Commencement of Shenandoah South Pilot Project Drilling
Sydney, Aug 30, 2024 AEST (ABN Newswire) - Tamboran Resources Corporation (
ASX:TBN) (NYSE:TBN) (TBNNY:OTCMKTS) has commenced its Shenandoah South (SS) Pilot Project drilling program with the spudding of the Shenandoah South 2 (SS-2H) well in EP 98. The SS-2H well is being drilled off a new pad located approximately 3 miles north of the Shenandoah South 1H (SS-1H) well and within the Tamboran-operated SS Pilot Project area (47.5% working interest).
Following the drilling of the SS-2H well, Tamboran will immediately drill the Shenandoah South 3H (SS-3H) well off the same pad ahead of the stimulation program.
The SS-2H and SS-3H wells will be drilled with the Helmerich & Payne (NYSE:HP) super-spec FlexRig(R) Flex 3 rig and will target the Middle Velkerri B Shale at a depth of approximately 9,910 feet (3,020 metres). Each well is expected to be drilled in 30 days.
Both the SS-2H and SS-3H wells are designed to include a 10,000-foot (3,000-metre) horizontal section and will each be stimulated with up to 60 stages utilizing the Liberty Energy (NYSE:LBRT) modern frac fleet which has recently been mobilized from the US to Australia. The increased efficiency and performance of the Liberty frac fleet is expected to result in a material increase in the number of completed stages per day and optimized gas flows.
Initial flow test results from each well are expected in Q1 2025. Once flow testing is complete, both wells will be suspended as future producers to supply Tamboran's proposed 40 million cubic feet per day (MMcf/d) SS Pilot Project. Production from the SS Pilot Project is expected to commence in H1 2026, subject to final stakeholder and regulatory approvals.
The two well program will be the largest single campaign in the Beetaloo Basin to date.
Tamboran Resources Corporation Managing Director and CEO, Joel Riddle, said:
"We are excited to commence our 2024 Beetaloo Basin drilling program, which includes the longest horizontal wells drilled in the Beetaloo Basin to date. With up to 120 stimulation stages to be completed across the two wells, this will be the largest single campaign in the basin to date.
"With the new Liberty stimulation equipment being mobilized from the US to Australia, we are eager to demonstrate the deliverability of the Mid Velkerri B Shale over the longer lateral sections with modern US completions equipment. The Liberty frac fleet is capable of materially increasing the stimulation intensity and completing more stages per day compared to the legacy stimulation fleets in Australia.
"It is our strategic partnerships with our largest shareholders, H&P and Liberty, which have dedicated equipment in Tamboran's Beetaloo Basin operations, that put us in a commanding position to derisking significant, long duration gas reserves in the Beetaloo Basin."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/97ZH8161
About Tamboran Resources Corporation
Tamboran Resources Corporation (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.
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