Falcon Oil completes stimulation of Shenandoah well

(Sharecast News) - Falcon Oil & Gas announced the completion of the stimulation of the Shenandoah S2-2H ST1 (SS-2H ST1) well in the Beetaloo Sub-basin of Australia's Northern Territory on Friday, in partnership with Tamboran B2. The AIM-traded firm said the operation involved 35 stimulation stages across a 1,671-metre horizontal section of the Amungee Member B-shale using modern stimulation equipment from Liberty Energy.

It said the well achieved five stages per 24-hour period on multiple days, with an average proppant intensity of 2,706 pounds per foot and wellhead injection rates exceeding 100 barrels per minute.

Stage spacing averaged 48 metres.

The SS-2H ST1 well would now proceed with clean-out activities before the start of initial flow back and extended production testing.

Falcon said it was planning to provide further updates on the completion of the Shenandoah South 4H (SS-4H) well in due course.

"We are extremely encouraged about the potential of the current stimulation programme based on strong gas shows and other data observed whilst drilling," said chief executive officer Philip O'Quigley.

"In addition, the experienced US operator, Liberty Energy, has shown the efficiencies they can achieve which will provide us with the greatest opportunity for the best possible outcomes from this stimulation program.

"We look forward to updating the market on the IP30 flow test results as soon as they become available."

At 1041 GMT, shares in Falcon Oil & Gas were up 16.86% at 7.48p.

Reporting by Josh White for Sharecast.com.