Tamboran Resources Ltd (ASX:TBN, OTC:TBNRF) has welcomed results from the EP 117 Operation’s Shenandoah South 1H (SS-1H) well, which has demonstrated an over pressured regime with a pore pressure gradient of at least 0.54 pounds per square inch (psi) per foot, in line with results demonstrated at Tanumbirini (0.51 – 0.56 psi per foot).
The results were verified by third party Subsurface Dynamics, Inc, an independent advanced reservoir engineering and geoscience consulting firm.
Above commercial threshold
“Results from the DFIT along with the log analysis of the Mid Velkerri B Shale at the SS-1H location have demonstrated that the deepest regions of the Beetaloo Basin hold the highest quality shale and are most optimal for development,” Tamboran Resources managing director and CEO Joel Riddle said.
“The pore pressure gradient of at least 0.54 psi per foot is consistent with an over pressured regime observed in the core area of the Marcellus Shale.
“In addition, this result provides increased confidence that the flow rates achieved at the T2H and T3H wells, which exceeded what Tamboran believes to be the commerciality threshold for the Beetaloo Basin, can be replicated or exceeded in the Shenandoah South location.
“This is a major data point that validates our decision to focus the location of the proposed Pilot Development in the Shenandoah South region.
“We plan to update the market in coming months on our 2024-2025 drilling program with the H&P super-spec FlexRig® Flex 3 Rig that will aim to supply the proposed 40 terajoules (TJ) per day pilot plant, providing valuable gas supplies to the Northern Territory gas market.”
Condor Energy Services Limited has begun mobilising stimulation equipment to the SS-1H well pad in preparation for a planned 10-stage stimulation program in November this year.
Tamboran says IP30 flow rate results are on track to be released in early Q1 2024, subject to the timing of stimulation fluid flow back.
Once SS-1H has been flow tested, Tamboran and the Beetaloo Joint Venture (BJV) expect to be in a position to sanction the proposed Pilot Development in the Shenandoah South region.
The joint venture consists of a 77.5% interest on Tamboran’s side and a 22.5% interest for Falcon Oil and Gas Australia Limited (Falcon).