Strong gas shows in Tamboran’s Maverick 1V well and material reduction in drilling time

Highlights

• The Maverick 1V (M1V) vertical well, drilled within Tamboran’s 100 per cent owned and operated Beetaloo Basin permit, EP 136, has safely reached a total depth (TD) of 3,050 metres.
• Based on mud-logs, the M1V well has intersected Mid-Velkerri “A”, “B” and “C” shales exhibiting strong gas shows, consistent with other nearby wells and in line with expectations. Preparations are underway for a comprehensive wireline logging evaluation before suspending the well.
• TD was reached in 18.3 days, representing a 54 per cent reduction in drilling time compared to other near-field vertical sections drilled deeper than 2,500 metres in the Beetaloo Basin. This also compares to the more than 100 days to reach TD at the vertical well at Tanumbirini 1 in EP 161.
• Tamboran’s newly designed bit and bottomhole assembly delivered a 314 per cent faster rate of penetration through the Moroak sandstone, the toughest interval to drill efficiently in the deeper Beetaloo due to its abrasive and hard nature. 
• The drilling results highlight how Tamboran’s team has successfully incorporated US technical expertise and shale drilling experience to increase drilling speed and efficiency. This is expected to play a key role in reducing future drilling costs within the Beetaloo Basin.

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