Upstream 11/22/2022 Plans for 2023:
22 November 2022 1:45 GMT UPDATED 22 November 2022 4:53 GMT
By Russell Searancke in Wellington
The American-backed Australian shale gas company Tamboran Resources has outlined its pathway to booking a very large proven plus probable (2P) gas reserve by 2025 in the Beetaloo sub-basin, onshore Australia.
The company on Monday told its shareholders its immediate goals are the sanctioning of a pilot development project in Block EP 98 in 2023 and the potential booking of 5 trillion cubic feet of 2P gas reserves by 2025.
American horsepower set to arrive in Australia's Beetaloo sub-basin shale play
Read more
"We will drill, fracture stimulate and flow test two wells within EP 98. These wells aim to demonstrate the commerciality of the acreage and de-risk the company’s commitment to sanctioning of the 100 terajoule (94 million cubic feet) per day pilot development with our JV partners Daly Waters Energy and Falcon Oil & Gas Australia," said Tamboran chief executive Joel Riddle.
Riddle said that the company is progressing toward front-end engineering and design for the pilot development, including working with regulators and stakeholders on land access and pipeline corridors.
"We are working closely with Helmerich and Payne to import the first super-spec FlexRig into Australia. This rig is crucial to the Beetaloo, being the only rig capable of drilling the more than 3000-metre horizontal sections within the Mid-Velkerri 'B Shale. "
The rig is expected to be operational in Australia by mid-2023.
Article continues below the advert
"Finally, we will continue to secure strategic partners that will aid Tamboran in accelerating the commercialisation of the Beetaloo basin."
The company is currently drilling its second well of the year, the Amungee-2H well, which will be drilled with a 1000-metre horizontal section within the Mid-Velkerri 'B Shale' and fracture stimulated with 20 stages.
Riddle said the stimulation programme will be the first within the basin designed with true US-style completions, including 5-½ inch casing, which are important for allowing increased proppant to be flowed into the formation, improving flow rate efficiency.
Beetaloo bombshell: Aussie operator exits high-potential shale gas play
Read more
Tamboran's recent acquisition of Origin Energy’s Beetaloo basin interests has elevated Tamboran to be the leading company in the region in terms of an acreage position.
The company has the support of two US investors with extensive experience of the US shale gas sector - the founder and chief executive of US exploration & production company Parsley Energy, Bryan Sheffield; and the US onshore drilling company Helmerich & Payne.
Bullish
