https://unauthorised investment advice/energy/energy-buru-poised-to-top-up-canning-basin-oil-production/Buru Energy (ASX:BRU) looks set to boost its oil production with the company completing a third lateral (horizontal) from its Ungani-7H production well in the Canning Basin, Western Australia.
Once this lateral is completed, the company will start clean-up flow operations on the well and move on to complete the Ungani-6H well.
Buru said Ungani-7H had flowed oil several times during drilling operations and that initial clean-up flows from the first two laterals indicated that the well produced oil at a rate of about 1400 barrels per day.
However, the company noted that this does not reflect the rate of production under long term stable flowing conditions and with a pump installed in the well.
“The operation of the underbalanced coil drilling system in the horizontal sections has exceeded our expectations, with excellent drilling times and concise directional control,” executive chairman Eric Streitberg said.
“The Ungani-7H well has performed in line with our predictions on clean-up flow from the initial two laterals and we look forward to finalising the third lateral and getting the well on longer term production.”
The Ungani oil field, which Buru has a 50 per cent operating interest in, produced about 86,000 barrels of oil during the September 2019 quarter.
