- Falcon Oil & Gas (FO) has released production log test results for its Amungee NW-1H well in Australia
- The PLT test results equate to a normalized gas flow rate of between 5.2-5.8 MMscf/d per 1,000 m of horizontal section
- The company believes the results place the Beetaloo Sub-basin on a level playing field with other shale gas basins in North America
- Falcon Oil & Gas is focused on assets in Australia, South Africa and Hungary
- Falcon Oil & Gas (FO) is up by 94.12 per cent and is currently trading at $0.165 per share
Falcon Oil & Gas (FO) has released production log test results for its Amungee NW-1H well in Australia.
The well was successfully put back on production testing on August 7, 2021.
Initial flow rates during the first 48 hours ranged between 2 – 4 MMscf/d with rates averaging 1.23 MMscf/d over the first 23 days.
PLT test results equate to a normalized gas flow rate of between 5.2-5.8 MMscf/d per 1,000 m of horizontal section.
PLT data confirms that 85-95 per cent of the production came from stages 8-11, which may be representative of the deliverability achievable within the Middle Velkerri B Shale at Amungee.
Philip O’Quigley, Falcon’s CEO, commented,
“With our unique and extensive position in the Beetaloo Sub-basin, this is really exciting news for Falcon shareholders and this significant development provides line of sight to the commercialization of the Beetaloo, for which we remain carried for further activity.
A recent report by an industry analyst suggests that gas flows greater than 3 MMscf/d from a 1,000 m horizontal well are required to demonstrate the commerciality of the Beetaloo. Not only does this test result significantly exceed these parameters and significantly increase our assessment of the Velkerri dry gas play, but it also puts the Beetaloo on par with other shale gas basins in North America.
While we wait for further news from our operations at Kyalla 117 N2-1H ST2 and Velkerri 76 S2-1, we look forward to working with our JV partner, Origin, in establishing the next phase of work on the Middle Velkerri B Shale.
With other drilling activity in neighbouring Santos-operated blocks targeting the Velkerri dry gas play, this is an important moment for the nationally significant Beetaloo Sub-basin.”
Falcon Oil & Gas is focused on assets in Australia, South Africa and Hungary.
Falcon Oil & Gas (FO) is up by 94.12 per cent and is currently trading at $0.165 per share as of 1:24 pm ET.
