Falcon Oil drills Shenandoah South Pilot Project well
Falcon Oil & Gas Ltd.
3.91p
13:50 23/12/24
Falcon Oil & Gas announced on Monday that it has successfully drilled the Shenandoah S2-4H (SS4H) well in the Beetaloo Sub-basin of Australia’s Northern Territory as part of its Shenandoah South Pilot Project.
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The AIM-traded firm said the horizontal well reached a measured depth of 6,452 metres, or 21,169 feet, and was cased and cemented without complications.
Data from the SS4H well indicated strong gas shows and high-quality shale and rock properties, consistent with results from earlier wells in the project, including Shenandoah South 1H and Shenandoah South 2H (SS2H ST1).
No faulting was detected along the 3,048-metre, or 10,000-foot, lateral section.
Stimulation equipment and materials from Liberty Energy had been mobilised to the site, with the stimulation campaign scheduled to begin early next year.
Initial production (IP30) flow test results from SS2H ST1 and SS4H were expected in the first quarter of 2025, offering further insight into the project's potential.
Falcon operates the project in partnership with Tamboran B2.
“The completion of the SS4H well is another milestone in the development of the Beetaloo Sub-basin and we will look forward to the upcoming stimulation campaign and updating the market as operations progress,” said chief executive officer Philip O’Quigley.
At 1015 GMT, shares in Falcon Oil & Gas were down 0.72% at 3.82p.
Reporting by Josh White for Sharecast.com.