Core Insights - Falcon Oil & Gas Ltd has successfully completed the stimulation program for the Shenandoah South SS2-1H well, marking a significant milestone for the joint venture partners [2][4] - The company anticipates a busy 2026 with three additional wells planned for stimulation in the first half of the year and gas sales expected to commence shortly thereafter [4] Stimulation Program Details - The SS2-1H well stimulation involved 58 stages across a horizontal section of approximately 3,050 meters, with an average proppant intensity of 2,206 pounds per foot [7] - Wellhead injection rates consistently exceeded 100 barrels per minute, utilizing modern stimulation equipment from Liberty Energy [7] - Adjustments in the stimulation design increased stage spacing from approximately 50 meters to 60 meters, which is expected to reduce costs in future programs [7] Production Expectations - Following the completion of the well with tubing, a 30-day soaking period will precede a 30-day flow test, with initial production rates expected in the first quarter of 2026 [7] - In the first half of 2026, three wells, including the second well from the 2024 drilling campaign, are expected to be stimulated ahead of gas sales [7] Joint Venture Structure - Falcon Oil & Gas Australia Limited holds a 22.5% interest in the Beetaloo joint venture, while Tamboran (B2) Pty Limited holds 77.5% [10] - In the Shenandoah South Pilot Project, Falcon's interest is reduced to 5.0%, with Tamboran holding 95.0% [11] Future Developments - The definitive agreement between Falcon and Tamboran Resources Corporation is progressing and is expected to close in the first quarter of 2026 [4] - All wells in the Shenandoah South Pilot Project are projected to deliver the contracted volume of 40 million cubic feet per day under the Gas Sales Agreement with the Northern Territory Government, subject to weather conditions and final approvals [7]
Falcon Oil & Gas Ltd. - Beetaloo Sub-basin - Completion of the SS2-1H well stimulation program