Falcon Oil & Gas Ltd Secures Approval for Gas Sales
Falcon Oil & Gas Ltd. is thrilled to announce an important step forward in its gas sales. Recently, Falcon's joint venture partners reached a historic agreement with Native Title Holders and the Northern Land Council, allowing the sale of appraisal gas from Exploration Permits in the Beetaloo sub-basin.
Details of the Agreement
Under this agreement, Falcon’s partners are granted consent to sell appraisal gas from EP98 and EP117. The plan allows for the extraction of up to 60 terajoules of gas per day through the Shenandoah South Pilot Project over the next three years. This significant milestone reflects a strong commitment to realizing long-term production capabilities while addressing community relationships.
Energy Supply Commitment
The joint venture has already contracted an estimated 40 million cubic feet per day, securing supply to the Northern Territory Government until mid-2041. This arrangement is poised to enhance energy security for the region, demonstrating Falcon's dedication to contributing to local energy needs.
Sales Timeline and Production Goals
Falcon Oil & Gas and its partners anticipate that gas sales will commence during mid-2026. This is contingent upon favorable weather conditions and final approvals from stakeholders. Once operational, the Sturt Plateau Compression Facility will facilitate these sales, marking a new era of gas production.
Building Strong Community Relationships
Maintaining robust relationships with the Native Title Holders is pivotal for the Beetaloo JV partners. They are committed to providing financial benefits, training, and employment opportunities to the local community. This partnership approach is essential for sustainable development in the region, showing that the benefits extend well beyond gas production.
CEO Philip O'Quigley's Remarks
CEO Philip O'Quigley emphasized the significance of this agreement. He remarked, "This is a remarkable achievement for our operator, Tamboran B2, which is pioneering in securing the necessary Native Title Holder approval for gas sales in the legislated appraisal framework. We thank the Native Title Holders and the Northern Land Council for their invaluable support in this process."
Future Projects on the Horizon
The agreement not only paves the way for immediate gas sales but also sets the stage for future projects. As Falcon Oil & Gas continues its exploration and development endeavors, community engagement will remain at the forefront of its operational strategy.
Commitment to Sustainable Practices
Falcon Oil & Gas Ltd. emphasizes environmentally responsible practices throughout its operations. The company is dedicated to advancing sustainable development in the Beetaloo sub-basin, focusing on minimizing environmental impact while maximizing resource efficiency.
About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd. is an international oil and gas entity specializing in the exploration and development of unconventional oil and gas assets. Based in British Columbia, Canada, and headquartered in Dublin, Ireland, Falcon focuses its efforts on the vast resources in Australia.
Contact Information
For more inquiries about Falcon Oil & Gas Ltd., please reach out to:
Philip O'Quigley, CEO
Phone: +353 1 676 8702
Anne Flynn, CFO
Phone: +353 1 676 9162
Frequently Asked Questions
What is the main outcome of the agreement with Native Title Holders?
The main outcome is the approval for Falcon’s partners to sell appraisal gas from specific Exploration Permits, enhancing gas supply to the Northern Territory Government.
When will gas sales to the Northern Territory Government begin?
Gas sales are expected to commence mid-2026, dependent on weather conditions and necessary stakeholder approvals.
What is Falcon Oil & Gas’s commitment to the local community?
Falcon is committed to providing financial benefits, employment, and training opportunities to the Native Title Holders and the local community.
Who is CEO Philip O'Quigley?
Philip O'Quigley is the CEO of Falcon Oil & Gas Ltd., leading its operations and strategic initiatives in the context of gas exploration and production.
What is the focus of Falcon Oil & Gas Ltd.?
Falcon specializes in the exploration and development of unconventional oil and gas assets, particularly within Australia, and emphasizes sustainable practices in its operations.
