Latest news with #EmpireEnergyGroup
West Australian
16 hours ago
- Business
- West Australian
Empire/Beetaloo stimulates gas extraction at massive NT project
Empire Energy Group, under its new name Beetaloo Energy Australia, has kick-started hydraulic stimulation activities at the company's 3.31-kilometre-long Carpentaria-5H horizontal well in the Northern Territory's massive Beetaloo Basin. The new moniker reflects the company's determination to focus on the Beetaloo sub–basin and positions itself to become the nation's next big onshore gas player. It will migrate from the ASX ticker EEG to BTL from the start of trading tomorrow. Beetaloo plans to complete more than 60 stimulation stages along a 3.31km, 5.5-inch cased section within the Velkerri B shale in the well, which is the longest horizontal well in the Beetaloo sub-basin. Beetaloo expects the program will take four weeks. The Carpentaria-5H well sits within the company's Beetaloo Basin EP187 permit. Along with the Carpentaria-2H and Carpentaria-3H wells, Carpentaria-5H forms part of the company's Carpentaria pilot project. The 2H and 3H wells were drilled and stimulated from the same well pad. Beetaloo used specialist firms to refine the design of the stimulation program to ensure it considered lessons learned from previous well stimulation programs. It has charged industry-leading firm Halliburton with stimulating the super-long well. Halliburton's equipment will provide much-needed punch to the program, which is designed to maximise production rates and gas recovery levels. Due to the longer well length and larger casing diameter, the stimulation program design will utilise an increased 42,000 hydraulic horsepower for larger pumping rates, increased fluid and proppant (sand) intensity, and a dedicated slickwater design. It includes a revised perforation strategy and various other enhancements. The benchmarks include a 100-barrel (bbl) per minute pump rate, 50bbl per foot slickwater stimulation fluid intensity and a 2400-pound per foot proppant intensity. Underwood said horizontal drilling and hydraulic stimulation revolutionised the United States' energy system, driving down energy prices and emissions intensity while stimulating economic activity. Australia has the same opportunity through the development of the Beetaloo Basin, he said. When the stimulation program finishes, Beetaloo will undertake a 30-day clean-up and soak, followed by a 30-day production test to check the flow rate levels. The company anticipates the release of IP30 flow rates within the next three months. The 3.31km horizontal well sits at an average depth of 1580 metres below ground within a 70m-thick B shale reservoir. The planned stimulation of more than 60 stages will use the standard plug and perf technique. Commonly used in shale formations, the technique involves setting temporary bridge plugs at specific intervals within a wellbore to isolate and treat different zones sequentially. After setting the plug, perforating guns are used to create openings in the well casing and surrounding formation. The perforations allow the hydraulic stimulation fluid to be pumped in to fracture the rock. Following successful hydraulic stimulation and production flow testing, the company plans to construct the Carpentaria pilot project. The project will determine a long-term production curve to support future development planning. When the well has been stimulated, it will be shut in and tied into the Carpentaria gas plant for production. Beetaloo will then seek the regulatory nod for gas sales under the NT's beneficial use of test gas rules. Management plans to eventually draw sufficient gas from the basin to supply the NT government with as much as 100 terajoules of gas per day. Beetaloo holds a commanding 117,000 square kilometres of prospective exploration tenements in the NT's McArthur Basin and Beetaloo sub-basins. Both basins offer enormous hydrocarbon potential. The company remains stacked with funds, highlighting its cash at bank is a healthy $40.5 million. It follows the company raising a handy $28 million in May to bolster its Beetaloo Basin exploration plans. Beetaloo also retains access to $28.8 million in undrawn Macquarie Bank facilities. Boosted by continual funding, its large cash holding and a world-class gas region, Beetaloo has come far. Test flow results expected in the next few months should provide a guide to just how far Carpentaria has come along the path to success. Is your ASX-listed company doing something interesting? Contact:
Sydney Morning Herald
16 hours ago
- Business
- Sydney Morning Herald
Empire/Beetaloo stimulates gas extraction at massive NT project
Empire Energy Group, under its new name Beetaloo Energy Australia, has kick-started hydraulic stimulation activities at the company's 3.31-kilometre-long Carpentaria-5H horizontal well in the Northern Territory's massive Beetaloo Basin. The new moniker reflects the company's determination to strategically focus on the Beetaloo sub–basin and positions itself to become the nation's next big onshore gas player. It will migrate from the ASX ticker EEG to BTL from the start of trading tomorrow. Beetaloo plans to complete more than 60 stimulation stages along a 3.31km, 5.5-inch cased section within the Velkerri B shale in the well, which is the longest horizontal well in the Beetaloo sub-basin. Beetaloo expects the program will take four weeks. The Carpentaria-5H well sits within the company's Beetaloo Basin EP187 permit. Along with the Carpentaria-2H and Carpentaria-3H wells, Carpentaria-5H forms part of the company's Carpentaria pilot project. The 2H and 3H wells were drilled and stimulated from the same well pad. 'The stimulation of Carpentaria-5H is an historic moment in the development of the Beetaloo Basin.' Beetaloo Energy managing director Alex Underwood Beetaloo used specialist firms to refine the design of the stimulation program to ensure it considered lessons learned from previous well stimulation programs. It has charged industry-leading firm Halliburton with stimulating the super-long well. Halliburton's equipment will provide much-needed punch to the program, which is designed to maximise production rates and gas recovery levels. Due to the longer well length and larger casing diameter, the stimulation program design will utilise an increased 42,000 hydraulic horsepower for larger pumping rates, increased fluid and proppant (sand) intensity, and a dedicated slickwater design. It includes a revised perforation strategy and various other enhancements. The benchmarks include a 100-barrel (bbl) per minute pump rate, 50bbl per foot slickwater stimulation fluid intensity and a 2400-pound per foot proppant intensity.
