Tamboran Resources (ASX:TBN) updates on horizontal wells at Beetalboo

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Tamboran Resources (ASX:TBN) updates on horizontal wells at Beetalboo

ASX TBN, Tamboran horizontal wells, Tamboran Santos Joint venture
Image source: © Deaconbrown | Megapixl.com

Highlights

  • Tamboran Resources successfully brought water from the deepest and longest horizontally stimulated well to the surface.
  • The company plans to announce the production results after a 30-day flow test. 
  • TBN has commissioned NSAI to provide an independently certified resource estimate.

On Thursday, Tamboran Resources Limited (ASX:TBN) achieved the successful flow to the surface from the most profound and longest stimulated horizontal well in the Beetaloo Sub-basin.

TBN has announced that Tanumbirini 2H and 3H horizontal wells are now flowing gas to the surface following successful fracture stimulation across 11 and 10 stages in T2H and T3H wells. This comes within the target Mid-Velkerri B shale formation by the operator of EP 161 and TBN’s JV partner- Santos QNT Pty Ltd.

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The company expects to announce the production data after a 30-day flow test while updating on the steady-state production at regular intervals.

Tamboran has commissioned Netherland Sewell and Associates, Inc. (“NSAI”) to provide an independently certified resource estimate that could result in a contingent resource booking during March 2022.

Based on third-party industry analysis, the company anticipates steady production of three million standard feet per day per 1,000-metre horizontal length.

These development wells are expected to be drilled with horizontal sections of up to 3,000 metres, which will boost the recoveries at a lower unit cost.

Bottomline 

Achieving a successful flow to the surface from its horizontal wells is an important milestone for the company, along with its joint venture with its partner Santos.

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