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TAMBORAN RESOURCES
Australian shale company outlines its Beetaloo reserves and production plans.
22 November 2022
By Russell Searancke in Wellington
The American-backed Australian shale gas company Tamboran Resources has outlined its pathway to booking a very large proven plus probable (2P) gas reserve by 2025 in the Beetaloo sub-basin, onshore Australia.
The company on Monday told its shareholders its immediate goals are the sanctioning of a pilot development project in Block EP 98 in 2023 and the potential booking of 5 trillion cubic feet of 2P gas reserves by 2025.
American horsepower set to arrive in Australia's Beetaloo sub-basin shale play.
"We will drill, fracture stimulate and flow test two wells within EP 98. These wells aim to demonstrate the commerciality of the acreage and de-risk the company’s commitment to sanctioning of the 100 terajoule (94 million cubic feet) per day pilot development with our JV partners Daly Waters Energy and Falcon Oil & Gas Australia," said Tamboran chief executive Joel Riddle.
Riddle said that the company is progressing toward front-end engineering and design for the pilot development, including working with regulators and stakeholders on land access and pipeline corridors.
"We are working closely with Helmerich and Payne to import the first super-spec FlexRig into Australia. This rig is crucial to the Beetaloo, being the only rig capable of drilling the more than 3000-metre horizontal sections within the Mid-Velkerri 'B Shale. "
The rig is expected to be operational in Australia by mid-2023....

Great to be hearing more positive news from the Beetaloo again and drilling speeds and efficiency being driven down...

Empires’ Carpentaria-2, 2H and 3H wells have been launched from the same drill pad, however they fork in different directions at depth. The bores are aimed at testing the deliverability of the site’s Velkerri-B shales and fits with the company’s rapid commercialisation strategy.

As part of the plan the company will look to set up a multi-armed gas play through its Carpentaria wells.

National Indigenous Times
14th November 22

On Warranangku country in the gas-rich Beetaloo Sub-Basin of the Northern Territory, Jingili Elder and Native Title holder Pompey Raymond is concerned the debate on gas exploration there has been hijacked by those who shouldn’t be speaking for his country. He’s spoken out through the National Indigenous Times and Land Rights News, and in conversations with those prepared to listen.

Mr Raymond wants to see jobs, education and infrastructure in his community. He also sees a pathway to protect his country from climate change by displacing coal-fired power in Australia and Asia with some of the cleanest gas in the world — with gas producing half the emissions of coal and Beetaloo gas having far lower carbon content again than the industry averages for gas.

A Senate Inquiry into activities in the Beetaloo Basin has been prolonged by six months, with the final report due February 2023. This delay has held back the approval of projects Mr Raymond and other Traditional Owners want to go ahead on their lands.

Mr Raymond said those who rightfully speak for country have been clear in their support. However, the Senate Inquiry has so far been dominated by the misconception that all Traditional Owners are opposed to gas extraction in the Northern Territory.

This idea has been spread by a breakaway Indigenous group and individuals who don’t have the authority to speak for native title holders.

Thanks Wetwater, this is a concern that is in the back of everyone's minds.

Great news VM!

Managing director and CEO Joel Riddle said: “The A2H well was successfully spudded on November 10, 2022, with the Silver City Rig 40 in Tamboran’s newly acquired and operated exploration permit EP 98.

“The drilling of the well and the fracture stimulation design will incorporate significant learnings from the recently drilled Maverick 1V well in Tamboran’s operated EP 136 permit, where the vertical section was drilled in 18.3 days, a record for a well in the Beetaloo with a true vertical depth of more than 2,500 metres.”

Tamboran’s Beetaloo Basin asset location map.

Fracture stimulation to follow
Following drilling, the A2H well is expected to commence a hydraulic fracture stimulation program with a US style unconventional shale design.

The well is designed with 5-½ inch casing that allows for effective placement of proppant into the formation, optimising completion efficiency.

Riddle said: “The fracture stimulation program has been designed by Tamboran’s operational team, who have drilled more than 5,000 unconventional wells in North America, and also incorporates learnings from the Santos operated Tanumbirini 2H and 3H wells in EP 161 (Tamboran 25% non-operator), which have been on flow test with production tubing since early August 2022.

Team increased..
Completion of this acquisition means that Tamboran’s team has been increased with the addition of 10 staff from the Origin team who are set to play a key role in unlocking the commercial potential of the Beetaloo Basin.

“We welcome the experienced team of professionals from Origin that have joined Tamboran. The team will provide valuable operational and technical expertise, having served in senior operational roles with Origin in the drilling of key wells in the Beetaloo over the last few years,” Riddle said.

