Formentera Partners and Daly Waters Energy Achieve First Natural Gas Sales from the Beetaloo Basin
First natural gas sales have been achieved from the Shenandoah South Pilot Project in Australia's Beetaloo Basin, announced jointly by Formentera Partners, its operating company Daly Waters Energy, and joint-venture partner Tamboran Resources (NYSE: TBN). These are the first gas molecules ever sold from the basin and will power Darwin in the Northern Territory. Volumes are set to build to the full 38.8 MMcf/d (40 TJ/d) contracted to the Northern Territory Government by the end of 2026 under a take-or-pay agreement running up to 15 years, flowing through the Sturt Plateau Compression Facility, which is commissioning at 48.5 MMcf/d (50 TJ/d) nameplate capacity.
Key figures
- Contracted volume
- 38.8 MMcf/d (40 TJ/d) to the Northern Territory Government by end of 2026
- Beetaloo net acres
- 1.9 million (Formentera/DWE position)
- Contract structure
- take-or-pay, up to 15 years
- Second rig arrival
- Q2 2027 (Helmerich & Payne FlexRig)
- Spcf nameplate capacity
- 48.5 MMcf/d (50 TJ/d)
AI analysis
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