Buru has full title to the extensive tight wet gas resources of the Laurel Formation in its permits through the central part of the Fitzroy Trough of the Canning Basin. The most well-developed of these resources is the Yulleroo Gasfield where four wells have defined a substantial gas accumulation.
The Origin Energy farm out transaction does not include the Yulleroo Gasfield which is retained 100% by Buru.
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 generally have low porosity and permeability, the large scale extraction of the gas requires hydraulic stimulation, or fraccing to achieve commercial flow rates. There are several zones in the upper part of the section that appear to have the potential for conventional gas flows and the evaluation of these is ongoing. Conventional gas resources could be used to supply local industry including for power generation as a substitute for LNG trucked from the Pilbara.
An 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