Update on Falcon Oil & Gas Ltd's Beetaloo Operations
Falcon Oil & Gas Ltd is excited to share significant updates regarding its operations in the Beetaloo Sub-basin. The company is actively engaged in a drilling campaign, and the collaboration with joint venture partner Tamboran (B2) Pty Limited is proving to be pivotal.
Current Drilling Campaign Progress
As of now, the first two wells of the 2025 campaign have been successfully drilled and cased, featuring impressive 3,000 meters horizontal sections (10,000 feet). This is a notable achievement as it marks the introduction of a multi-well drilling program that efficiently utilizes batch drilling techniques.
Upcoming Developments
The next major task involves rigging up on the third and final well, focusing on the drilling of the production hole and further horizontal sections. Plans are set for a comprehensive 60-stage stimulation across one of the newly drilled wells, with flow testing aimed for early in 2026 ahead of anticipated gas sales that will begin later that year.
Future Stimulation Plans
By the second quarter of 2026, post the wet season, Falcon plans to stimulate the remaining three wells which includes a well from the previous year’s drilling campaign. These wells are expected to meet the contractual obligations under the Gas Sales Agreement (GSA) with the Northern Territory Government.
Additional Highlights and Strategic Moves
In recent weeks, the BJV partners brokered an agreement with Native Title Holders aimed at minimizing flaring and obtained necessary consent for the sale of appraisal gas from the proposed Pilot Project over a three-year span. This dynamic cooperation has led to the Northern Territory Government giving its stamp of approval for the appraisal gas sales.
Investment in Infrastructure
The commitment to infrastructure is evident with construction underway for the A$140 million Sturt Plateau Compression Facility (SPCF). It’s noteworthy that Falcon has strategically opted for no cost exposure in this project.
The Northern Territory’s Pipeline Development
Additionally, work has started on the first-ever Beetaloo pipeline, with APA Group investing A$70 million in the development of the 37-kilometer Sturt Plateau Pipeline. Such infrastructure is critical to support the growing gas production in the region.
CEO Insights
Expressing enthusiasm about the progress, CEO Philip O’Quigley stated: "Our operations partner, Tamboran Resources, is executing the drilling campaign effectively. As we complete the second and third wells, we are confident about the impressive pace and strategy laid out for the forthcoming months. Updates will continue as our activities ramp up in this exciting phase.”
Frequently Asked Questions
What is the current status of the drilling campaign by Falcon Oil & Gas?
Two wells have been successfully drilled and are in the process of being cased, while work moves forward on the third well.
When are gas sales expected to begin?
Gas sales are projected to start in mid-2026 after the necessary production tests and well stimulations are completed.
Is Falcon Oil & Gas exposed to costs in the development of infrastructure?
No, Falcon has opted for no cost exposure regarding the construction of the Sturt Plateau Compression Facility.
What is the significance of the agreements with Native Title Holders?
The agreements facilitate gas production and sale by minimizing flaring, thereby supporting environmental commitments and operational efficiency.
Who are the primary partners in the Beetaloo joint venture?
The primary partners are Falcon Oil & Gas Australia Limited, holding a 22.5% interest, and Tamboran (B2) Pty Limited, holding a 77.5% interest.
