Falcon Oil & Gas Ltd. Launches New Drilling Program
Falcon Oil & Gas Ltd. (“Falcon” or “Company”) is excited to announce a major milestone as it kicks off its 2024 drilling program with the spudding of the Shenandoah South 2H (“SS2H”) horizontal well. This operation is taking place in exploration permit 98, situated in the Beetaloo Sub-basin.
Overview of the Shenandoah South 2H Well
The SS2H well is being drilled using state-of-the-art equipment, specifically the H&P super-spec FlexRig® Flex 3 Rig. This rig features an impressive horizontal section of around 3,000 metres, targeting the Amungee Member B-shale at an estimated depth of 3,020 metres. Each well is expected to take approximately 30 days to complete, ensuring a rapid progression through the drilling process.
Next Steps in Drilling
Once the SS2H well is drilled, Falcon will immediately proceed to the Shenandoah South 3H (“SS3H”) well, which will be located at the same site. This smooth transition is intended to maximize operational efficiency as they prepare for the following stimulation programs.
Advanced Stimulation Techniques
For both wells, stimulation will employ up to 60 stages using the advanced Liberty Energy frac fleet. The team is currently mobilizing this fleet from the United States to Australia, utilizing modern technology to enhance efficiency. The capabilities of the Liberty fleet are expected to significantly increase the number of completed stages each day, leading to improved gas flows.
Projected Outcomes and Future Production
Initial flow test results from the SS2H and SS3H wells are expected in early 2025. Following testing, these wells will likely transition to production, contributing to the proposed Shenandoah South Pilot Project, which aims for an output of 40 million cubic feet per day (MMcf/d). Production is anticipated to commence by mid-2026, pending necessary stakeholder and regulatory approvals.
Importance of the Drilling Campaign
This dual well program represents a significant moment, poised to be the largest single campaign in the Beetaloo Sub-basin to date. Additionally, Falcon has exciting plans for an additional four well program scheduled for 2025, further advancing the objectives of the Shenandoah South Pilot Project, which seeks to provide the Northern Territory government with a reliable gas supply.
Company Participation Rate
In this ambitious project, Falcon Australia is participating with an elected interest of 5%. This involvement highlights Falcon's dedication to developing large-scale projects that benefit the broader energy landscape in the region.
Insights from the CEO
Philip O’Quigley, CEO of Falcon, expressed his excitement about the start of the SS2H well: “This drilling initiative marks an exhilarating next step in our efforts in the Beetaloo Sub-basin. Given the successes we’ve experienced, particularly with the Shenandoah South 1H well, we are optimistic about what this drilling phase will bring.” He also emphasized the significance of the advanced Liberty frac fleet in enhancing stimulation effectiveness.
Contact Information
For more information about Falcon Oil & Gas Ltd., please reach out:
Falcon Oil & Gas Ltd.
Phone: +353 1 676 8702
Philip O’Quigley, CEO
Phone: +353 87 814 7042
Anne Flynn, CFO
Phone: +353 1 676 9162
Frequently Asked Questions
What is Falcon Oil & Gas Ltd. known for?
Falcon Oil & Gas Ltd. specializes in the exploration and development of unconventional oil and gas assets, primarily in Australia.
Where is the Shenandoah South 2H well located?
The Shenandoah South 2H well is situated in the Beetaloo Sub-basin, specifically within exploration permit 98.
What technology is being used for the drilling process?
The drilling operation utilizes the H&P super-spec FlexRig® Flex 3 Rig, which is renowned for its efficiency and capabilities in horizontal drilling.
When are the flow test results expected?
Initial flow test results from both the SS2H and SS3H wells are anticipated in the first quarter of 2025.
What is the aim of the Shenandoah South Pilot Project?
The Shenandoah South Pilot Project aims to achieve a production rate of 40 million cubic feet per day, providing essential energy support to the Northern Territory government.
