Tamboran Resources Corporation announced that its Shenandoah South 2H sidetrack well, designated SS-2H ST1, achieved a record 90-day initial production (IP90) flow rate of 6.7 million cubic feet per day over a stimulated horizontal section of approximately 5,483 feet in the Mid Velkerri B Shale. The well’s performance was driven by a 35-stage fracture stimulation program, which resulted in cumulative production of around 601.2 million cubic feet. Over the last 30 days of testing, the flow rates increased by roughly 2% without any downhole interventions while maintaining a stable choke size of 44/64 inches. At the end of the 90-day period, the well continued to deliver flows at 6.5 MMcf/d with a wellhead pressure of approximately 700 psi, marking only about a 3% decline from its performance at Day 60. The company noted that the well was suspended in preparation for future gas sales to the Northern Territory Government through the Sturt Plateau Compression Facility expected to come online in mid-2026, subject to weather conditions and final stakeholder approvals. Additionally, Tamboran is advancing a three-well drilling campaign in the Shenandoah South area, employing a batch drilling process that is a first in the Beetaloo Basin. Progress has been made on the SS-5H and SS-6H wells, while the interim section from the SS-4H well is currently being drilled. The forthcoming phase involves drilling lengthy horizontal sections of up to 10,000 feet on these wells. From a technical standpoint, the SS-2H ST1 well’s performance distinguishes it from previous wells, including the SS-1H, which registered lower IP90 flow rates. Graphical comparisons against a dataset from more than 11,000 wells, including those from the Marcellus shale, underline the well’s competitive production metrics when normalized to a standard lateral length. Company Chairman and Interim CEO Richard Stoneburner highlighted that the well’s increasing flow over the testing period indicates enhanced matrix connectivity—a key indicator for the asset’s long-term recovery potential. Analysts see a bullish narrative driven by the robust production performance, operational efficiency, and the promising results from the stimulation program. The sustained flow rates without the need for further intervention, along with continued improvements during the final test phase, suggest that the reservoir may support extended production beyond the initial testing period. These factors, combined with the strategic development of additional acreage and infrastructure, bolster confidence in the asset’s ability to supply gas to an anticipated shortfall in the East Coast market. Conversely, a bearish perspective points to the inherent risks in early-stage development, such as the uncertainties tied to further regulatory approvals and infrastructure projects. The dependence on external factors, including weather conditions impacting the commencement of gas sales and market volatility in natural gas prices, may introduce operational and financial challenges as the company moves toward commercial production. This balance of strong technical data against broader market and execution risks must be carefully monitored by traders stepping into the industry.