Tamboran Resources Ltd (ASX:TBN, OTC:TBNRF) CEO Joel Riddle tells Proactive the Shenandoah South 1H (SS1H) well at the Beetaloo Sub-Basin in the Northern Territory has intersected 90-metres of high-quality Mid Velkerri B Shale with strong dry gas shows. It represents the thickest section of Mid Velkerri B Shale seen in the Beetaloo Sub-basin to date. He says the new rig used at SS1H reached TD of the pilot hole in 21.5 days, drilling at 153 metres per day, a new record for wells drilled below 3,000 metres in the Beetaloo Sub-Basin. Tamboran will now begin drilling a 1,000-metre horizontal section within the shale formation ahead of a stimulation program of up to 10 stages over a 500-metre section, which is planned for the December quarter of 2023.
Preliminary observations suggest the rock properties continue to compare favourably to that of the Marcellus Shale in the US. The Marcellus is globally recognised as the most prolific shale basin in the world, with production exceeding 25 BCFD during 2022, Riddle said.
The Marcellus helped the northeastern United States achieve material greenhouse gas emission reductions as gas-fired power replaced coal-fired power across the region.
"We hope Australia can follow a similar pathway to decarbonisation, while supplying Australian families and industries with an affordable and secure energy resource.
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Tamboran Resources Ltd
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