Tamboran (ASX:TBN) has spud the Shenandoah South 2H (SS-2H) well in permit EP 98, officially kicking off its Shenandoah South Pilot Project (SSPP) drilling program in the NT.
Two wells will be drilled at the project, overlying the Beetaloo Basin in. Tamboran believes this will be the largest single campaign the basin has seen so far.
SS-2H is located three miles north of SS-1H and within the SSPP boundary envelope that sees Tamboran boast a 47.5% working interest in the project. The same pad from which SS-2H is being drilled will go towards the drilling of SS-3H.
The company will be targeting the Middle Velkerri B Shale at a depth of roughly 3km, a geological asset underpinning the NT’s Beetaloo Basin – which the NT government hopes can one day turn the state’s economic fortunes around.
The company expects flow tests to take place in the first three months of next year. Wells will be suspended after those tests towards – all cards in order – an intended H1 2026 production start.
To that end, the SS-2H and SS-3H wells will both include a 3km horizontal section with 60 fracking stimulation stages using a NYSE-listed company’s hardware, Liberty Energy.
“With the new Liberty stimulation equipment being mobilized from the US to Australia, we are eager to demonstrate the deliverability of the Mid Velkerri B Shale over the longer lateral sections with modern US completions equipment,” Tamboran CEO Joel Riddle said.
“The Liberty frac fleet is capable of materially increasing the stimulation intensity and completing more stages per day compared to the legacy stimulation fleets in Australia.”
Tamboran listed on the NYSE earlier this year to tap busier US markets for liquidity as part of its grand plan to develop the Beetaloo Basin. It listed at US$22/sh; currently, it’s sitting just under US$19/sh.
TBN last traded at 39cps.