The Territory Labor Government is backing the industries which get Territorians working and new results paint a bright picture for the Territory.
Today, Tamboran Resources announced on the ASX final results from their Shenandoah South 1H well in the Beetaloo Basin.
The 90 day flow test produced rates of 5.8 million cubic feet per day, which is 65% higher than any other well in the Beetaloo Basin.
Flow testing has demonstrated the Beetaloo Basin has gas flow levels in line with the most prolific regions of the Marcellus Shale in the US, providing immense investor confidence as Tamboran expect to reach final investment decision by mid-2024.
This also provides Territorians confidence the Beetaloo Basin will facilitate growth in the economy by over $17 billion and create thousands of working opportunities for many years to come.
Only last week the Lawler Government announced a deal with Tamboran which secures power for at least the next nine years and ensures Territorian are the first to benefit from Territory gas.
The first gas is expected to flow from the Beetaloo Basin to Territory power generators is expected for the first half of 2026.
Quotes attributed to Chief Minister, Eva Lawler:
"This is a key milestone for Tamboran and waves a metaphorical green flag to the world letting them know the Territory is where you should be investing your money.
"We are backing industries which get the Territory working, industries which deliver cleaner and more affordable energy and industries which boost our economy.
Quotes attributed to Minister for Mining, Mark Monaghan:
"The Northern Territory will be the jurisdiction to deliver cleaner and more affordable energy to Australia and the world.
"Territorians will benefit from backing in this industry."
Northern Territory Government