Tamboran Resources Limited Managing Director and CEO, Joel Riddle, said: "We have successfully completed the acquisition of EPs 98, 117 and 76 from Origin Energy. Tamboran now holds the largest consolidated position in the deepest section of the Beetaloo Basin... “We welcome the experienced team of professionals from Origin that have joined Tamboran. The team willprovide valuable operational and technical expertise, having served in senior operational roles with Origin in the drilling of key wells in the Beetaloo over the last few years. “We also look forward to working closely with our local NT communities, to generate further jobs and opportunities for all Territorians. Tamboran is very excited to be at the forefront of the development of the significant low-CO2 unconventional gas resource in the Beetaloo Basin, which is expected to bring significant employment and royalties to the Northern Territory, as well as support Australia’s national energy security and energy transition.”
Tamboran have employed 10 people from Origin Energy, it sound like many of these roles are related to the community development in the Beetaloo.

Thanks for the link Hardrock, the Middle Arm proposal looks like a fantastic proposal for the NT with carbon capture and hydrogen included in the scheme. I'm sure Natasha is fuming with the green lobbyists.

NT News
Middle Arm, Beetaloo the projects that will help get the NT to $40bn by 2030: Chief Minister
The NT government has set an ambitious goal of growing the Territory’s economy to $40bn by 2030. Chief Minister Natasha Fyles explains how we’ll get there....
Rest of article is subscription only.

Sky News November 2, 2022
NT Chief Minister blasts environmentalists over 'rubbish' claims authorities are planning to build a petrochemical plant in Darwin Harbour.
Teal independent Monique Ryan said a petrochemical manufacturing facility funded by the federal government would amount to a "subsidy for the fossil fuel industry".
A $1.5 billion development in Darwin Harbour has triggered an angry response from teal independents and environmentalists as they believe the government plans on building a petrochemical plant. Northern Territory Chief Minister Natasha Fyles responded by telling people to “stop making mistruths that are based on nothing but rubbish” at a press conference.
Northern Territory Chief Minister Natasha Fyles has accused environmentalists of spreading misinformation about an industrial development in Darwin Harbour.

Yeah, I think WW was bluffing with the 1000 shares, but everyone's frustrated comments as well as the knowledgeable and technical are welcome here! GLA

Sky News had fun recently when reporting on the inadequacies of taking the energy efficient paty to powering homes in Aus.
https://youtu.be/4bQOXRx6FN8

Thanks, it's great to see such positive sentiment given from native people towards fracking:

Jingili man Fred Godilla.. wants to see opportunities for the young people come out of industrial development, including jobs, housing and the opportunity to stay in their community.

Mr Godilla’s sentiment is shared by Mudburra-Jingili man Jeremy Jackson.

“ we are now getting all these opportunities from these oil and gas companies,” he said.

“A lot of our young people were sitting around doing nothing in Elliott, now they have some people working with the companies..

“We need all these work opportunities here because we got hardly nothing.”

Work aside, Mr Jackson hopes the money flowing into town will solve one of Kulumindini’s larger problems..

Origin Energy did work very closely with the local communities, I hope that Tamboran will be able to continue with this valuable work.

Yes, it's considerable in size, could it be POQs salary gas been delivered to the wrong address by mistake!?

I agree with your thoughts Newty, I suspect that having Riddle in charge of the best part of the Beetaloo would be the NT government's worse case scenario, I don't know whether they will have good reason to stop the deal going through, but it is a possibility.
I am praying that POQ can cunjoir up a plan to save us from this cowboy!

Another article concerning Tamborans deal with Origin - Share cafe.com.au

... Origin’s decision to sell, driven by a broader shift in strategy away from greenfields exploration, has enabled Tamboran to build a portfolio of assets encompassing the Beetaloo’s most prospective areas. The portfolio will not only enable greater optionality in the case of full field development but will surely be seen as an attractive strategic asset for any of Australia’s LNG exporters looking to expand.

The deal sees an increased level of involvement in the Beetaloo from Brian Sheffield – founder and CEO of Parsley Energy. Bryan Sheffield is committing $60 million – $30million into the Tamboran placement as well as $30million directly into the Origin deal – making him 50-50 partner in the JV. In addition, Mr Sheffield has paid Tamboran $22 million for a 2.3% Overriding Royalty interest (ORRI) over production from all of Tamboran’s permits. This significant investment by Mr Sheffield to increase his stake in Tamboran and to directly invest in the JV should provide domestic investors with a higher degree of comfort given his outstanding record in the development and production of Parsley’s US acreage.

The involvement of Helmerich and Payne Inc (H&P) – the largest onshore drilling solutions provider in the United States – is also a significant waypoint in the project’s progression. H&P is listed in the United States, and they indicated to the US market just last month their intention to diversify internationally. Their investment of $22million into the placement is not only a huge vote of confidence in Tamboran and the Beetaloo but it will also enable Tamboran to access the powerful drill rigs and technology that is necessary for drilling the longer horizontal wells that drive improved productivity and profitability in unconventional shale gas.

