The Finocchiaro CLP Government has welcomed a series of major announcements that reinforce strong investor confidence in the Northern Territory's energy sector, showing the NT is open for business.
Significant developments in the Beetaloo Sub-basin highlight the growing industry commitment to unlocking the Territory's vast gas resources, delivering jobs, energy security and long-term economic growth.
Minister for Mining and Energy Gerard Maley said the Territory is attracting the right kind of investment, with growing interest translating into real on-ground activity.
"The Finocchiaro CLP Government is backing the gas industry because it creates jobs, drives regional investment, and builds the economic strength we need to grow the Territory," Mr Maley said.
This momentum is part of the CLP's wider economic plan, which targets growth across energy, mining, tourism, agriculture and defence to expand the private sector and deliver lasting benefits for the NT.
Empire Energy Group has officially changed its company name and ASX code to Beetaloo Energy Australia Limited (ASX: BTL), effective from today.
This announcement reflects the company's clear strategic focus on developing its core NT assets and delivering affordable, reliable and secure energy to both the Territory and East Coast markets.
"I welcome the new direction of Beetaloo Energy Australia Limited and commend the company's recognition of the Beetaloo's importance to both the Northern Territory and the nation," said Mr Maley.
"This is more than just a name change, it signals a long-term commitment to the Territory and I look forward to seeing gas delivered into the NT market through their hard work."
The company also confirmed it has commenced the hydraulic fracturing of its Carpentaria 5H well, the longest horizontal well drilled to date in the Beetaloo, at 3310m.
With initial flow test results expected in Q3 2025, this well along with two others on EP187 will underpin the Carpentaria Pilot Project in supplying gas for the Territory.
Meanwhile, global interest in the Northern Territory's energy future continues to grow. Santos has reportedly received a $30 billion acquisition offer from a consortium led by XRG, which manages international investment for the Abu Dhabi National Oil Company.
Santos operates the Darwin LNG facility, set to receive Barossa gas later this year, and plans to drill further exploration and appraisal wells in the Beetaloo in 2026.
Tamboran Resources has also announced record 30-day initial production (IP30) gas flow results of 7.2 million cubic feet per day (MMcf/d) at its Shenandoah South 2H sidetrack well (SS-2H ST1), which was drilled through nearly 5,500 feet of highly gas-rich mid-Velkerri "B" Shale in the Beetaloo Sub-basin.
The result is comparable to some of the highest-performing wells in the United States' Marcellus Shale, one of the world's most productive gas basins.
These strong results will guide Tamboran's next drilling campaign as the company works towards supplying 40 terajoules of gas per day to the Territory market by mid-2026.
"I congratulate Tamboran Resources on this outstanding result, which puts the Beetaloo on par with some of the most advanced shale gas plays globally," Minister Maley said.
"I also welcome their commitment to drilling a further 3 more wells at its Shenandoah South site this year, which will deliver gas to market through the APA Group's Sturt Plateau Pipeline."
Minister Maley said the Finocchiaro CLP Government remains focused on unlocking the Territory's energy potential, as part of its plan to rebuild the NT economy.
"We are committed to backing the development of the Beetaloo and creating the economic opportunities that come with it: more jobs for Territorians, stronger regional communities, and long-term royalty revenue that will help fund essential services and infrastructure."
