Energy Club NT - Tamboran increases interest in the Shenandoah South Pilot Project to a minimum of 47.5%

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Tamboran increases interest in the Shenandoah South Pilot Project to a minimum of 47.5%

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Tamboran increases interest in the Shenandoah South Pilot Project to a minimum of 47.5%

25 Mar 2024 3:50 PM | Stephanie Berlin (Administrator)

Highlights

Tamboran has increased its working interest in the proposed Shenandoah South Pilot Project to a minimum of 47.5% following a decision by Falcon Oil & Gas Australia Limited (Falcon) to limit its participation to 5% in the Beetaloo Joint Ventures’ second Shenandoah South well pad (SS2) and the two wells in the 2024 drilling program.

The two wells in the 2024 drilling program will create two Drilling Spacing Units (DSUs) totaling 51,200 gross acres around the new SS2 well pad, where Tamboran and Daly Waters Energy, LP (DWE) as 50/50% owners of Tamboran (B2) Pty Limited have agreed to pick up the non-consent, increasing interest to 95%.

Tamboran and DWE will carry Falcon for up to A$3.75 million gross (A$1.875 million net) for the first well post 30 June 2024.

The 51,200 gross acre area has the potential to accommodate 23 well pads (138 wells based on six wells per pad, 3,000-metre lateral sections and 500 metre well spacings) and it is expected to support the wells required to deliver gas to the proposed Shenandoah South Pilot Project.

To view the full ASX announcement, click here.

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