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An update from Empire Energy Group Limited ( (AU:BTL) ) is now available.
Beetaloo Energy has reported strong clean-up flow test results from its Carpentaria-5H shale gas well in the Beetaloo Basin, with a peak gas rate of 11.2 TJ/day, a 30-day average of 7.1 TJ/day and a low-decline exit rate of 6.3 TJ/day achieved through casing alone, without production tubing. The company’s revised, more conservative flowback strategy using restricted choke settings has significantly improved fracture conductivity compared with earlier Carpentaria wells, and early data indicate higher shale permeability and longer effective fracture lengths, which, alongside an independent estimate of 10 PJ of 2C gas resources per well in the area, point to stronger long-term productivity, improved project economics and support the planned start of pilot gas sales from the Carpentaria Gas Plant into the Northern Territory market in 2026.
The most recent analyst rating on (AU:BTL) stock is a Buy with a A$0.70 price target. To see the full list of analyst forecasts on Empire Energy Group Limited stock, see the AU:BTL Stock Forecast page.
More about Empire Energy Group Limited
Beetaloo Energy Australia Limited is an Australian upstream gas company focused on developing shale gas resources in the Beetaloo Basin in the Northern Territory. Its operations centre on exploration and appraisal drilling, hydraulic stimulation and the planned development of the Carpentaria project to supply gas to local markets via a dedicated gas plant.
YTD Price Performance: 20.0%
Average Trading Volume: 1,712,390
Technical Sentiment Signal: Buy
Current Market Cap: A$335.9M
See more insights into BTL stock on TipRanks’ Stock Analysis page.