88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has agreed a deal to further expand its portfolio on non-operated wells in Texas, adding a 64.4% interest in around 1,262 of net acres with the potential to substantially increase production volumes.
The newly acquired acreage is already host to nine ‘low-producing’ wells, and, ten field development opportunities.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has revealed that the initial production from the Slawson-operated wells has surpassed expectations, boosting significantly the firm’s production volumes.
The company, in a statement, said that the Slawson wells, part of its non-operated asset portfolio in the Williston Basin, North Dakota, have averaged a flow rate of 897 barrels oil equivalent per day (boepd) net to Zephyr.
Tamboran Resources Ltd (OTC:TBNRF) has entered into a strategic partnership and received a US$10 million (A$15.2 million) equity investment from Liberty Energy Inc. a leading NYSE-listed North American energy services firm.
Under the strategic partnership, Liberty plans to import a modern frac fleet into the Beetaloo Basin in 2024 to support the stimulation campaign for Tamboran’s proposed 40 million cubic feet per day Shenandoah South Pilot Project, for which production is planned to commence in 2026.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) told investors that the replacement equipment for its rig is now in Tanzania and is due to arrive at the Itumbula well site today.
The company, in a statement, said the replacement iron rough neck will be installed immediately and once the part is installed, the team will ‘rig up’ for an anticipated spud of the well in January.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has expanded its footprint in Alaska, picking up some 66,240 additional acres on the North Slope.
The new acreage covers substantially all of the anticipated remaining conventional reservoir potential in the Kodiak Field.
Tamboran Resources Ltd (OTC:TBNRF) has embarked on an equity raise that aims to secure around A$28 million.
This capital injection includes a strategic placement of A$15 million (US$10 million) from Liberty Energy, which will mark a milestone in the company’s growth trajectory.