Tamboran Resources has appointed Todd Abbott as CEO and made significant progress in drilling and infrastructure development in the Beetaloo Basin, aiming for first gas sales in the third quarter of 2026.
- Todd Abbott appointed CEO with strong upstream experience
- Completed major drilling and stimulation program in Beetaloo Basin
- Sturt Plateau Compression Facility 78% complete, pipeline construction on schedule
- Pro forma cash position of approximately US$138 million including recent capital raises
- First gas sales targeted for Q3 2026 with ongoing expansion plans through 2030
Leadership and Operational Momentum
Tamboran Resources Corporation has ushered in a new chapter with the appointment of Todd Abbott as CEO. Abbott brings over two decades of upstream oil and gas experience, known for operational leadership and capital discipline, positioning the company to accelerate its ambitious plans in the Beetaloo Basin.
Under Abbott’s leadership, Tamboran has completed a significant drilling campaign, successfully drilling three wells with Helmerich and Payne rigs and stimulating the SS-6H well with an extensive 58-stage frac operation. These activities mark a critical step toward unlocking the basin’s unconventional gas potential.
Infrastructure Progress on Track
Infrastructure development is advancing steadily. The Sturt Plateau Compression Facility (SPCF) is 78% complete, adhering to budget and schedule, with commissioning expected in the third quarter of 2026. Meanwhile, the Sturt Plateau Pipeline (SPP), operated by APA Group, has completed construction and hydro testing, setting the stage for gas transport ahead of first sales.
Tamboran is also progressing a divestment process for the SPCF, aiming to monetize the asset while securing long-term gas processing agreements. This strategic move could enhance capital efficiency and reduce operational risk.
Financial Strength and Growth Outlook
Financially, Tamboran is well positioned with a pro forma cash balance of approximately US$138 million, bolstered by recent capital raises including a US$53 million public offer and a US$32 million PIPE transaction approved by shareholders. The company has also secured a US$118 million debt facility to support SPCF construction, guaranteed by the Northern Territory Government.
Looking ahead, Tamboran plans an active 2026 drilling and stimulation program targeting first gas sales in the third quarter. The company is also advancing a farmout process to underpin Phase 2 development and has completed the acquisition of Falcon Oil & Gas Ltd, consolidating its position in the basin.
Strategic Vision for the Beetaloo Basin
Tamboran’s roadmap extends beyond initial production. The company aims to grow to a multi-billion cubic feet per day producer by 2030, with phased expansions targeting up to 100 million cubic feet per day. This growth is expected to support local Northern Territory demand, East Coast gas markets, and potential LNG export opportunities.
While the company’s progress is promising, the timeline for key milestones remains subject to regulatory approvals, weather conditions, and operational challenges inherent in unconventional gas development.
Bottom Line?
Tamboran’s 2026 milestones will be pivotal in validating its Beetaloo Basin ambitions and shaping its market trajectory.
Questions in the middle?
- Will the upcoming IP30 flow test confirm the commercial viability of the SS-6H well?
- How will the Falcon acquisition and farmout process impact Tamboran’s capital and operational strategy?
- What are the risks and timelines associated with regulatory approvals for Phase 2 development?