Tamboran Resources Ltd (ASX:TBN) has spudded Tanumbirini 3H Well (T3H), a natural gas asset that forms part of the EP 161 exploration permit in the Northern Territory’s Beetaloo Sub-basin, ahead of schedule with the completion of the surface vertical hole section at 1,080 metres.
Before spudding T3H, the company completed a drilling hole at Tanumbirini 2H (T2H) Well with both targeted to be fracture stimulated and flow tested prior to year-end 2021.
Tamboran holds a 25% working interest in the EP 161 exploration permit and is the sole owner of the EP 136, EP 143 and EP(A) 197 tenements, which also sit within the Beetaloo Sub-basin.
Ahead of schedule
Tamboran managing director and CEO Joel Riddle said: “The T3H well in EP 161, operated by our joint venture partner Santos QNT Pty Ltd (Santos Ltd), was spudded on August 23 2021.
“The surface vertical hole section was completed at a depth of 1,080 metres and drilling in the intermediate vertical hole section is ahead of schedule.”
Future plans
Going ahead, Tamboran plans to drill the vertical and angle build section to approximately 3,800 metres, before drilling a horizontal section of around 1,000 metres in the primary target of the Mid-Velkerri ‘B’ shale.
After completing the drilling, the company plans to start fracture stimulating and flow testing at both wells before the end of the year.
Improving efficiencies
Riddle said: “Once we have completed drilling the vertical and angle build section to the primary target of the MidVelkerri ‘B’ shale, we plan to drill a horizontal section of approximately 1,000 metres.
“Similar to our experience in other unconventional shale basins in the US, the learnings and knowledge gained by the recent T2H well are playing a considerable role in improving drilling efficiencies and reducing costs.
“Following the drilling of the T3H horizontal section, both T2H and T3H wells will be fracture stimulated and flow tested, with results expected to be available before calendar year-end 2021.
“Our team will incorporate the learnings and information from T2H and T3H into the well design for Maverick 1H, the well that Tamboran intends to drill in EP 136, its 100% owned and operated permit, in 2022.”
Tamboran shares are 6.52% higher at 24.5 cents.