EP 98 Operational Update: Commencement of SS-2H ST1 and SS-3H stimulation campaign
Highlights
- Tamboran has commenced stimulation activities of the Shenandoah South 2H sidetrack (SS-2H ST1) and 3H (SS-3H) wells in Beetaloo Basin exploration permit EP 98.
- The Company is planning to pump up to 119 stimulation stages across the two wells with reduced spacing between stages. The SS-2H ST1 well is planned to include 43 stages over a 5,427-foot (1,654-metre) horizontal section and the SS-3H well is planned to include 76 stages over a 9,766- foot (2,977-metre) horizontal section.
- The campaign is being conducted with the Liberty Energy (NYSE: LBRT) modern stimulation equipment, which is the first 80,000 hydraulic horsepower (HHP) frac spread imported into the Beetaloo Basin from the US.
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The increased horsepower from the Liberty equipment is expected to result in a >
25% increase in proppant intensity of >2,800 pounds per foot, as compared with Shenandoah South 1H well. All stages are being pumped with a slickwater fluid design.
“We are excited to commence the stimulation program for the SS-2H ST1 and SS-3H wells in the Beetaloo Basin with Liberty Energy's modern stimulation equipment. The increased horsepower of this equipment is expected to deliver a step change in stimulation efficiency and proppant intensity compared to previous wells completed in the Basin.
“This stimulation campaign is planned to be the largest in the Beetaloo Basin to date, with up to 119 stages over a full lateral length of 15,193 feet (~4,631 meters) across the two wells, an average of ~127 feet per stimulated stage.
“Importantly, these wells are planned to be among the first to provide reliable energy to the
“We have successfully undertaken stimulation programs during the wet season in the Basin over the last two years, with campaigns at Amungee 2H (2022/23) and Shenandoah South 1H (2023/24). This experience gives us confidence in our ability to safely and efficiently conduct these operations year-round.”
Tamboran Resources Corporation
ARBN 672 879 024
Tower One, International Towers
Suite 1, Level 39, 100 Barangaroo Avenue, Barangaroo NSW 2000,
+61 2 8330 6626 www.tamboran.com
Planned SS-2H ST1 and SS-3H completion design (as compared with SS-1H) |
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Well |
SS-1H |
SS-2H ST11 |
SS-3H1 |
Usable lateral stimulation length (feet) |
1,640 |
5,427 |
9,766 |
Number of stimulated stages (#)2 |
10 |
43 |
76 |
Average spacing (feet) |
164 |
126 |
128 |
Stimulation intensity (lb/ft) |
2,212 |
2,880 |
2,820 |
Average sand per stage (lb) |
355,997 |
373,608 |
373,608 |
Equipment Used |
Condor Energy |
Liberty Energy |
|
Equipment Horsepower (HHP) |
40,000 |
80,000 |
|
|
|
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1Planned stimulation design compared to actuals from the SS-1H well, which was completed in 2H 2023. |
|
|
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2Excludes the stimulation of the toe. |
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EP 98/117 interests |
|
Company |
Interest |
Tamboran (B2) Pty Limited1 |
|
Falcon Oil and Gas Australia Limited (Falcon) |
|
Total |
|
Shenandoah South-2 Drilling Spacing Units (DSUs) – 46,080-acres2 |
|
Company |
Interest |
Tamboran (B2) Pty Limited1 |
|
Falcon Oil and Gas Australia Limited (Falcon) |
|
Total |
|
1Tamboran (B2) is a |
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2Subject to the completion of the SS-2H ST1 and SS-3H wells on the Shenandoah South pad 2. |
This announcement was approved and authorized for release by Joel Riddle, Chief Executive Officer of Tamboran Resources Corporation.
About Tamboran Resources Corporation
Tamboran Resources Corporation, (“Tamboran” or the “Company”), through its subsidiaries, is the largest acreage holder and operator with approximately 1.9 million net prospective acres in the Beetaloo Sub- basin within the Greater McArthur Basin in the
Tamboran’s key assets include a
Disclaimer
Tamboran makes no representation, assurance or guarantee as to the accuracy or likelihood of fulfilment of any forward-looking statement or any outcomes expressed or implied in any forward-looking statement. The forward-looking statements in this report reflect expectations held at the date of this document. Except as required by applicable law or the ASX Listing Rules, Tamboran disclaims any obligation or undertaking to publicly update any forward-looking statements, or discussion of future financial prospects, whether as a result of new information or of future events.
The information contained in this announcement does not take into account the investment objectives, financial situation or particular needs of any recipient and is not financial product advice. Before making an investment decision, recipients of this announcement should consider their own needs and situation and, if necessary, seek independent professional advice. To the maximum extent permitted by law, Tamboran and its officers, employees, agents and advisers give no warranty, representation or guarantee as to the accuracy, completeness or reliability of the information contained in this presentation. Further, none of Tamboran nor its officers, employees, agents or advisers accept, to the extent permitted by law, responsibility for any loss, claim, damages, costs or expenses arising out of, or in connection with, the information contained in this announcement.
Note on Forward-Looking Statements
This press release contains “forward-looking” statements related to the Company within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements reflect the Company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words “believe,” “expect,” “anticipate,” “will,” “could,” “would,” “should,” “may,” “plan,” “estimate,” “intend,” “predict,” “potential,” “continue,” and the negatives of these words and other similar expressions generally identify forward-looking statements.
It is possible that the Company’s future financial performance may differ from expectations due to a variety of factors, including but not limited to: our early stage of development with no material revenue expected until 2026 and our limited operating history; the substantial additional capital required for our business plan, which we may be unable to raise on acceptable terms; our strategy to deliver natural gas to the Australian East Coast and select Asian markets being contingent upon constructing additional pipeline capacity, which may not be secured; the absence of proved reserves and the risk that our drilling may not yield natural gas in commercial quantities or quality; the speculative nature of drilling activities, which involve significant costs and may not result in discoveries or additions to our future production or reserves; the challenges associated with importing
It is not possible to foresee or identify all such factors. Any forward-looking statements in this document are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company’s results of operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this document.
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Investor enquiries:
Chris Morbey, Vice President – Corporate Development and Investor Relations
+61 2 8330 6626
Investors@tamboran.com
Media enquiries:
+61 2 8330 6626
Media@tamboran.com
Source: Tamboran Resources Corporation