Completely agree Fish. The ex-Parsley team are planning way...

Completely agree Fish. The ex-Parsley team are planning way ahead. It’s all about access to capital at scale. Starting with TBN, cutting up the Beetaloo into small land parcels is far-sighted. This will also incentivise pipeline and LNG investments.

Falcon and Empire will end up agreeing to checkerboard DSUs to gain access to capital plus the Texans’ rigs and frac fleets.

Sheffield’s ORRI from TBN, Empire and Falcon means that he (and his mates) will be paid over 2% of gross revenue from the Beetaloo for decades.

Deal of the century!

The Marcellus Shale (100,000 sq ml), the largest gas shale play in North America, contributes one-third of the total United States shale gas production, producing more than 25 BCF of natural gas per day. So far, the Marcellus has produced 50 TCF of natural gas, equivalent to 8.3 billion bbl of oil.

The Beetaloo Sub-basin covers 28,000 square kilometres and is estimated to contain 500 TCF of gas (P50 gas-in-place resource as estimated by industry). That is just for the Velkerri B layer and does not include other known gas bearing geological layers.

So the Texans could be paid over 2% of trillions of dollars for decades.