Falcon Oil & Gas Ltd Reports Exceptional IP60 Flow Test Results
Falcon Oil & Gas Ltd, trading as TSXV: FO and AIM: FOG, recently achieved remarkable results in flow testing from its Shenandoah S2-2H ST1 well, achieving an impressive average IP60 flow rate of 6.8 million cubic feet per day (MMcf/d). This achievement, recorded over a 60-day period, marks the highest initial production flow rate noted in the Beetaloo Sub-basin. The well only spans a horizontal distance of 1,671 meters and includes 35 stages of stimulation.
Details of the Flow Test Achievements
The flow rate is notable when compared to the 12.4 MMcf/d average that aligns with typical productivity rates from over 11,000 wells in the Marcellus Shale. This consistent performance indicates not only the potential for profitability but also the ability to meet the demands of the Australian domestic gas market, which often sells product at a premium compared to other markets globally.
Key Highlights from the Flow Test
- The average exit rate remains stable at 6.4 MMcf/d, and the well has maintained a flowing pressure of approximately 720 psi. This performance has notably exhibited less decline compared to the Shenandoah South 1H well over the same timeframe.
- Falcon has provided additional details on the SS-2H ST1 flow test results showcasing a strong resource potential in the Beetaloo region, confirming with further tests anticipated to reflect similar positive results.
Plans for the 2025 Drilling Campaign
In light of the ongoing success, Falcon Oil & Gas has initiated its 2025 drilling campaign targeting three additional 10,000-foot horizontal wells to be drilled consecutively over the next several months. These wells are expected to finalize the drilling phase of the broader Shenandoah South pilot program.
Drilling Campaign Insights
- Importantly, Falcon Oil & Gas Australia Limited has strategically reduced its participating interest in these three wells to 0%, thus incurring no financial exposure during this upcoming phase.
- The company anticipates that the 2025 drilling campaign could yield further evidence of commercial viability, helping to substantiate the Beetaloo's resource potential.
Insight from Leadership
Falcon's CEO, Philip O’Quigley, expressed excitement about the significant IP60 results, noting they highlight the well’s performance as comparable to leading shale discoveries in the United States. The successful flow rate exceeding their pre-drill benchmarks suggests a promising future for the Beetaloo Sub-basin.
“We are enthusiastic about the 2025 campaign, which stands as the largest drilling initiative in the Beetaloo to date, reinforcing our commitment to confirming the extensive resource potential of this region,” O’Quigley remarked.
Contact Information
If you wish to contact Falcon Oil & Gas Ltd for more information, here are the details:
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
About Falcon Oil & Gas Ltd
Falcon Oil & Gas Ltd is engaged in the exploration and development of unconventional oil and gas assets, primarily in Australia. The company is incorporated in British Columbia, Canada, and has its headquarters in Dublin, Ireland. Falcon Oil & Gas Australia Limited operates as a subsidiary under Falcon Oil & Gas Ltd.
Frequently Asked Questions
What is the significance of the 6.8 MMcf/d flow rate?
The 6.8 MMcf/d flow rate marks a record in the Beetaloo Sub-basin, indicating strong gas deliverability and commercial potential in the region.
What are the main goals of the 2025 drilling campaign?
The campaign aims to drill three additional wells, aiming to validate the resource potential of the Beetaloo and expand Falcon's operational footprint.
How has Falcon Oil & Gas's participation changed for the upcoming wells?
Falcon Oil & Gas Australia Limited has opted to reduce its interest to 0%, thereby minimizing financial risks in these new drilling ventures.
What are the future expectations for the Beetaloo Sub-basin?
With successful results and ongoing drilling campaigns, the Beetaloo is expected to become a significant contributor to the gas supply in the Australian market.
Where can I find more information about Falcon Oil & Gas?
More information is available on Falcon Oil & Gas’s official website, helping investors stay updated with the latest company news and updates.
