Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
The market is out there. Hopefully next drilling some decent results.
“Gas Is Here to Stay for Decades, Say Fossil Fuel Heavyweights
Shell, Chevron see gas as more than a short-term transition
China buys LNG into 2050s, while US keeps building new plants“
https://twitter.com/climate/status/1672651872149069824?s=20
“Bloomberg Green
@climate
·
The idea of peak gas is rapidly disappearing, with big oil now saying much more is needed for the green transition”
Most news items are about Shell and BP.
“ Australia's sole newbuild liquefaction proposal has now penned offtake memorandums of understanding (MOUs) with BP and Shell, giving a boost to the long-stalled LNG buildout prospects Down Under.
Tamboran Resources proposed this month its 6.6 million ton per year Northern Territory LNG (NTLNG) export project in the Middle Arm Sustainable Development Precinct, an industrial area that is already home to the Ichthys and Darwin LNG export facilities.
The project, Australia's 11th liquefaction plant, would bring the country's nameplate liquefaction capacity from 87.8 million tons/yr to 97.1 million-99.6 million tons/yr, depending on North West Shelf capacity.
Rapid Acceleration
The MOUs cover the purchase of up to 2.2 million tons/yr of LNG for each of BP and Shell over a 20-year period, representing about two-thirds of total expected plant output.
“BP and Shell are two of the world’s largest LNG portfolio trading and energy companies and provide important and credible counterparties for Tamboran to progress financing discussions to support the sanctioning of the NTLNG project," said Tamboran Managing Director and CEO Joel Riddle.
The LNG developer intends to progress discussions with both European majors ahead of completing front-end engineering and design work on the plant next year, with finalized LNG sale and purchase agreements ideally in place in 2025.
Riddle applauded Tamboran's potential offtake partners for showing "significant support" for the project through "accelerated discussions" — efforts he suggested were rooted in serving critical LNG demand growth markets in the wider Asia-Pacific region.
NTLNG is the swift culmination of plans to expand liquefaction capacity in the Northern Territory after the regional government opened the door to shale gas fracking in the Beetaloo Basin last month. Tamboran is the largest acreage holder and operator in the Beetaloo, with about 1.9 million net acres to its name.”
https://www.energyintel.com/00000188-e877-d210-a9e8-eeffd4530000
Couple days and then we know how they are gonna fund the next wells.
“23 June 2023
The Manager
ASX Market Announcements Office ASX Limited
Exchange Centre
20 Bridge Street
Sydney NSW 2000
Via email: Companies_Sydney@asx.com.au
Tamboran Resources Limited (ASX: TBN) – Request for Trading Halt
Tamboran Resources Limited (ASX: TBN) (Tamboran) requests an immediate halt in the trading of its securities under ASX Listing Rule 17.1, for the purpose of considering, planning and executing a capital raising (Capital Raising).
In accordance with ASX Listing Rule 17.1, Tamboran provides the following information regarding this request:
• Tamboran requests that the trading halt remain in place until the earlier of commencement of normal trading on Tuesday 27th June 2023 and when the anticipated announcement regarding the Capital Raising is released to the market, whichever is the earlier;
• the event that Tamboran expects will end the trading halt is the announcement referred to in paragraph 1 above; and
• Tamboran is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt.
This request has been authorised by the Board.”
Https://youtu.be/tScHoNenqas
Q&A falcon 22 june
Https://hotcopper.com.au/threads/news-tbn-update-1-australias-tamboran-signs-deals-to-supply-lng-to-bp-and-shell.7443835/
https://hotcopper.com.au/threads/news-tbn-tamboran-resources-selects-apa-group-as-preferred-beetaloo-basin-pipeline-partner.7443841/
“Results from Tanumbirini flow tests
Modelling of the Tanumbirini flow tests, conducted by independent third-party subsurface experts, Subsurface Dynamics, Inc., demonstrates EURs in-line with Tier 1 and Tier 2 Marcellus Basin acreage in the US. The two wells, which were drilled in the deepest regions of Mid Velkerri “B Shale” in the Beetaloo Basin (true vertical depth of more than 3,400 metres), were deemed to have achieved commercial flow rates in 2022.
The modelling has demonstrated that T3H is capable of delivering a 20-year EUR of approximately 6.1 BCF per 1,000-metrehorizontal section. This implies 20-year EUR per well of approximately 18.5 BCF for a potential 3,000 metres1 Beetaloo Basin development well. Being the first two wells drilled in the deeper ‘Core’ Beetaloo Basin, Tamboran believes that significant improvement in flow rate and EURs can be established with application of learnings to optimise stimulation design.
