Falcon Oil & Gas Ltd Sets Record Gas Production in Beetaloo Sub-basin Operations
- Falcon Oil & Gas achieved the highest initial 60-day gas production rate in the Beetaloo Sub-basin at 6.8 MMcf/d.
- CEO Philip O'Quigley highlights strong resource potential and Falcon's competitive position among global shale gas producers.
- Falcon has initiated a 2025 drilling campaign while maintaining a 23% interest in the Beetaloo joint venture.
Falcon Oil & Gas Ltd Achieves Milestone in Beetaloo Sub-basin Operations
Falcon Oil & Gas Ltd announces a significant operational milestone at the Beetaloo Sub-basin in Australia’s Northern Territory, achieving the highest initial 60-day gas production rate recorded in the region. The Shenandoah S2-2H ST1 well has delivered an impressive average gas flow rate of 6.8 million cubic feet per day (MMcf/d) over a horizontal section measuring 1,671 meters. When normalized for a 10,000-foot section, this production rate equates to 12.4 MMcf/d, placing it on par with some of the leading shale gas wells in the United States, particularly those found in the Marcellus Shale.
Philip O'Quigley, CEO of Falcon, expresses optimism regarding these results, which have exceeded pre-drill commercial expectations. He emphasizes that such outcomes not only highlight the substantial resource potential of the Beetaloo Sub-basin but also reinforce Falcon’s competitive standing among top shale gas producers globally. The well demonstrates a low decline rate, currently producing at 6.4 MMcf/d with a flowing pressure of 720 psi, indicating robust reservoir performance and sustained output capabilities. This achievement marks a pivotal moment for Falcon Oil & Gas as it seeks to establish itself as a key player in the burgeoning Australian shale gas sector.
In line with this momentum, Falcon Oil & Gas has initiated its 2025 drilling campaign, which aims to include up to three 10,000-foot horizontal wells as part of the Shenandoah South pilot program. Notably, the company will not incur any costs for this phase of drilling, as it has previously opted to reduce its participation to zero. Despite this decision, Falcon retains a 23% interest in the broader Beetaloo joint venture and a 5% stake in the Shenandoah South pilot project, with the remainder of the interests held by Tamboran (B2). These strategic moves underscore Falcon's commitment to advancing its operations while managing financial exposure effectively.
In summary, Falcon Oil & Gas Ltd’s recent accomplishments at the Beetaloo Sub-basin not only set a new benchmark for gas production in the region but also signify a robust future for the company's operational strategies. The successful performance of the Shenandoah S2-2H ST1 well, coupled with the upcoming drilling initiatives, positions Falcon favorably within the competitive landscape of shale gas exploration and production in Australia.
