Falcon Oil & Gas Ltd (LON:FOG, CVE:FO) told investors that the Beetaloo joint venture partners have decided to carry out necessary intervention work in the recently drilled Kyalla 117 well without delay.
As previously announced in November, the well had continued to produce frack fluid during a prolonged ‘flowback’ phase and a measurable gas breakthrough had yet to occur.
The partners planned to re-enter the well to apply nitrogen lift, which would lower pressure in the well bore and expedite gas breakthrough, however, prior to the onset of the Australian wet season the schedule had not been determined.
Today, Falcon confirms that the programme will be undertaken without delay. All necessary equipment and consumables for the nitrogen lift are now being prepared to mobilise to the well site.
“The decision to execute operations without delay is really good news and we look forward to updating the market as information from operations is available,” said Philip O’Quigley, Falcon chief executive.