Tamboran Resources Corporation Stock Price, News & Analysis

Tamboran Resources (NYSE: TBN) has commenced an underwritten public offering of 2,324,445 shares of common stock and expects to grant underwriters a 30-day option to purchase up to an additional 348,666 shares. The company intends to use net proceeds to fund its development plan, working capital, and general corporate purposes. RBC Capital Markets and Wells Fargo Securities are joint book-running managers. The offering is being made only by prospectus supplement and base prospectus filed with the SEC; copies are available on www.sec.gov or from the joint book-running managers. This press release is not an offer to sell or solicitation to buy securities.

Tamboran Resources (NYSE: TBN) completed the 2025 Shenandoah South drilling program, its largest in the Beetaloo Basin, batch drilling three 10,000-foot lateral wells (SS-4H, SS-5H, SS-6H) that are cased and suspended ahead of stimulation.

Key operational metrics: average spud-to-TD 26.7 days (within a 35-day forecast) and a record horizontal section of 1,100 m (3,603 ft) in one day in SS-6H. The program will use up to 60 stimulation stages and Liberty Energy equipment; SS-4H stimulation and a 30-day flow test are planned in 4Q 2025, with first gas sales on track for mid-2026.

Tamboran Resources (NYSE: TBN) has reached Final Investment Decision (FID) for its Shenandoah South Pilot Project in the Beetaloo Basin, with first gas sales expected by mid-2026. The project secured A$179.8 million (~US$118 million) in financing through a three-tranche facility with a consortium of lenders for the Sturt Plateau Compression Facility (SPCF).

The company has executed key agreements including a Gas Sales Agreement with the Northern Territory Government to supply 40 TJ per day of gas with CPI-adjusted pricing, a Gas Processing Agreement with SPCF Trust, and a Gas Transportation Agreement with APA Group. The project aims to provide long-term production testing of five wells (SS-2H ST1, -3H, -4H, -5H, and -6H) and deliver energy security to the Northern Territory.

The current three-well drilling program is expected to complete in early Q4 2025, followed by stimulation and flow testing phases through early 2026.

Tamboran Resources (NYSE: TBN) has entered into a definitive agreement to acquire Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG), creating a dominant player in the Beetaloo Basin with approximately 2.9 million net prospective acres.

The transaction, valued at C$239 million (US$172 million), will be executed through a combination of 6,537,503 Tamboran NYSE shares and US$23.7 million in cash. Falcon shareholders will receive 0.00687 Tamboran shares for each Falcon share, representing a 19.7% premium to Falcon's closing price and will own 26.8% of the combined entity.

The acquisition is accretive to Tamboran stockholders with an implied acreage value of US$169 per acre, a 4% discount to Tamboran's current implied value. The deal is expected to close in Q1 2026, subject to shareholder approvals.

Tamboran Resources (NYSE:TBN) has achieved a significant milestone by receiving the first-ever approval from the Northern Territory Government (NTG) to sell appraisal gas under the new Beneficial Use of Gas (BUG) legislation. The approval, combined with Native Title Holders' consent, allows gas sales of up to 60 TJ per day from the Shenandoah South Pilot Project over three years.

The Beetaloo Joint Venture plans to initiate gas sales of up to 40 TJ per day to the NTG by mid-2026 under a binding Gas Sales Agreement. The project's drilling progress includes completed intermediate sections on three wells, with ongoing horizontal drilling in the Mid Velkerri B Shale at SS-5H well. The SS-4H well stimulation is scheduled for Q4 2025, followed by flow testing before connection to the Sturt Plateau Compression Facility.

Tamboran Resources (NYSE:TBN) announced record-breaking results from its Shenandoah South 2H sidetrack (SS-2H ST1) well in the Beetaloo Basin. The well achieved an exceptional 90-day initial production (IP90) flow rate of 6.7 million cubic feet per day (MMcf/d) over a 5,483-foot stimulated horizontal section within the Mid Velkerri B Shale.

The well demonstrated remarkable stability, with flow rates actually increasing by ~2% during the final 30 days without intervention, maintaining a 44/64" choke. At the 90-day mark, it was flowing at 6.5 MMcf/d with a wellhead pressure of ~700 psi. The well has been suspended pending gas sales to the Northern Territory Government via the Sturt Plateau Compression Facility in mid-2026.

Additionally, Tamboran's three-well 2025 Shenandoah South drilling campaign is progressing, implementing the first-ever batch drilling program in the Beetaloo Basin.

Tamboran Resources Corporation (NYSE: TBN) has announced significant leadership changes, with Board Chairman Dick Stoneburner appointed as interim CEO following Joel Riddle's departure after 12 years of service. The company has initiated a search for a permanent CEO with the help of an executive search firm.

Additionally, Scott Sheffield and Phillip Pace have joined as Non-Executive Directors, while John Bell Sr. has stepped down. These appointments are part of an agreement with the Sheffield Group, which owns 17.6% of Tamboran's outstanding Common Stock. The agreement includes standstill and voting provisions effective until 2028.

The company remains focused on its operational goals, including completing the tie-in of five wells at Shenandoah South 2 pad and maintaining its 40 MMcf/d Gas Sales Agreement with the Northern Territory Government.

Tamboran Resources (NYSE: TBN) announced record-breaking results from their Shenandoah South 2H sidetrack well (SS-2H ST1) in the Beetaloo Basin, achieving an average 30-day initial production rate of 7.2 MMcf/d over a 5,483-foot stimulated length. The normalized flow rate of 13.2 MMcf/d per 10,000-foot section matches performance of Marcellus Shale dry gas wells. The well maintains steady production with a 6.7 MMcf/d exit rate and 910 psi wellhead pressure. Tamboran plans to drill three additional 10,000-foot horizontal wells in H2 2025, targeting first gas production by mid-2026 through the Sturt Plateau Compression Facility to fulfill a 40 MMcf/d Gas Sales Agreement with the Northern Territory Government. The project demonstrates commercial viability in the Australian East Coast gas market, which typically trades at a premium to Henry Hub prices.

Tamboran Resources Corporation (NYSE: TBN) has successfully closed the first tranche of its Private Investment Public Equity (PIPE) offering, raising US$38.7 million through the issuance of 2,180,515 shares at US$17.74 per share. A second tranche, expected to close in August 2025 subject to shareholder approval, aims to raise an additional US$55.4 million. The PIPE includes a US$10 million placement to Formentera Partners, founded by Bryan Sheffield. The funds will primarily support drilling activities for Tamboran's 40 MMcf/d Pilot Project at Shenandoah South in the Beetaloo Basin, with production planned for mid-2026. Additionally, the company has agreed to sell a non-operating interest across 100,000 acres to Daly Waters Energy for US$15 million.