Tamboran Resources has increased its Beetaloo Basin, in the Northern Territory (NT), contingent gas resources, following the drilling of the Maverick 1V (M1V) well.
The company increased its total unrisked 1C contingent gas resources by 37 per cent to 458 billion cubic feet (BCF) and unrisked 2C conteingent gas resources by 32 per cent to 2 trillion cubic feet (TCF).
The revised contingent gas resources don’t incorporate results from the recently drilled Shenandoah South 1H well (SS1H) in EP 117.
According to Tamboran, the company plans to evaluate the resources surrounding this well following flow testing, set to take place in early 2024.
Tamboran managing director and chief executive officer Joel Riddle said the increase in resources showcases the company’s position in the Beetaloo Basin.
“Our strategic focus remains on the western region of the Basin, where the SS1H well has successfully intersected the Mid Velkerri at depth and in close proximity to the Amadeus Gas Pipeline,” Riddle said.
“This strategic positioning is expected to support a potential accelerate production to supply natural gas to the Northern Territory market.
“This is particularly critical given recent production declines from the offshore Blacktip gas field, which is expected to impact the region’s gas supply.”
Subscribe to Energy Today for the latest project and industry news.