leadf
logo-loader
viewFalcon Oil & Gas Ltd

Falcon Oil & Gas looks forward to Kyalla production test

Preparations are now underway to ring the well into an extended production test.

Falcon Oil & Gas Ltd - Falcon Oil & Gas looks forward to Kyalla production test

Falcon Oil & Gas Ltd (LON:FOG) told investors that an 11-stage hydraulic stimulation programme has been completed at part of the Beetaloo shale project in Australia’s Northern Territory.

The 11 stages were carried out along the well’s 1,579-metre horizontal section in the Lower Kyalla formation.

READ: Kyalla well operations resume at Beetaloo

The well is now being prepared for flowback and an extended production test, with early-stage gas flow rates expected to be available in the coming weeks.

“We look forward to the next phase of operations with the production testing of the Kyalla 117 well and will update the market as results become available,” said Falcon chief executive Philip Quigley.

Kyalla 117 was drilled successfully in February - confirming good reservoir continuity, conductive natural fractures and continuous gas shows – before operations were suspended in March due to the coronavirus (COVID-19) pandemic.

Well operations resumed in mid-September. The exploration project is led by Australian firm Origin Energy.

Falcon retains 22.5% of the project.

Quick facts: Falcon Oil & Gas Ltd

Price: 7.8 GBX

AIM:FOG
Market: AIM
Market Cap: £76.58 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Falcon Oil & Gas Ltd named herein, including the promotion by the Company of Falcon Oil & Gas Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Morning Report: FTSE 100 rises for second day on optimism spread of virus in...

The FTSE 100 is expected to rise for a second day on growing optimism that the spread of coronavirus in Europe in slowing. Wall Street jumped 7.7% overnight while Asian markets were also higher. WH Smith has raised £166mln from a placing. The price was at a 4% discount to the last...

on 7/4/20

2 min read