Tamboran’s Beetaloo horizontal wells are poised to excite
Tamboran is confident that the Tanumbirini-3H shale well in the Beetaloo Sub-basin will respond encouragingly to fracture stimulation work.
The Santos-operated well in EP161 was successfully drilled to a total depth of 4,857m with the horizontal section once again intersecting over 1,000m of the target Mid-Velkerri ‘B’ shale.
This is consistent with the result from the earlier Tanumbirini-2H well and is an early sign that Tamboran Resources’ (ASX:TBN) belief that their location in EP 161 within the depocentre – the deepest part of the basin – will yield the best results.
Most of the best performing wells in shale basins in the US – the shale capital of the world – are found in their depocentres.
Adding further interest, Tanumbirini-3H encountered significant gas shows that are often strong indicators of commercial flow rates.
“The drilling information gained from T2H and T3H supports our pre-drill understanding that natural fractures are present at this location, the deepest part of the core Beetaloo Sub-basin,” managing director Joel Riddle noted.
“Coupled with strong gas shows encountered during drilling, we are confident the wells have intersected shale that will respond positively to fracture stimulation. Casing in T3H will be set and cemented shortly.
“The release of Easternwell Rig 106 after casing operations on the T3H well will represent the completion of our 2021 drilling program.
“Both wells will now be re-entered, fracture stimulated, and flow tested with initial results expected to be announced by the end of CY2021.”
Riddle added that information gained from the drilling and flow testing of the Santos (ASX:STO) operated wells will be incorporated into the design of the Maverick-1H well in the company’s 100% owned EP 136 permit that will be drilled next year.
Tamboran has a 25% interest in EP 161, which is adjacent to its EP 136 permit, within the centre of the Beetaloo Sub-basin.
Operator Santos has already drilled and tested the Tanumbirini-1 vertical well, which encouragingly enough flowed gas at a peak rate of 10 million standard cubic feet of gas per day (MMscf/d) and an average rate of 1.5MMscf/d during the first nine days of testing.
While this is a significant result in its own right, horizontal wells such as Tanumbirini-2H and 3H are designed to maximise exposure to the most productive reservoir and thus are expected to perform noticeably better.
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.