Project Profile
Location: Canning Superbasin of Western Australia
The evaluation of the data obtained from the 2015 Laurel Formation tight gas stimulation program has confirmed the prospectivity and commercial potential of the resource. The wells performed very strongly during the post frac flow period, with gas flows from all stimulated zones, and initial gas peak rates on blowdown of up to 44 million cubic feet of gas per day, and average blowdown gas rates of up to 13.5 mmcf per day.
A Discovery Assessment Report (DAR) has been submittedvto the Department of Mines and Petroleum (DMP) for the petroleum pool confirmed by the Valhalla North and Asgard well stimulations. Under the petroleum legislation in Western Australia it is necessary to provide the DMP with a DAR prior to making an application for a Location, and from that, any subsequent titles. DMP have informed the JV that the report meets the requirements of the applicable regulations.
Subsequent to the successful completion of the tight gas stimulation program at the Valhalla North 1 and Asgard 1 wells, DeGolyer and MacNaughton (D&M), a resource assessment consulting group with specialist North American tight gas and unconventional resource experience, were commissioned to undertake an independent assessment of the gas and liquids resources of the Laurel Formation in the Valhalla area.
D&M’s estimate of the range of the gross estimated recoverable volumes of Contingent Resources and Prospective Resources for the Valhalla accumulation on EP 371 are provided below. Buru Energy has a 50% equity share of these resources
Operators:
Buru Energy: Operator with 100% interest