Buru Energy has identified and appraised a world scale tight wet gas resource that potentially offers long term energy security to Western Australia, significant contribution to Australia’s GDP and socio-economic and employment opportunities for people and businesses in the local and regional community.
The gas is hosted by the thick (+2,000m) Laurel Formation and is located at depths from 2,000 m to beyond 5,000 m below the surface. As the host rocks have low porosity and permeability, the extraction of the gas requires hydraulic stimulation, or fraccing to achieve commercial flow rates. Buru Energy has 100% of the Laurel Formation tight wet gas resources in the Northern and Western provinces of the Canning Basin. The most well defined of these prospects is the Yulleroo Gasfield.
Buru has previously undertaken a comprehensive evaluation of the unconventional gas potential of the Laurel Formation in the Canning Basin, including an extensive program on the Yulleroo Gasfield where it has drilled three wells and undertaken a hydraulic stimulation (frac) program in the Yulleroo 2 well with encouraging results.
A recent independent evaluation of the gas and liquids resources of the Yulleroo Gasfield by RISC determined 2C Contingent Resources net to Buru of some 714 petajoules of recoverable gas with 24.9 MMbbls of associated liquids. Refer to Buru’s ASX release of 18 January 2018 for full details.
The Western Australian Government has introduced a moratorium on fraccing in Western Australia while an Independent Scientific Inquiry is carried out. This Inquiry is due to report by the end of 2018.
A technical description of the Laurel Formation accumulation can be found here.