Tamboran Resources has increased the unrisked contingent gas resources in the Beetaloo Basin by 32% to 2.0 trillion cubic feet (TCF).
The increase in gas resources comes as a result of the drilling of the Maverick 1V (M1V) well, which resulted in an initial resource booking within the EP 136 permit as well as an associated resource increase in the neighbouring EP 161 permit (Tamboran: 25%) and EP 76 permit (Tamboran: 38.75%).
Changes to 2C contingent gas resources from the previous resource assessment (31 August 2022) include;
- 406 billion cubic feet (BCF) in EP 136,
- 66 BCF in EP 1161, and
- 11 BCF in EP 76/98/117
Tamboran Managing Director and CEO Joel Riddle said Tamboran continues to exhibit the continuous nature of Mid Velkerri B and C Shale across their 4.7 million gross acreage position in the Beetaloo Basin.
“Our strategic focus remains on the western region of the Basin, where the SS1H well has successfully intersected the Mid Velkerri at depth and in close proximity to the Amadeus Gas Pipeline. This strategic positioning is expected to support a potential accelerate production to supply natural gas to the Northern Territory market. This is particularly critical given recent production declines from the offshore Blacktip gas field, which is expected to impact the region’s gas supply,” Riddle stated.
The resource upgrade has been examined and certified by Netherland, Sewell & Associates, Inc. (NSAI), a recognised independent third-party resource certifier, effective 30 June 2023.
The recently drilled Shenandoah South 1H (SS1H) well in EP 117 is not included in the revised contingent gas resources. Tamboran intends to assess the resources surrounding the SS1H site following flow testing, which is scheduled for Q1 2024.
