Highlights
• The Shenandoah South 2H sidetrack (SS-2H ST1) well achieved a Beetaloo Basin record average
60-day initial production (IP60) flow rate of 6.8 million cubic feet per day (MMcf/d) over a 5,483-
foot stimulated horizontal within the Mid Velkerri B Shale.
• The exit rate maintains a steady, low-declining curve at 6.4 MMcf/d with a flowing wellhead
pressure of ~720 psi and has exhibited less decline than that of the SS-1H well over the last 30
days of testing.
• The average flow rate of 12.4 MMcf/d over a normalized 10,000-foot horizontal section remains inline with an average of more than 11,000 wells in the Marcellus Shale dry gas area with production
for over a 12-month period.
• The result reinforces Tamboran’s view of commercial deliverability from the Beetaloo Basin to
the Australian domestic East Coast gas market that typically sells at a premium to Henry Hub.
• Tamboran has commenced the three well 2025 Shenandoah South Pilot Project drilling program
with the spudding of the Shenandoah South 4H (SS-4H) well. The wells are being drilled with the
Helmerich & Payne (NYSE: HP) super-spec FlexRig® Flex 3 Rig from the SS2 pad in EP 98.
Tamboran Resources Corporation Chief Executive Officer, Joel Riddle, said:
“We are pleased to see the SS-2H ST1 well continues to demonstrate a shallow gas rate decline over the
last 30 days, delivering an average IP60 flow rate of 6.8 MMcf/d. This result is a new Beetaloo Basin record
and is more than double the previous IP60 record set by the SS-1H well in 2024.
“The normalized rate of 12.4 MMcf/d over a 10,000-foot lateral section aligns with the average of more than
11,000 wells within the Marcellus Shale dry gas area.
“We have now commenced the largest planned drilling program in the Beetaloo Basin to date, with three
wells to be drilled back-to-back with a total combined horizontal section of 30,000 feet.
“These three wells are the last remaining wells required to be drilled as part of Tamboran’s commitment to
deliver 40 MMcf/d to the local market under our gas sales contract with the Northern Territory Government
(NTG). With over 90% of electricity in the Northern Territory market supplied from gas fired power
generation, our contract with the NTG is expected to play a major role in delivering energy security for all
Territorians.”
Shenandoah South 2H ST1 flow results
The SS-2H ST1 well in Tamboran operated Exploration Permit (EP) 98 achieved average IP60 flow rates
of 6.8 MMcf/d following the 35-stage stimulation program across a 5,483 feet (1,671 metres) lateral section
in the Mid Velkerri B Shale.
During the 30-day production testing period from day 31 to 60, gas rates declined from 6.6 MMcf/d to 6.4
MMcf/d, with an average 30-day flow rate of 6.4 MMcf/d and a cumulative production of 191 MMcf. Flowing
wellhead pressures were drawn down from 906 to 722 psi over the 30-day period.
Overall, an IP60 flow rate of 6.8 MMcf/d and cumulative production of 408.2 MMcf was achieved over the
entire test period to date. Flowing wellhead pressures were drawn down from 4,565 to 722 psi.
This ASX announcement was approved and authorised for release by Joel Riddle, the Chief
Executive Officer of Tamboran Resources Corporation.