Tamboran Resources Corporation (NYSE:TBN, ASX:TBN) has suspended drilling at the Shenandoah South 2H sidetrack (SS-2H ST1) well in the Beetaloo Basin of Australia's Northern Territory and completed well casing, having drilled to a depth of 16,182 feet (4,932 metres).
This well includes a 5,906-foot (1,800-metre) horizontal section within the Mid Velkerri B Shale – TBN intends to stimulate about ~5,577 feet (~1,700 metres) of this horizontal section.
The company will now move to drilling the Shenandoah South 3H (SS-3H) well, with plans for a horizontal section of 10,000 feet (about 3,000 metres) in the Mid Velkerri B Shale.
Drilling speed accelerating across wells
“Following consultation with our Beetaloo Joint Venture (BJV) partners, the decision was made to case and suspend the SS-2H ST1 well at a measured depth of 16,182 feet (4,932 metres), following the failure of a directional drilling tool while drilling the horizontal section,” Tamboran Resources managing director and CEO Joel Riddle said.
“The decision to case the SS-2H ST1 well early will avoid additional rig costs and will enable the immediate drilling of the SS-3H well from the same well pad.
“Following consultation with our oilfield services provider, Tamboran expects an increased performance from the directional drilling tools that will be used in the SS3H well.
“Prior to the completion of drilling the SS-2H ST1 well, I was pleased to see our team successfully apply lessons from prior wells in the Beetaloo Basin and achieve record drilling rates of 1,240 feet drilled per day from spud of sidetrack to TD, 31% faster than the SS-2H well.
“We expect further learnings to be applied in the drilling of the SS-3H well.
“Importantly, Tamboran's geologic modelling of the Mid Velkerri B Shale continues to be validated, with a step-out of ~1,640 feet (~500 metres) from the original SS-2H well.
“The SS-2H ST1 well logged a consistent, high-quality reservoir section with no faulting within the shale formation.”
Once the SS-3H well is complete, the Liberty Energy stimulation equipment will be used to complete the SS-2H ST1 and SS-3H wells with at least 34 and 60 stages, respectively, beginning in the first quarter of 2025.
Tamboran is on track to deliver IP30 flow rates from both the SS-2H ST1 and SS-3H wells within the same quarter.