Capital raised via the US IPO is expected to fund Tamboran's activity in the Beetaloo basin, including delivering production from the proposed Shenandoah South pilot project.Tamboran is targeting a final investment decision (FID) following completion of the IPO in mid-2024.7 May 2024
Here are the summarised plans for Tamboran Resources Limited's drilling activities in 2024:
Tamboran's Drilling Plans for 2024
1. **Development Wells**:
- **Number of Wells**: Tamboran plans to drill two 3,000m (10,000ft) development wells.
- **Location**: Shenandoah South.
- **Production Estimate**: These wells are expected to produce approximately 19 mmcf/d on an IP30 (initial production over 30 days) basis.
2. **Pilot Development**:
- **Target**: Aiming for a pilot development of 40 mmcf/d at Shenandoah South.
- **Purpose**: To supply the Northern Territory gas market by H1 2026.
3. **Project Timeline**:
- **FID (Final Investment Decision)**: Expected around mid-2024.
- **Preparation**: Includes finalising a binding Gas Sales Agreement, constructing the necessary midstream infrastructure, securing funding, and obtaining key stakeholder approvals by mid-2025.
4. **Infrastructure**:
- **Facilities**: Includes a 40 mmcf/d gas compression facility.
- **Pipeline**: Construction of a 35 km pipeline to connect to the Amadeus Gas Pipeline.
These drilling plans reflect Tamboran's strategic focus on expanding its production capabilities and infrastructure to support significant gas supply to the Northern Territory market.
TBN Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
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