Tamboran Resources (ASX:TBN) Drills Landmark Horizontal Well in Beetaloo Basin

2 min read | December 23, 2024 12:00 AM AEDT | By Team Kalkine Media

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Tamboran Resources (ASX:TBN) Drills Landmark Horizontal Well in Beetaloo Basin — Image source: shutterstock

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Highlights

Tamboran Resources (TBN) achieves a milestone with the Beetaloo Basin horizontal well.

Strong gas shows and shale properties observed, with no faulting detected.

Initial flow tests planned for early next year, supporting development goals.

Tamboran Resources (ASX:TBN) has made a significant breakthrough in the Beetaloo Basin with the completion of its Shenandoah South-3H (SS-3H) well. This well, part of exploration permit EP 98, sets a historic benchmark as the first in the basin to feature a 10,000-foot horizontal section drilled below an 8,000-foot true vertical depth.

The SS-3H well was drilled, cased, and cemented to a total depth exceeding 21,000 feet within 25 days, reflecting a remarkable drilling rate of 843 feet per day. This efficiency marks a significant improvement, completing 43% faster than its predecessor, the SS-2H well. Observations during drilling revealed strong gas shows and high-quality shale properties throughout the horizontal section, with no indications of faulting—key indicators of the basin's potential.

The company has ambitious plans for the next phase of development. A stimulation campaign involving 100 to 120 stages is scheduled for early Q1 2025, utilizing equipment currently on-site. The SS-2H ST1 well is set to undergo up to 45 stimulation stages, while SS-3H is designed for up to 75 stages, aiming to maximize gas recovery and productivity.

The results from these wells will play a pivotal role in the Shenandoah South Pilot Project planned for 2025. This project is focused on delivering gas to the Northern Territory market, leveraging the basin's vast resources to meet growing energy demands. Initial 30-day flow tests for both wells are anticipated in Q1 2025, providing critical data to guide further development.

Tamboran Resources credited its operations team for their efficiency and expertise, emphasizing the consistent high-quality shale properties observed in the Shenandoah region. These developments underscore the company's commitment to unlocking the Beetaloo Basin's potential and contributing to the energy landscape in the Northern Territory.

This milestone marks a step forward in demonstrating the Beetaloo Basin’s resource viability, with Tamboran Resources at the forefront of innovation and development in the region. As the company moves closer to its pilot project goals, these achievements highlight the promising outlook for the basin's contributions to the energy sector.

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