Tamboran’s $56M Public Offering and $29M PIPE Fuel Beetaloo Basin Ambitions
Tamboran Resources has raised over US$56 million through a public offering and secured up to US$29.3 million via a PIPE, while forging a strategic partnership with Baker Hughes to advance its Beetaloo Basin shale gas development.
- US$56.1 million raised in public offering at US$21 per share
- PIPE secured with up to US$29.3 million, including investments from key shareholders
- Strategic services agreement signed with Baker Hughes for oilfield support
- Share Purchase Plan targeting up to US$30 million to engage existing investors
- Funds earmarked for Beetaloo Basin development, working capital, and corporate needs
Capital Raise Strengthens Tamboran’s Development Outlook
Tamboran Resources Corporation has successfully raised US$56.1 million through a public offering, issuing over 2.6 million shares at US$21 each. This capital injection is a significant boost as the company advances its shale gas development in the Beetaloo Basin, Northern Territory. The offering was further supported by cornerstone investors, notably a US$10 million commitment from Baker Hughes, marking a new strategic partnership.
Alongside the public offering, Tamboran has entered into a Private Investment in Public Equity (PIPE) agreement, potentially bringing in an additional US$29.3 million. This PIPE includes substantial backing from Tamboran’s largest shareholder Bryan Sheffield and board member Scott Sheffield, subject to shareholder approvals. The combined proceeds from these financing activities will underpin Tamboran’s 2026 drilling plans, working capital, and general corporate purposes.
Strategic Partnership with Baker Hughes
The alliance with Baker Hughes is a pivotal development for Tamboran, aiming to leverage Baker Hughes’ industry-leading oilfield services and technology. The agreement covers a defined number of wells over a three-year period, focusing on optimizing drilling efficiency and cost management. This partnership complements existing collaborations with Helmerich & Payne and Liberty Energy, reinforcing Tamboran’s operational capabilities as it moves closer to first gas production.
Engaging Shareholders Through a Share Purchase Plan
Tamboran plans to launch a Share Purchase Plan (SPP) targeting up to US$30 million, offering existing eligible shareholders the opportunity to purchase shares at the same price as the public offering. This move aims to deepen shareholder engagement and provide additional funding flexibility. The SPP is scheduled to open on October 30, 2025, and close on November 20, 2025, with details to be provided in a forthcoming offer booklet.
Looking Ahead
Chairman and Interim CEO Richard Stoneburner emphasized the importance of these capital raises and partnerships in maintaining momentum for Tamboran’s development activities. With funds secured and operational partnerships in place, the company is positioned to advance its drilling program and progress towards commercial gas production, a critical milestone for its growth trajectory.
Bottom Line?
Tamboran’s fresh capital and strategic alliances set the stage for a pivotal year in unlocking Beetaloo’s shale gas potential.
Questions in the middle?
- Will shareholder approvals for the PIPE and SPP proceed smoothly?
- How will the Baker Hughes partnership tangibly reduce operational costs and improve drilling efficiency?
- What are the timelines and risks associated with the anticipated farmout process and first gas production?
