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The not so good news of today: only 75% are carried by Org of 2022s work program
Falcon Oil & Gas is pleased to provide an update on the Beetaloo Sub-Basin. 2022 will see Falcon Oil & Gas progressing to the Stage 3 work programme of the restated Farm-Out Agreement, which will include the drilling, fracture stimulation and extended production test of two horizontal wells.
“This is an extremely important period for the Beetaloo Sub-Basin and we are delighted to have confirmed a high-impact, extensive and really exciting work programme for the joint venture.
“Falcon remains largely (circa 75%) carried for 2022, with the balance of costs being funded from existing resources. Positive results here will provide a further line of sight to the commercialisation of the Beetaloo and could lead to a pilot development program in 2023.” - Philip O’Quigley
And I can share another observation. We had a big flare and a cloudy day and this flare was able to "burn" a blue sky hole into the clouds
By the way, I know another well, that got a monster potential which is in the drilling phase now and should be tested soon, if successfull. It's a conventional reservoir target and if successful I a expect a hughe flare.
Will be exciting days in 2022 when the horizontal wells will be drilled by Org (hopefully successful, hopefully by applying the lessons learned, hopefully by not repeating the same mistakes I.e. casing diameter restriction etc), During testing we will spot the infrared satellite images from the well site again.
Perhaps Fog could install some web cams on the well site as well?
H2, you are the best :-)
"more compact" means shorted cluster spacing, i.e. more perforation holes per length of the lateral. I wouldn't read much into it
In this latest update, it seems to me like Tamboran is emphasizing how they will take the 'learnings' of the current EP161 well program, and apply it to their Maverick well expected later in the year.
"During the December 2021 quarter, we continued planning our 100 per cent operated drilling campaign in
permit EP 136. The program is incorporating data and learnings from the recent program and aims to
achieve reductions in drilling time and reduce costs...The well will be drilled with an advanced frac design and will target commercial flow rates..."
"Using data and learnings from the T2H and T3H wells
drilled during CY2021, the M1H well is expected to include more compact fracture stimulation stages aimed
at increasing well productivity."
Hmm, ...really?
So they'll look to use an advanced design, and try to increase well productivity over the current T2/T3 wells?
Perhaps this can be interpreted as they're not overly thrilled with the production profile seen so far with the currently testing wells?
Coupled with the fact that the latest satellite image seems to have regressed a bit from the prior one, imv, ...this has caused me to become more cautious in my expectations for the currently testing T2/T3 wells.
just my opinion
https://www.tamboran.com/wp-content/uploads/2022/01/220125-Second-Quarter-FY22-Activities-Report.pdf
They only need to do 600m laterals in the core! :-)
Well was shut in during early January for weather reasons...
“Fracture stimulation of T2H and T3H within the Mid-Velkerri ‘B’ shale was conducted across 11 stages
over a 660-metre lateral interval and 10 stages over a 600-metre lateral interval respectively during
December 2021. Both wells were undergoing clean-up activities and flowing gas to surface at the end of
the quarter. Operations were interrupted and the wells shut-in due to weather for a short period in earlyJanuary 2022. Testing operations have since resumed and gas is continuing to flow to surface. We expect
to be in a position to announce initial flow rates in the near-term.
https://hotcopper.com.au/threads/ann-december-2021-quarterly-activities-report.6546869/