Tamboran Resources Partners with Santos for LNG Expansion
Exploring New Horizons in LNG Expansion
Tamboran Resources Corporation is on an exciting journey as it partners with Santos to explore new opportunities in the expansion of the Darwin Liquefied Natural Gas (DLNG) facility. This collaboration aims to assess the commercialization pathways for DLNG Train 2, utilizing the vast prospective gas resources found within the Beetaloo Basin. The management team at Tamboran, led by Managing Director and CEO Joel Riddle, sees immense potential in this venture.
Significant Resources Await in the Beetaloo Basin
The Beetaloo Basin, covering approximately two million net prospective acres, features substantial gas resources. Tamboran holds an enviable position with the potential to supply natural gas to both the Northern Territory and Australia’s east coast gas market for many years. The company is strategically poised to explore multiple commercialization routes, including liquefied natural gas markets at key locations like Darwin and Gladstone.
As a company committed to enriching shareholder value, Tamboran is keen to identify ways to expedite its operations. The fruitful long-term relationship with Santos, particularly in the EP 161 acreage—home to the Beetaloo East area—since the last decade reinforces the strength of this partnership.
The Beetaloo East Promise
At the heart of the Beetaloo Basin's chase for shale gas lies the Beetaloo East region. Tamboran believes that the shale formations in this area match the high-quality shale characteristics successfully harnessed in the Shenandoah South region located in Beetaloo West. Notably, the Tanumbirini wells, drilled and tested last year, were the first in the Basin to exhibit decline curves akin to those in the renowned Marcellus Basin, showcasing the area's potential.
Collaboration for Future Gains
Looking ahead, Tamboran is enthusiastic about continuing discussions with Santos to tap into this significant shale gas resource. The expansion of DLNG in Darwin stands to provide numerous benefits, including generating revenue for the Northern Territory Government and creating job opportunities for local communities and Native Title Holders in the region.
Key Interests in the EP 161 Acreage
The collaboration between Tamboran and Santos in the EP 161 acreage reflects their shared commitment to responsible resource management. Santos QNT Pty Ltd holds a 75% interest in this location, while Tamboran Resources Corporation retains a 25% interest. This partnership underscores a combined total that represents significant collective investment in the region, indicating a strong belief in the potential of the Beetaloo Shale.
About Tamboran Resources Corporation
Tamboran Resources Corporation, through its subsidiaries, stands as a cornerstone company in the Beetaloo Sub-basin, with approximately 1.9 million net prospective acres under management. As the largest acreage holder and operator in this fertile area of the Greater McArthur Basin, Tamboran’s strategic operations reflect an impressive commitment to exploration and sustainability. The company boasts of a 38.75% working interest and operatorship in three exploration permits – EPs 98, 117, and 76. It also holds a 25% non-operated working interest in EP 161 and a 100% interest in EP 136, affirming its strong presence in the area.
Frequently Asked Questions
What is the purpose of the MOU between Tamboran and Santos?
The MOU aims to explore commercialization options for expanding the Darwin LNG facility using gas from the Beetaloo Basin.
What resources does Tamboran hold in the Beetaloo Basin?
Tamboran Resources has access to approximately two million net prospective acres and several working interests in exploration permits in the Beetaloo Basin.
How does the partnership benefit local communities?
This collaboration is expected to yield job opportunities and royalties for local communities, particularly the Native Title Holders in the region.
What is the significance of the Tanumbirini wells?
The Tanumbirini wells were notable for demonstrating Marcellus Basin-style decline curves, highlighting the Beetaloo Basin's potential for gas production.
How long has Tamboran been partnered with Santos?
Tamboran and Santos have been partners in the EP 161 acreage for over a decade, demonstrating a strong and collaborative relationship in exploring natural gas resources.
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