TUSCALOOSA MARINE SHALE (TMS)
Through multiple acquisitions and strategic leasing, Australis has achieved a strategic acreage position within the TMS, one of the last emerging oil shale basins onshore in the USA with oil production per well similar to the best areas within US shale such as Eagle Ford in Texas.
At 31 December 2022, Australis holds just less than 80,000 net acres in the oil rich TMS core, making it the largest producer and acreage holder in that region. Australis operates 33 producing wells generating positive cashflow.
This large acreage position within the TMS core, with it's associated production and cashflow, proven reserves and large undeveloped resource provides the platform for significant value creation for Australis shareholders.
|At 31 December 2022
|Net TMS Core leased (focus) acres
||79,600 (49% HBP)
|Net (after royalties) production - average 2022
|Ryder Scott estimated developed reserves as at 31 Dec 22
|1P Developed (i.e. producing)
||2.5 million bbls
||3.1 million bbls
||3.9 million bbls
||117 million bbls
|Well inventory (future locations, net) - 80,000 net acres assessed
||~ 300 net wells
For a summary of reserves and resources refer to Reserves and Resources.