Buru Energy Ltd., Perth, and joint venture partner Origin Energy Ltd., Sydney, have begun moving a rig onto location for the first well of a back-to-back three-well 2021 exploration and appraisal drilling program in the onshore Canning basin in northern Western Australia.
Buru expects to spud wildcat Currajong-1 (formerly Kurrajong-1, but changed to differentiate it from an offshore well) mid-June.
Currajong lies in the western section of exploration permit EP391 about 30 km west of the company’s Ungani oil field. The wildcat has similar geology to Ungani and the prospect has potential to hold around 30 million bbl, the operator said.
Currajong-1 will be directly followed by Rafael-1, a wildcat in the eastern section of EP391 about 50 km east of Ungani. A spud date is expected late July or early August.
The new prospects are two of the largest conventional oil targets to be drilled in Australia for several years, the company said.
Origin will carry Buru through exploration drilling for up to $16 million (Aus.) in a farm-in deal for 50% interest in the permit.
The third well in the program is Ungani-8, a horizontal appraisal on Ungani field in production licences L20/L21. It is being drilled into a potential undrained fault block in the structure originally targeted by Ungani 6-H.
The aim is to increase field production rates above the current 800 b/d of oil and add to field reserves.
Ungani is operated by Buru with 50% interest. Roc Oil Ltd., which is owned by Chinese company Fosun International Ltd., holds the remaining 50%.