The Age
16 hours ago
- Business
- The Age
Empire/Beetaloo stimulates gas extraction at massive NT project
Empire Energy Group, under its new name Beetaloo Energy Australia, has kick-started hydraulic stimulation activities at the company's 3.31-kilometre-long Carpentaria-5H horizontal well in the Northern Territory's massive Beetaloo Basin. The new moniker reflects the company's determination to strategically focus on the Beetaloo sub–basin and positions itself to become the nation's next big onshore gas player. It will migrate from the ASX ticker EEG to BTL from the start of trading tomorrow. Beetaloo plans to complete more than 60 stimulation stages along a 3.31km, 5.5-inch cased section within the Velkerri B shale in the well, which is the longest horizontal well in the Beetaloo sub-basin. Beetaloo expects the program will take four weeks. The Carpentaria-5H well sits within the company's Beetaloo Basin EP187 permit. Along with the Carpentaria-2H and Carpentaria-3H wells, Carpentaria-5H forms part of the company's Carpentaria pilot project. The 2H and 3H wells were drilled and stimulated from the same well pad. 'The stimulation of Carpentaria-5H is an historic moment in the development of the Beetaloo Basin.' Beetaloo Energy managing director Alex Underwood Beetaloo used specialist firms to refine the design of the stimulation program to ensure it considered lessons learned from previous well stimulation programs. It has charged industry-leading firm Halliburton with stimulating the super-long well. Halliburton's equipment will provide much-needed punch to the program, which is designed to maximise production rates and gas recovery levels. Due to the longer well length and larger casing diameter, the stimulation program design will utilise an increased 42,000 hydraulic horsepower for larger pumping rates, increased fluid and proppant (sand) intensity, and a dedicated slickwater design. It includes a revised perforation strategy and various other enhancements. The benchmarks include a 100-barrel (bbl) per minute pump rate, 50bbl per foot slickwater stimulation fluid intensity and a 2400-pound per foot proppant intensity.
Yahoo
15-03-2025
- Business
- Yahoo
Investors in Empire Energy Group (ASX:EEG) have unfortunately lost 41% over the last three years
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But the risk of stock picking is that you will likely buy under-performing companies. We regret to report that long term Empire Energy Group Limited (ASX:EEG) shareholders have had that experience, with the share price dropping 41% in three years, versus a market return of about 16%. But it's up 5.4% in the last week. With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. View our latest analysis for Empire Energy Group Empire Energy Group wasn't profitable in the last twelve months, it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. When a company doesn't make profits, we'd generally hope to see good revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one would hope for good top-line growth to make up for the lack of earnings. In the last three years Empire Energy Group saw its revenue shrink by 10% per year. That is not a good result. The annual decline of 12% per year in that period has clearly disappointed holders. And with no profits, and weak revenue, are you surprised? However, in this kind of situation you can sometimes find opportunity, where sentiment is negative but the company is actually making good progress. You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values). We like that insiders have been buying shares in the last twelve months. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. If you are thinking of buying or selling Empire Energy Group stock, you should check out this free report showing analyst profit forecasts. It's good to see that Empire Energy Group has rewarded shareholders with a total shareholder return of 5.4% in the last twelve months. That gain is better than the annual TSR over five years, which is 5%. Therefore it seems like sentiment around the company has been positive lately. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For example, we've discovered 3 warning signs for Empire Energy Group (1 is concerning!) that you should be aware of before investing here. If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: most of them are flying under the radar). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Australian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
