Falcon set for Australian drilling
Falcon Oil & Gas's Australian partner has signed a rig contract with Ensign Australia to cover stage two of its 2019 drilling campaign.
Falcon has a joint venture with Origin Energy, operator of the Beetaloo licences, in the Northern Territory.
The programme involves the drilling and hydraulic testing of two horizontal wells.
These will allow assessment of the liquid-rich gas fairway targets in the Kyalla and Velkerri formations.
Together with the Velkerri B dry gas prospect discovered in 2016, this allows for the assessment of three prospects, enabling the most commercially viable one to be targeted for stage-three drilling during 2020, Falcon said.
The Stage 2 Cost Cap is approximately A$65m (€41m) for the exploration and appraisal programme, including the drilling and hydraulic fracture stimulation costs of two horizontal wells.
Work, including water hole drilling and monitoring, has already commenced at some well sites.
Drilling is scheduled to start in June.