Tamboran Assets Corp. and its companions have achieved report completion leads to the Beetaloo Sub-Basin onshore Australia’s Northern Territory after stimulating the Shenandoah South 2H (SS-2H ST1) sidetrack properly.
“The SS-2H ST1 completion operations achieved 5 phases over a 24-hour interval on a number of days, exceeding earlier Beetaloo Basin data”, the Sydney-based pure fuel exploration and manufacturing firm mentioned in a regulatory submitting.
The stimulation coated 35 phases throughout a 5,483-foot horizontal part within the Mid Velkerri B Shale utilizing Liberty Power Inc.’s fashionable stimulation gear, which in line with Tamboran is “the primary 80,000-hydraulic-horsepower frac unfold imported into the Beetaloo Basin from the US”.
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“The elevated effectivity from the Liberty stimulation gear has delivered Beetaloo Basin completion data for common proppant injection depth and treating charges over 100 bpm [barrels per minute]”, commented Tamboran managing director and chief govt Joel Riddle. The 35 phases averaged 2,706 kilos per foot in proppant depth.
“We’ll now deal with finishing and cleansing out the SS-2H ST1 properly forward of the graduation of preliminary move again and prolonged manufacturing testing”, Riddle mentioned.
SS-2H ST1 is a part of what Tamboran mentioned is the most important stimulation marketing campaign in Beetaloo. Moreover the sidetrack properly, the marketing campaign, introduced January 24, contains Shenandoah S2-4H (SS4H). A complete of 119 stimulation phases are deliberate throughout the 2 wells.
The wells are deliberate to provide the EP 98 license’s proposed Shenandoah South Pilot Challenge, which is anticipated to supply 40 million cubic ft of fuel a day. The builders anticipate to start out manufacturing mid-2026.
An extra four-well marketing campaign is deliberate for 2025 to finish the Pilot venture’s drilling section.
EP 98 is operated by Tamboran (B2) Pty Ltd., a 50-50 three way partnership (JV) between Tamboran and Daly Waters Power LP, a portfolio firm of Formentera Companions LP. Tamboran (B2) owns a 77.5 % stake whereas Falcon Oil and Fuel Australia Ltd., majority-owned by Falcon Oil & Fuel Ltd. (Falcon), holds the remaining 22.5 %.
In a separate announcement on January 24, Falcon mentioned it had given up its 5 % taking part curiosity (PI) within the subsequent drilling section of the Pilot venture, which includes the 4 remaining wells deliberate to be drilled this yr.
“Falcon participated within the Shenandoah S-1H properly in 2023 at its 22.5 % PI which created a Drill Spacing Unit (DSU) of 20,480 acres”, Falcon mentioned.
“Falcon participated within the S2-2H ST1 and the S2-4H wells in 2024 at its decreased 5 % PI which created two DSUs totaling 46,080 acres.
“The Beetaloo JV companions [Tamboran (B2) and Falcon] are planning on creating an enlarged space across the Pilot, often known as the First Strategic Growth Space (FSDA), which might amalgamate the acreage and PIs from the DSUs talked about above and any additional DSUs which may be created as a part of the Pilot.
“Relying on the final word dimension of the deliberate FSDA Falcon’s mixed participation entitlement within the FSDA put up the Pilot may very well be as much as 10 %.
“Falcon additionally retains a 22.5 % PI within the remaining 4.52 million acres within the Beetaloo, internet 1 million acres to Falcon”.
Falcon chief govt Philip O’Quigley mentioned, “Decreasing our participation within the subsequent 4 wells has a minimal influence on our total curiosity within the Beetaloo which stays at 22.5 %”.
“This demonstrates the optionality afforded by the DSUs, which allow Falcon to strategically and effectively deploy its capital”, O’Quigley mentioned. “This discount in our participation within the subsequent 4 wells considerably reduces our 2025 capital expenditure while on the identical time leaving us very properly positioned to seize the general success of the Beetaloo”.
To contact the writer, e mail jov.onsat@rigzone.com
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