Buru Energy’s growth strategy and exploration program is focused on securing, exploring and developing high-potential and high-value oil and gas assets.
Buru Energy’s assets include a significant portfolio of oil and gas exploration targets in the Canning Superbasin. Our exploration program has identified potentially world class gas accumulations in the Laurel Formation and a highly significant oil discovery at Ungani.
One of the main priorities of Buru Energy’s exploration program is exploring for Ungani look-a-likes along the Ungani oil trend. We also actively explore for “sweet spots” in the large unconventional Laurel Formation tight gas play. We use a variety of exploration techniques including high performance airborne methods, 2D seismic surveys and 3D seismic surveys and have recently completed the fifth 3D seismic survey in the basin.
Buru Energy has drilled over 20 wells in the basin and has made significant improvements in our drilling approach to reduce costs and environmental impacts and increase efficiencies over the last 12 months. These improvements take advantage of developments in the coal seam gas and shale gas industries with a resulting 50% reduction in drilling costs. More importantly, rigs are contracted under fixed price arrangements so that the performance of the rigs and the associated risk are transferred to the drilling contractor.