The T2H and T3H wells achieved 90-day initial production (IP90) flow rates from the Mid Velkerri “B Shale” of 1.6 mmscfd over a 660-metre completed horizontal section (normalised at 2.4 mmscfd over 1,000- metres) and 2.1 mmscfd over a 600-metre completed horizontal section (normalised at 3.5 mmscfd over 1,000-metres) respectively, following the installation of production tubing in August 2022.”
Tamboran Resources Limited (ASX: TBN) Managing Director and CEO, Joel Riddle, said:
“The A2H well is only the sixth horizontal well drilled and stimulated to date in the Beetaloo Basin and we continue to take each well as a learning opportunity. The well was successfully drilled with an increase in stimulated stages and proppant compared to the Amungee NW1H well, located on the same well pad. We believe the initial results from the A2H well are not indicative of the underlying production potential of the Mid Velkerri 'B Shale' in the Amungee area.
“Modelling of the well rates and independent third-party testing of fluids recovered from the well identified potential skin that seems to be inhibiting flow from the well. Despite the potential skin, the well is still delivering approximately 0.83 mmscfd, with tracer data showing a good distribution of flows across the entire stimulated section. The Beetaloo JV are currently assessing clean-up options with plans to undertake a clean-up campaign during the third quarter of 2023.
“Lessons learned from the four wells drilled and stimulated to date in across Tamboran's Beetaloo Basin permits will be incorporated into the proposed upcoming two-well drilling program. The program includes drilling the SS1H well in the deeper EP 117 acreage and the A3H well in the Amungee region, with operations commencing during the third quarter of 2023.
“The decision for the SS1H well location follows analysis of the Tanumbirini wells in the Santos-operated EP 161 permit, which showed Marcellus Basin production type-curves from the wells drilled in the Tanumbirini area. Specifically, at T3H, which has demonstrated a 20-year EUR of approximately 18.5 BCF for a future proposed 3,000-metre development well.
“This result demonstrates the enormous productivity within the deeper regions of the Beetaloo Basin and gives us confidence that improved results can be achieved at SS1H.
“On completion of flow testing at SS1H and A3H, and clean-up activities at A2H, the BJV will assess the performance and productivity of each region ahead of a potential sanctioning of a Flare Avoidance Project or pilot development, which could accelerate gas sales into the tightening NT Gas market.”
Available in 13 minutes
https://hotcopper.com.au/threads/ann-ep-161-flow-test-analysis-of-tanumbirini-wells.7443160/
https://hotcopper.com.au/threads/ann-ep-98-amungee-2h-interim-flow-rates-and-forward-program.7443151/
Hopefully we get some better results as a Christmas present and they can start selling gas in 2024. Potential costumers are waiting:
“ PWC chair Peter Wilson told a budget estimates committee this week the corporation had "active discussions" with Beetaloo gas companies Empire Energy and Tamboran Resources about "enabling that supply to come to Darwin".
"We have problems with Eni … but the longer-term prospects for gas supply with Beetaloo are very strong," Mr Wilson said.”
https://amp.abc.net.au/article/102512580
“Formation Damage and skin factor“
https://youtu.be/imJgoKkvgR4
Was looking on the internet. Came across this. Is this about the problem they have encountered?
“Choked Fracture Skin
Effective Wellbore Radius
Pressure Drop Due to Skin
Skin Across the Fault
Skin Due to Damage
Skin Due to Inclination
Skin Due to Partial Penetration
Skin Due to Turbulence
Skin Due to Xf
Skin on Fracture Face
Total Skin
Two-Phase Skin“
https://www.ihsenergy.ca/support/documentation_ca/WellTest/content/html_files/reference_materials/skin.htm#Total_Skin(s)
“ Santos needs Middle Arm to go ahead because it is central to the viability of its planned CCS project, and the CCS project is essential to gaining approval for its gas developments in the NT.
The Middle Arm funding, secured by Dragoman’s lobbying, may mean there is already too much invested financially for any of these interrelated gas projects to be stopped and that viability depends on them all proceeding.
Companies associated with Liveris and Dragoman stand to be the big winners.
Worley has already won a contract to design and build Santos’s CCS plant. Environmentalists believe Saudi Aramco could also emerge as a key player in the NT gas expansion.”
“Former politicians and executives have propelled the Northern Territory’s Middle Arm hub from dream to likely realisation”
https://amp.theguardian.com/australia-news/2023/jun/19/revealed-documents-detail-key-players-behind-vast-australian-fossil-fuel-expansion
Another news item to watch while waiting.
“Joel Riddle, MD & CEO of $TBN.AX speaks with
@SkyNews
about the proposed LNG Development at the Middle Arm Sustainable Development Precinct.
#TBN targeting first LNG production by 2030, to ensure Australia’s NT & East Coast #gas markets are well supplied“
https://twitter.com/Tamboran_TBN/status/1669193121115041794?s=20