Australian operator Buru Energy has kicked off a two-well exploration campaign with significant oil potential in its stronghold onshore Canning basin in north-west Australia.
The Currajong-1 conventional oil exploration well spudded on 1 July 2021 using the Ensign 963 rig.
The well is targeting mean prospective resources of 28 million barrels of oil in Block EP 391, owned on a 50:50 basis by Buru and Origin Energy.
The well is expected to have similar good quality reservoir and oil properties as the Buru-operated Ungani oilfield and is at similar depths; it is expected to be completed by late July or early August.
Currajong-1 will be followed by the Rafael-1 conventional oil exploration well.
Buru said it also intends to acquire 1100 kilometres of 2D seismic data across Blocks EP 457 and EP 458 to further define a new geological concept that has the potential for large conventional oil accumulations.
Buru’s executive chairman Eric Streitberg said: “We are delighted to be kicking off the most extensive drilling and seismic program in the Canning basin for many years."
"We are very pleased to be using a modern high capacity rig and we have worked diligently with the rig owners, Ensign Drilling, to ensure it is fully fit for purpose for the program before our final acceptance of the rig and the spud of the well.
"With the oil price currently approximately A$100 a barrel, and our existing infrastructure and operating experience in the basin, we are well placed to monetise any discovery.
"A success at Currajong would also high grade the other similar prospects in that area with significant further potential along the trend. We are also very much looking forward to the next well in the program, Rafael-1 which is a large conventional oil prospect that could be of national significance if it is a discovery."