Bass Oil says production at its Indonesian Bunian field has risen from 250 bopd to more than 800 bopd on a 100% share basis after Bunian 6 began producing from a newly discovered reservoir. Output could reach about 1,000 bopd once additional trucking capacity is available.
- Bunian production exceeds 800 bopd on a 100% share basis
- Bunian 6 producing from newly discovered M sand
- Field target rises to about 1,000 bopd subject to trucking capacity
- Bass to update reservoir models and assess reserves
- Bass holds a 55% operating interest in the KSO
Bunian production more than triples after well startup
Bass Oil Limited (ASX:BAS) has lifted production at its Bunian field in Indonesia to more than 800 barrels of oil per day, up from 250 bopd, after bringing the Bunian 6 well online. The figures are reported on a 100% field basis; Bass operates and owns a 55% interest in the relevant KSO.
The result is ahead of the company’s expectations and gives Bass a near-term production target of about 1,000 bopd once additional trucking resources become available. That condition matters: the field’s ability to convert well performance into reported output still depends partly on transport capacity, rather than geology alone.
New M sand opens another development target
Bunian 6 is producing from the M sand, a newly discovered oil pool that Bass drilled to evaluate for reserve potential. Production testing of the TRM3 and K1 zones produced results described by the company as expected, while the M sand has become the immediate source of the well’s production.
Managing Director Tino Guglielmo said the well had “continued to exceed our expectations” and that the M sand could increase field reserves while creating another target for future drilling at Bunian West. His comments were issued by Bass Oil (ASX:BAS), which said stronger production should contribute to free cash flow and capital for other growth projects.
Reserve estimate now depends on reservoir modelling
Bass will use data from the drilling and evaluation programme to update its reservoir models, quantify reserves and assess future development opportunities. The company’s existing internal modelling had forecast initial production of 500 bopd and estimated P50 ultimate recovery of 151,000 barrels from the TRM3 reservoir on a 100% joint-venture basis.
That estimate does not yet quantify the M sand’s reserves potential. The next useful marker for shareholders will therefore be the updated modelling, alongside evidence that production can stabilise above the current level and that trucking constraints can be resolved without eroding the benefit of the higher well output.
Bottom Line?
Bunian 6 has delivered a clear production uplift, but the value of the discovery remains tied to trucking availability and a yet-to-be-released reserve assessment.
Questions in the middle?
- How quickly can additional trucking capacity support the 1,000 bopd field target?
- What reserve volume will Bass assign to the newly discovered M sand?
- Will the updated reservoir model support further drilling at Bunian West and Bunian Northwest?