Buru Energy Ltd. will conduct a two-well drilling campaign onshore Canning basin in Western Australia.
Buru executed a letter of intent (LOI) with Silver City Drilling Pty Ltd. (SCD) for use of Rig 24 for the campaign comprising drilling the Rafael Shallow and Mars exploration wells during the 2024 Kimberley operating season. Buru expects the execution of a binding rig hire agreement with SCD in the near term.
Signing of the LOI follows the recent execution of two separate farm-in agreements with Sabre Energy for drilling of the high potential Rafael Shallow oil prospect in EP 428, and for the restart of production from Ungani oilfield, including drilling of the Mars oil prospect in L 20.
Drilling of both Rafael Shallow and Mars oil prospects is expected to start late in this year's third quarter or early in the fourth quarter, subject to final regulatory approvals.
Buru owns 100% of the Rafael Deep Phase 1 gas and condensate project.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).