Beetaloo Energy Australia Advances Carpentaria Pilot toward First Gas Sales

Beetaloo Energy Australia (ASX: BTL) has moved the Carpentaria pilot project further towards first pilot gas sales after installing key components of its gas plant and completing important field work during the June quarter.

The Carpentaria gas plant remains on schedule and within budget for commissioning in the fourth quarter of 2026, when three existing horizontal wells are expected to be connected for pilot production.

Post-quarter flow testing at Carpentaria-5H delivered an average 30-day production rate of 6.9 terajoules per day and an exit rate of 6.7 terajoules per day, with the low decline supporting confidence in the well’s performance.

Beetaloo ended the quarter with total liquidity of $124.9 million, including $63.3m cash and $61.5m of undrawn funding available through Macquarie Bank facilities.

Pilot Plant Nears Commissioning

Construction activity increased after the Northern Territory wet season, with structural and mechanical installation works advancing as major plant components were mobilised to the Carpentaria site.

Clearing for flowlines between the wells and the plant was completed without reportable incidents, adding another piece of infrastructure required before pilot gas sales can begin.

“The June 2026 quarter marked an important transition for Beetaloo Energy as we moved from planning and funding into execution across our Beetaloo Basin portfolio,” managing director Alex Underwood said.

“Activity across the wider Beetaloo Basin continues to accelerate as operators progress appraisal and pilot development programs, reinforcing confidence in the basin's emergence as a strategically important new source of Australian gas supply,” he said.

“Beetaloo Energy is well positioned to play a leading role in that development as we advance toward first pilot gas sales."

Carpentaria-5H Well Test

Carpentaria-5H initially flowed at more than 14 terajoules per day after testing began on 11 June before settling into the sustained rates recorded across the 30-day period.

The low decline observed across multiple test periods supports the previously disclosed recoverable gas estimate of approximately 10 petajoules at the well location.

Carpentaria-5H will be tied into the plant alongside Carpentaria-2H and Carpentaria-3H after testing concluded, creating the initial well base for the pilot project.

Data from the extended test will inform future well planning and field development as Beetaloo prepares Carpentaria-5H for connection.

Seismic Maps Future Drilling

Beetaloo completed the 236km Birdum Creek 2D Seismic Survey after quarter-end across the more than 20 trillion cubic feet Gas Discovery Area within exploration permits EP167 and EP168.

The survey was designed to improve reservoir characterisation, support future horizontal well planning and maximise drilling opportunities across the Western Permits.

Processing is underway ahead of interpretation scheduled for the third quarter of 2026, providing another input into the group’s broader Beetaloo Basin development planning.

Long-form loan agreements with Territory Sands will support development of the Forest Hill South frac sand project, which is intended to establish a local supply of proppant for hydraulic fracturing operations in the Beetaloo Basin.

Beetaloo expects locally sourced sand to reduce logistics costs and improve supply security, with Territory Sands making its first drawdown under the arrangements after the quarter ended.