The update highlights that the company was able to complete the oil lifting from Wyndham 1 January 2019 at 10 am.The process started on 31 December 2018 where a total of approximately 70,000 barrels of oil got lifted in the process.
Bru Producer%27S Edition Bru Producer%27S Update Highlights ThatThe pricing of the oil will depend on the Trafigura contract. The drilling program for 2019 will use NewGen Drilling Pty Ltd (NGD) Rig 405 where the company has signed the contract with NewGen Drilling Pty Ltd. NGD Rig 405 is a piece of powerful equipment and is fully automatic modular rig which can drill high angle and horizontal wells. The rig can take advantage over the other equipment as it can even reach out to the remote operations in the Canning Basin. The outstanding liability of 5,000,000 will be paid in two equal installments each of 2,500,000 annually by the end of the calendar year 2019 and 2020. Even though the oil price remains low, the company was able to maintain its strong balance sheet with 60 million cash in excess. The performance of BRU in the last ten years is 17.32. The previous one-year performance of the company is -36.92. Further, the half-year period reports a decrease in the accumulated losses which proves its improved operational efficiency. The total shareholders equity is worth 94.823 million. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domainCC0 status) to where it was found and indicated it below the image. We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
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