Beetaloo Energy has reported encouraging operational progress across its flagship Beetaloo Basin project, with flow testing at the Carpentaria-5H well continuing to deliver strong results ahead of planned first gas production later this year.
The company said flow testing is underway at Carpentaria-5H, achieving a peak production rate of more than 14 terajoules (TJ) of gas per day, with an average rate of 7 TJ/day and a current sustained flow rate of about 6.7 TJ/day. The well has recorded only a modest decline in production, while continuing to improve as testing progresses.
According to Beetaloo Energy, the well is producing less water over time, with a more gas-dominated flow profile. The company said these trends indicate the well is accessing a progressively larger portion of the reservoir.
Beetaloo Energy expects to report its IP30 production rate by mid-July.
Construction of the Carpentaria Gas Plant is also progressing as planned, with the company reporting the project remains incident-free, on schedule and within budget. First gas sales from the Pilot Project remain targeted for the fourth quarter of 2026.
Elsewhere, seismic acquisition has commenced across exploration permits EP167 and EP168 in the western Beetaloo Basin as the company advances its exploration program.
Beetaloo Energy also confirmed it has finalised long-form documentation with Territory Sands following an agreement announced in April. The partnership is expected to support development of the first in-basin frac sand mine, aimed at supplying future hydraulic fracturing operations in the Beetaloo Basin.
The company said it has satisfied all conditions precedent under its Macquarie Midstream Infrastructure financing facility and has completed its initial drawdown. Beetaloo Energy finished the reporting period with cash reserves of $63.2 million.