There will be a big shift in Tamboran’s Resource position given Origin’s exploration activity to date and it potentially enables Tamboran to move towards development decisions more swiftly than before. The acquisition will increase Tamboran’s Net 2C Contingent gas resources by 268% to nearly 1.5 trillion cubic feet (TCF) and increase their Net Unrisked Prospective Gas Resources by 370% to 147 TCF

Joel Riddles decision not to appear at the Parliamentary Committee also suggests the type of character that he is.. an extract from a NT paper reported the following:

The committee report said an invitation to appear at a 22 March hearing was sent to Tamboran on 1 March, but the company’s chief executive Joel Riddle responded that he wouldn’t be able to appear.

Tamboran was also invited on 11 March, but Riddle declined this too, according to correspondence shared in the committee’s report.

Further invitations were sent on 16 and 18 March, with Riddle replying the day before the hearing to say he was “absolutely entitled not to appear if we wish”.

“Many companies and individuals have not attended various parliamentary committee hearings in the past despite having been invited to do so,” Riddle wrote, according to the correspondence.

That day, the committee issued an order for Tamboran to appear at a 25 March hearing.

The committee said it did not received a response, and Tamboran did not attend that hearing. Hanson-Young called it “unacceptable” that Tamboran had “refused” to attend the committee, sharing her “strong dissatisfaction” and claiming the actions may constitute contempt of the Senate.

“The committee considers it unacceptable that Tamboran, a publicly listed company, whose subsidiary has received a multi-million-dollar grant of taxpayer money, has refused to appear and answer questions in relation to its petroleum exploration activities in the Beetaloo Basin,” she wrote.

I would be concerned about getting into a partnership with Riddle in charge and if it is true that FOG was not consulted, then I would think that POQ should rightly feel the same way too.

Thanks WW, I hear you and I'm with you all the way, I hope POQ can cunjoir up some of his old magic again!

Thanks Schlemiel, very interesting.. Here is the rest of the article you've made reference to. ..

“Origin has previously stated a farm-down process is under-way relating to its interest in the Beetaloo, and has held discussions with several parties in recent months encompassing a range of potential outcomes,” Origin’s spokesperson said on Wednesday night.

“No transaction relating to this process has been concluded.”

The talks also comes as Origin also confirmed last month that it was not close to any decision to develop the Northern Territory gas deposit, and it would exclude the venture from its 2030 emission reduction targets.

It would be a huge deal for Tamboran, which has proved to be an ambitious gas junior since listing on the ASX-boards mid last year. The company with a $144 million market capitalisation owns unconventional gas resources in the Northern Territory, also in the Beetaloo.

Its potential deal comes only 10 months after it secured Bryan Sheffield, a big name in the US oil and gas sector, as a cornerstone investor. Sheffield tipped $20 million into the company for a 7.5 per cent stake via his Sheffield Holdings LP, in a raising overseen by stockbroker MST.

Tamboran increases EP 161 2C contingent gas resources by 164%
Highlights
• Tamboran has increased its estimate of EP 161 (Santos 75% operator, Tamboran 25%) contingent
gas resources following a review of extended production test data from Tanumbirini 2H (T2H) and 3H (T3H), an updated development strategy and additional data supporting reservoir continuity.
• The upgrade has been evaluated and certified by leading independent third-party resources
certifier, Netherland, Sewell & Associates, Inc. (NSAI)(1).
• EP 161 unrisked gross 1C contingent gas resources has increased 73 per cent to 330 billion cubic feet (BCF) (83 BCF net to Tamboran)(2).
• EP 161 unrisked gross 2C contingent gas resources has increased 164 per cent to 1.6 trillion
cubic feet (TCF) (404 BCF net to Tamboran)(2).
• The current 2C contingent gas resources cover approximately 74 square kilometres, which
represents less than 4 per cent of the EP 161 prospective acreage, in which Tamboran has net
best estimate of prospective resources (2U) of ~12.4 TCF.
Tamboran Resources Limited (ASX: TBN) Managing Director and CEO, Joel Riddle, said:
"The recent successful flow results from the T2H and T3H wells following the installation of production tubing have demonstrated the commercial potential of the Beetaloo Basin and an active hydrocarbon system within the EP 161 permit.
“These extended production tests, an updated development strategy, which includes drilling 3000-metre horizontal wells, and additional data supporting the reservoir continuity of the Mid-Velkerri ‘C Shale’ have led to a 73 per cent increase in Tamboran’s estimate of unrisked 1C contingent gas resources to 83 BCF (net to Tamboran) and a 164 per cent increase in unrisked 2C contingent gas resources to 404 BCF (net to Tamboran). “Importantly, the area over which these 2C contingent gas resources have been booked covers less than 4 per cent per cent of the prospective acreage within EP 161, over which Tamboran has booked 2U net prospective gas resources of 12.4 TCF, as certified by NSAI.