Tamboran Resources advances on Shenandoah South well stimulation
2023.11.26 21:49
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Tamboran Resources Limited has commenced the stimulation of the Shenandoah South 1H well within its operated EP 117 permit in Australia, where it holds a 38.75% interest. The operation, managed by Condor Energy Services, is set to complete a 500-meter horizontal section using advanced techniques that include increased hydraulic horsepower and elevated well design pressures. The completion is targeted for December.
The stimulation is a critical step in the development of the Shenandoah South Pilot Project, which aims for a daily production rate of 40 million cubic feet of gas (MMcf/d). Following the stimulation phase, Tamboran plans to install production tubing to facilitate fluid flowback and gas breakthrough, with initial production (IP30) flow rates expected to be announced in the first quarter of 2024.
Diagnostic tests have already indicated that the area exhibits an over-pressured regime similar to that found in the Tanumbirini wells. This finding is significant as it supports the potential for high-performance levels from the Shenandoah South well.
Tamboran’s involvement in projects like these underscores its commitment to contributing to the global energy transition by developing low CO2 sources in Australia’s Beetaloo Sub-basin. The company also maintains a notable 25% working interest in EP 161.
In related market news, Tamboran Resources’ shares experienced a notable increase, reaching 14.5 cents today. This surge in share value reflects investor confidence following the initiation of the Shenandoah South stimulation stages.
In other industry developments, RareX Limited has completed a strategic land acquisition at Wyndham Port to support infrastructure for its Cummins (NYSE:) Range Rare Earths & Phosphate Project, leading to a boost in its shares to 3.1 cents. Meanwhile, Black Canyon has emerged as Western Australia’s top manganese holder after reporting that its KR1 and KR2 resources now exceed 100 million tonnes (Mt), which propelled its shares up to 15 cents.
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