Tamboran Raises US$99M, Advances Beetaloo Drilling and Infrastructure Ahead of Q3 2026 Gas Target

Operational Breakthroughs in the Beetaloo Basin

Tamboran Resources Corporation has delivered a robust update for the second quarter ending December 31, 2025, highlighting substantial progress in its flagship Beetaloo Basin project. The company successfully drilled and cemented three horizontal wells, Shenandoah South 4H, 5H, and 6H, each boasting 10,000-foot horizontal sections targeting the Mid Velkerri B shale. Notably, the drilling program was completed ahead of schedule and under budget, aided by innovative anti-vibration technology from strategic partner Baker Hughes.

Stimulation activities on the SS-6H well were completed with 58 stages over a 10,009-foot length, setting the stage for flow testing expected in the second quarter of 2026. While a minor equipment issue may affect flow in the final section of the well, the extended soaking period and forthcoming flow results will be critical in validating the well’s commercial potential.

Infrastructure and Capital Momentum

On the infrastructure front, the Sturt Plateau Compression Facility (SPCF), a joint venture with Daly Waters Energy, reached 78% completion by January 2026. The project remains on budget and on track for commissioning in the third quarter, weather permitting. Complementing this, the APA Group-owned Sturt Plateau Pipeline was completed and successfully passed pressure and hydro testing, ready for imminent tie-in to the Amadeus Gas Pipeline.

Tamboran’s financial position was bolstered by a US$67.4 million capital raise through a public offer and share purchase plan, alongside a US$32 million Private Investment in Public Equity (PIPE) transaction completed in January 2026. These efforts were supported by key investors including Baker Hughes and major shareholders Bryan and Scott Sheffield, ensuring Tamboran is well-funded to meet its near-term development goals.

Leadership and Strategic Expansion

January 2026 saw the appointment of Todd Abbott as CEO, bringing over 25 years of upstream experience and a track record of operational leadership and capital discipline. Abbott’s arrival signals a renewed focus on efficient execution and value creation as Tamboran prepares for its most active year yet in the Beetaloo Basin, with plans for multiple well stimulations and new drilling campaigns across both the Northern and Southern Pilot Areas.

Tamboran is also advancing the acquisition of Falcon Oil & Gas Ltd, expected to close in early March 2026, which will increase its acreage and working interests significantly. This strategic move positions Tamboran as the largest acreage holder in the Beetaloo Basin, strengthening its operational footprint and future production capacity.

Looking Ahead

With first gas sales from the Shenandoah South Pilot Project targeted for the third quarter of 2026, Tamboran is on the cusp of transitioning from exploration to production. The company’s integrated approach, combining drilling success, infrastructure development, and strategic capital management, sets a promising trajectory. However, the timing remains subject to weather conditions and the outcome of upcoming flow tests, which will be closely watched by investors and industry observers alike.