Tamboran continues climb to unlock Beetaloo shale gas potential
Tamboran will soon have a greater understanding of Beetaloo Basin’s shale gas potential with drilling of the Tanumbirini-3H vertical section now completed.
The well was completed at a depth of 3,760m after encountering the target Mid-Velkerri ‘B’ shale and drilling of the 1,000m horizontal section is expected to begin shortly once the casing has been run and cemented.
Experience from the drilling of the earlier Tanumbirini-2H horizontal well has resulted in a 20% reduction in drill time in the vertical and build sections.
Tamboran Resources (ASX:TBN) adds that the mud gas response logged and encountered at the new well is consistent with data from the Tanumbirini-1 and Tanumbirini-2H wells.
Recently, Origin Energy and its partner, UK-listed Falcon Oil & Gas, excited the market after announcing bullish exploration results from their Amungee well targeting dry gas, also in the Velkerri shale.
Success across a number of projects in the Beetaloo Basin highlight its potential as being comparable to the large shale gas plays in the US.
Drilling of the horizontal section of Tanumbirini-3H is expected to be completed by the end of October.
Once this is completed, operator Santos will demobilise the rig and start fracture stimulation operations on both horizontal wells.
Preliminary flow test results from both wells are anticipated to be available prior to the end of calendar year 2021.
The Company will use the results and learnings from Tanumbirini-2H and Tanumbirini-3H to plan drilling of Maverick 1H, located on neighbouring EP 136 that is owned 100% by Tamboran.
This article was developed in collaboration with Tamboran Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.