Buru Energy, and partner Energy Resources (EnRes), has successfully applied for two exploration areas, strengthening its presence in the Carnarvon Basin.
The new exploration areas, L22-2 and L22-4, are located in the Northern Carnarvon Basin and the Merlinleigh Sub-Basin.
They are immediately south of permit area EP 510, which is also shared between Buru and joint venture (JV) partner EnRes – a subsidiary of Mineral Resources.
Buru CEO Thomas Nador said that the company is pleased that its strong relationship with EnRes has led to a 100 per cent success rate for applications.
“These areas substantially advance Buru’s strategy to leverage our considerable inhouse geoscience expertise to grow our exposure to future onshore energy developments,” he said.
Both areas were part of the Western Australian government’s petroleum acreage release 2 in 2022.
EnRes will act as operator with a 75 per cent stake, with Buru taking the remaining 25 per cent.
The addition of the new exploration areas makes the JV the largest acreage holder in the onshore Carnarvon Basin and Merlinleigh Sub-basin.
“The recent activity in the Perth Basin both geologically and corporately illustrates the major impact that gas discoveries can have, particularly in these under-explored basins close to infrastructure,” Nador said.
Subscribe to Energy Today for the latest project and industry news.