Falcon Oil & Gas Ltd (UK) (GB:FOG) has released an update.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts and uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Falcon Oil & Gas Ltd. has reported a successful initial production rate for its Shenandoah South-1H well in Australia, with a flow rate of 2.9 million cubic feet per day, scaled to 5.8 MMcf/d over a longer lateral length. The impressive performance of the well aligns with some of the highest-producing regions in the U.S. and bodes well for future development. This milestone is expected to significantly bolster the company’s pilot project plans in the Beetaloo Basin, with a final investment decision anticipated by mid-2024.
For further insights into GB:FOG stock, check out TipRanks’ Stock Analysis page.
