Press

Falcon Oil & Gas - Four additional potential plays in the Beetaloo Basin, Australia

Posted by OilVoice Press - OilVoice

15-May-2018


Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG, ESM: FAC) is pleased to report that Origin Energy Limited ("Origin") presented a technical paper, headlined - "Australia's premier shale basin: 5 plays 1,000,000,000 years in the making", at the Australian Petroleum Production and Exploration Association ("APPEA") Conference in Adelaide earlier today. The key findings are summarised below.

Overall

  • Origin has identified four additional potential plays in the Beetaloo sub-basin in addition to the existing and explored Velkerri shale dry gas play, namely;
    • Velkerri shale liquids rich gas play,
    • Kyalla shale and hybrid liquids rich gas plays, and
    • Hayfield sandstone oil/condensate play.
       
  • The Velkerri shale dry gas remains the most materially and technically mature resource. 
     
  • Origin stated, "as such, the Beetaloo provides the JV with a diversified portfolio of material multi-TCF plays, each with the potential to redefine Australia's energy market."

Velkerri shale liquids rich gas play

  • Located along the northern and south-eastern flanks of the Beetaloo sub-basin.
  • Indications that porosity and permeability are higher in these areas.
  • Gas composition and maturity modelling indicate a possible condensate to gas ratio ("CGR") in the region of 5-40 bbl/MMscf.
  • A horizontal fracture stimulated well to test the deliverability of the play is required to assess technical viability.

Kyalla shale and hybrid lithology liquids rich gas play

  • Two related liquid rich gas play types have been identified for further appraisal:
    • shale play targets, and
    • hybrid play targets.
  • Prospective areas are interpreted to be confined to the JV's permits.
  • There is likely a cost advantage over the Velkerri shale dry gas play as it is shallower.
  • Liquid yields could be in the range of 15-60 bbl/MMscf.
  • Additional work is required to rank these plays for further appraisal.

Hayfield sandstone oil/condensate play

  • Interpreted as a thin but regionally extensive sandstone confined to the north of the JV permits.
  • Strong wet gas shows in the Amungee NW-1 and other regional wells suggest the presence of liquid hydrocarbons without significant formation water.
  • The Hayfield Sandstone is a tight sandstone with a significant secondary porosity network (but low matrix permeability) and potentially the presence of open, uncemented, hydrocarbon filled natural fractures.
  • Anticipated to have the highest liquid yields and lowest well costs that could contribute to improved economics of a stacked play development.
  • Success will be dependent on the combination of system permeability and resource density.
  • Would require a horizontal fracture stimulated well to assess the technical viability of the play.

Philip O'Quigley, CEO of Falcon, commented:
"The Beetaloo sub basin provides us with an exciting diversified portfolio, having exposure to all five identified plays.  When activity resumes, the JV will look to demonstrate improved well deliverability through longer laterals in the Velkerri shale while simultaneously seeking to prove up high value plays with increased liquids potential with lower well cost and improved economics. We look forward to announcing a forward exploration and appraisal drilling programme in due course."

Falcon Oil & GasBeetalooAustralia

More items from oilvoice


Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 26 days agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 26 days agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 28 days agoPress > CNOOCChina National Offshore Oil CorporationChevron +11

Total Announces the Distribution of its Second 2018 Interim Dividend

The Board of Directors met on December 12, 2018 and declared  the distribution of a second interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board's decision of July 25, 2018, an amount equal to the first 2018 interim dividend and an increase of 3.2% compared to t ...

OilVoice Press - OilVoice


Posted 30 days agoPress > TotalDividend

Methyl Tertiary Butyl Ether Capacity Will Grow at a CAGR of 16.8% in India Over Next Four Years, says GlobalData

India's Methyl Tertiary Butyl Ether (MTBE) plant capacity is forecasted to grow at a compound annual growth rate (CAGR) of 16.8% from 0.211 million tons per annum (mtpa) in 2017 to 0.460 mtpa in 2022, according to GlobalData , a leading data and analytics company. The company's report: ‘ Met ...

OilVoice Press - OilVoice


Posted 30 days agoOpinion > GlobalDataIndiaMTBE
All posts from oilvoice