Falcon Oil & Gas gets approval for Kyalla well in Australia
Dublin-headquartered Falcon Oil & Gas has received approval for the 2019 drilling, stimulation, and testing of the Kyalla well in Northern Australia.
The work at Kyalla 117 N2 horizontal appraisal well will be prepared by Origin Energy, Falcon’s joint venture partner.
The well, in the Northern Territory state of Australia, is targeting the liquid rich gas fairway targets in the Kyalla formations.
Construction of the well pad and related civil works is nearing completion, and drilling operations will start next month.
Philip O’Quigley, CEO of Falcon, said: "Today’s announcement relating to the approval of the Kyalla 117 N2 Well EMP targeting the Kyalla shale liquids rich gas fairway is an exciting development for Falcon shareholders."
"We look forward to the commencement of drilling operations."
Last year Falcon reported a loss of $1.3m (€1.1m) for 2018, down from a loss of almost $4m (€3.5m) the previous year.
The group’s portfolio also includes projects in South Africa and Hungary.