak oil prices, with ongoing production at its Ungani oil field set to deliver further oil sales in mid-May.

Bulls N' Bears 17 Mar 2020

Buru banks $1.9 million from Ungani oil sale

Buru Energy has received $1.9m cash for its share of the latest sale of crude oil from its Ungani oil field in Western Australia's Canning basin. The sale rounds out a solid quarter of oil sales for Buru who previously predicted it would achieve $5.4m in oil sales for the March quarter – a prediction that is looking good despite the recent drop in oil prices.

Bulls N' Bears 09 Mar 2020

Buru on track for Ungani oil delivery despite weather down-time

Buru Energy said it remains on track for its March oil delivery despite having to shut in its Ungani oil field for several days due to seasonal flooding in the region. Buru said production has now resumed at a rate of 1,500 barrels of oil per day after the passing of a deep tropical low and the next delivery from the port of Wyndham was due shortly.

Bulls N' Bears 04 Nov 2019

Buru edges closer to new Canning Basin oil production

Canning Basin focussed hydrocarbon explorer and producer, Buru Energy, has largely completed its lateral section drilling at the emerging Ungani 7H well within the productive Ungani oilfield in the Kimberley region of WA. The company also reported some $3m in revenue from other wells within the Ungani oilfield this week, with two further production wells in the field, Ungani 6H and 7H, expected to come on-line during December.

Bulls N' Bears 23 Oct 2019

Buru firing on multiple fronts in the Canning Basin

Canning Basin focussed hydrocarbon explorer and producer, Buru Energy, has commenced wireline logging operations at its latest exploration well known as Miani 1. The new well is to the northwest of the company's Blina oilfield near Derby in WA. Buru recently reported some $3m in revenue from its Ungani oilfield, with two further production wells looming at Ungani 6H and 7H, expected to come on-line during December.

Bulls N' Bears 04 Oct 2019

Buru spuds new oil well in the Canning

Canning Basin focussed hydrocarbon producer, Buru Energy, has spudded a new oil exploration well known as Miani 1, to the northwest of the company's Blina oilfield, about 70km east of Derby, in the West Kimberley region of WA. The structure being targeted is well defined by 3D seismic and analogous to similar features in North America that hold major oil and gas accumulations, the company said.

Bulls N' Bears 27 Aug 2019

Buru expands oil production with Canning Basin well

Buru Energy is targeting further oil production from its Ungani oilfield in the onshore Canning Basin in Western Australia with the spudding of its Ungani-7H development well. The company plans to use a coiled tubing unit to drill the horizontal Ungani Dolomite reservoir sections of the earlier Ungani-6H and the current Ungani-7H wells in October, before placing both wells into production.

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