Page 10 - AsianOil Week 02 2021
P. 10

AsianOil                                         OCEANIA                                             AsianOil




       Australia backs





       Beetaloo development






       The government has unveiled a new round of funding geared
       at speeding up the country’s development of shale gas




        COMMENTARY       THE Australian government has announced  to promote gas production and consumption as
                         plans to provide additional funding that is  a means to reinvigorate the national economy
                         geared towards speeding up the development of  in the wake of the coronavirus (COVID-19)
       WHAT:             the Northern Territory’s shale gas resources.  pandemic.
       Australia will invest   Following its announcement last month   As such, the government has a good deal rid-
       $167.9mn in upgrading   that it would provide more than AUD50mn  ing on the play’s success.
       roads in the NT.  ($38.7mn) in grants for exploration drilling in  Road upgrades
                         the Beetaloo Sub-basin, the government said  Federal Minister for Resources, Water and
       WHY:              this week that it now intends to provide an  Northern Australia Keith Pitt announced on
       Upgraded roads will   additional AUD217mn ($167.9mn) in funding  January 14 that additional federal funding would
       make drilling operations   for road upgrades that should ease the basin’s  be provided for the new Northern Territory Gas
       and logistics easier to   development.                 Industry Roads Upgrades corridor.
       manage.             Although the Beetaloo has drummed up   The road upgrades plan is part of the Can-
                         a great deal of excitement in recent months,  berra’s Beetaloo Strategic Basin Plan, which
       WHAT NEXT:        thanks to promising results from a Santos-op-  also includes the aforementioned exploration
       Several exploration   erated vertical well in the basin, the play is still  grants announced on December 17. Pitt said last
       and appraisal wells are   relatively undeveloped. For example, more wells  month that the government would contribute up
       planned for the Beetaloo   are slated for drilling this year than have been  to A$7.5mn per well, capped at three wells per
       this year.        sunk over the last decade.           venture, before June 30, 2022. This year could see
                           The government hopes that the provision  as many as five Beetaloo wells drilled by Santos,
                         of early drilling grants, coupled with improve-  Tamboran Resources, Origin Energy, Falcon Oil
                         ments to site access, will remedy this situation.  & Gas and Empire Energy.
                         Canberra has picked Beetaloo as the first basin to   The decision to follow exploration grants
                         back directly as part of a wider national strategy  with transportation infrastructure upgrades




                            6 Wells Planned in the Beetaloo during 2020-21
                           Tamboran’s EP 136 block (100% interest) is positioned to be significantly derisked from 2021 drilling activity
                            Middle Velkerri Top                                     Key Well Result
                              Subsea M
                                -250                                                Planned
                                -750                                                2021 well
                                -1,250
                                -1,750
                                -2,250
                                -2,750
                                                         Origin/Falcon
                                                         Amungee NW-1H
                                                         Horizontal
                                                         Flow test (2016)      EP 161 Tanumbirini #1
                                                                               Discovery (2014)
                                       Origin/Falcon                                  EP 161
                                       Kyalla 117 N2                                  Tanumbirini #2H/
                                       horizontal well                                3H horizontal well
                                       (2019); frac                                   tests (2021)
                                       expected in 4Q
                                       2020                           Maverick #1     Empire Energy
                                                                                      Carpentaria #1
                                                                                      vertical well (4Q
                                                                                      2020)
                                                                      100%       Tamboran
                                                              Origin/Falcon      Tamboran  25%   Maverick #1
                                                              76-S2 horizontal   Tamboran  horizontal well
                                                              well test (2021)   (4Q 2021)




       P10                                      www. NEWSBASE .com                        Week 02   14•January•2021
   5   6   7   8   9   10   11   12   13   14   15