Western Australian focused oil and gas company Buru Energy (ASX:BRU) is pleased to provide the quarterly report for the period ended 30 June 2021.
- Contract executed with Ensign for Rig 963 for the 2021 drilling program.
- Currajong exploration well spudded on 1 July and currently drilling.
- Rafael 1 exploration confirmed as the next well in the 2021 drilling program.
- Quarterly production of ~70,500 bbls.
- Oil lifting of ~70,000 bbls in April, Buru’s 50% sales revenue ~$2.5 million.
- Further lifting in July of ~74,000bbls, Buru’s 50% sales revenue ~$3.2 million.
- Field production rate with all wells on production currently ~800 – 850 bopd.
- Ungani 8 development well planned to be drilled as the third well in the 2021 drilling program
- Placement and SPP raised ~$16 million before costs.
- Funds will be applied towards Buru’s 2021 Canning Basin exploration and development program and growth opportunities.
- Progression of integrated energy projects in hydrogen, CCS and battery minerals through dedicated business units and the appointment of a Business Development Lead for Energy Transition activity.