Highlights
• The Shenandoah South 1H (SS-1H) well in EP 117 achieved an average 60-day initial production
(IP60) flow rate of 3.03 million cubic feet per day (MMcf/d) over the 1,644-foot, 10 stage stimulated
length within the Mid Velkerri B Shale, normalized to 6.0 MMcf/d over 3,281-feet (1,000 metres).
• The SS-1H flow test indicates that future development wells with lateral lengths of 10,000 feet
may be capable of delivering average rates of 18.4 MMcf/d over the first 60 days of production.
• Results continue to demonstrate that the 1 million acres below 8,850 feet (true vertical depth) in
the Beetaloo West region is one of the most favorable places to anchor the initial development.
• The SS-1H well is planned to be flow tested until IP90, which is planned to be announced in late
April 2024.
• Tamboran continues to undertake Front End Engineering and Design (FEED) studies on the
proposed Shenandoah South Pilot Project. The Company expects to take Final Investment
Decision (FID) in mid-2024, subject to funding and key stakeholder approvals.
Tamboran Resources Corporation Managing Director and CEO, Joel Riddle, said:
“The SS-1H well continues to demonstrate a steady, low declining type-curve and holding its downhole
pressure, which implies the well is connected to a world class reservoir with a strong pressure regime in
the Shenandoah South area that supports initial development activities in the region.
“These rates continue to track average flow rates from some of the core regions in the Marcellus Shale
basin in the US, which gives us confidence these rocks can produce to commercial quantities with potential
to provide energy security to the Northern Territory and East Coast Australian gas markets.
Shenandoah South 1H flow results
The SS-1H well in the Tamboran B2-operated Exploration Permit EP 117 achieved IP60 flow rates following
the 10-stage stimulation program within the bottom 501 metres (1,644 ft) of the 1,020-metre (3,346 ft)
lateral section in the Mid Velkerri B Shale on 25 March 2024.
Testing was carried out following the installation of production tubing and a three-week soaking period to
allow for water used in the stimulation process to be absorbed by the shale. The soaking aims to increase
the relative permeability to gas of the formation and enhance future production performance.
During the initial draw down period from 25 January to 8 February 2024 (~13.3 days), the choke was
opened from 16/64” to 40/64” over staged intervals resulting in gas rates from 12.9 to 3.0 MMcf/d, with an
average of 3.5 MMcf/d and 46.2 MMcf cumulative production over that period. Flowing wellhead pressures
were drawn down from 4,611 psi to 792 psi.
During the subsequent continuous flowing period from 8 to 24 February 2024 (~16.7 days), the choke was
opened to 43/64” at the beginning of the period, resulting in gas rates from 3.3 to 2.9 MMcf/d, with an
average of 3.0 MMcf/d and 50.3 MMcf cumulative production over that period. Flowing wellhead pressures
were drawn down from 792 to 578 psi.
During the following continuous flowing period from 25 February to 25 March (30 days), the choke was left
unaltered at 43/64”, resulting in gas rates ranging from 2.9 to 2.76 MMcf/d, with an average of 2.83 MMcf/d
over the period. Flowing wellhead pressures were drawn down from 578 to 530 psi.
This ASX announcement was approved and authorised for release by Joel Riddle, the Managing Director and Chief Executive Officer of Tamboran Resources Corporation.