Tamboran Resources: Sheffield reports 10.4% stake

Several reported totals attribute the same entity-held shares to the holder and to related general partners or managers.

Rhea-AI Filing Summary

Tamboran Resources Corp. (TBN) ownership amendment reports Bryan Sheffield's beneficial ownership of 3,646,756 common shares, or 10.4%. Sheffield Holdings, LP is the record holder of 2,586,904 shares; Daly Waters Energy, LP holds 876,197; and the Bryan S. Sheffield Spousal Lifetime Access Trust holds 183,655 after giving effect to closing of the Institutional Entitlement Offer. Sheffield is identified as manager of Spraberry Interests, LLC, managing member of Formentera Investments LLC and investment trustee of the trust.

The ownership percentages use 34,960,006 shares outstanding as of September 23, 2026. The amendment attributes a greater than 1% decrease in certain reporting persons' beneficial ownership solely to the increase in outstanding shares.

Key Figures

Bryan Sheffield beneficial ownership: 3,646,756 shares Sheffield Holdings shares held: 2,586,904 shares Daly Waters shares held: 876,197 shares +2 more

5 metrics

Bryan Sheffield beneficial ownership 3,646,756 shares 10.4% of the class

Sheffield Holdings shares held 2,586,904 shares 7.4% of the class

Daly Waters shares held 876,197 shares 2.5% of the class

BSS SLAT shares held 183,655 shares After giving effect to closing of the Institutional Entitlement Offer

Tamboran common shares outstanding 34,960,006 shares As of September 23, 2026

Key Terms

beneficial ownership, shared voting power, shared dispositive power, record holder

4 terms

beneficial ownership regulatory

"may be deemed to share beneficial ownership"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

shared voting power regulatory

"Shared Voting Power"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power regulatory

"Shared Dispositive Power"

record holder financial

"Sheffield Holdings is the record holder"

A record holder is the person or institution officially listed in a company’s books as the owner of shares, bonds or other securities on a specific date. Think of it like the name on the registration of a car: being the record holder determines who is eligible for dividends, voting at meetings, or other shareholder rights. Investors care because actions tied to a set date apply only to those recorded as owners.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Tamboran Resources (TBN) shares does Bryan Sheffield beneficially own?

Bryan Sheffield reported beneficial ownership of 3,646,756 shares, or 10.4% of Tamboran Resources Corporation common stock. The total includes shares held by Sheffield Holdings, LP, Daly Waters Energy, LP and the Bryan S. Sheffield Spousal Lifetime Access Trust.

Why did certain TBN reporting persons' beneficial ownership decrease?

The amendment says a greater than 1% decrease in certain reporting persons' beneficial ownership was due solely to the increase in Tamboran's outstanding shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/29/2026 - 08:48 PM Accepted by SEC EDGAR 09/29/2026 - 08:48 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

Tamboran Resources Corporation

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

87507T101

(CUSIP Number)

Bryan Sheffield
300 Colorado Street, Suite 1900
Austin, TX, 78701
737-304-7803

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/25/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 87507T101

1

Name of reporting person

Bryan Sheffield

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 183,655.00
8	Shared Voting Power 3,463,101.00
9	Sole Dispositive Power 183,655.00
10	Shared Dispositive Power 3,463,101.00

11

Aggregate amount beneficially owned by each reporting person

3,646,756.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

10.4 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 87507T101

1

Name of reporting person

Sheffield Holdings, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,586,904.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,586,904.00

11

Aggregate amount beneficially owned by each reporting person

2,586,904.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 87507T101

1

Name of reporting person

Spraberry Interests, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,586,904.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,586,904.00

11

Aggregate amount beneficially owned by each reporting person

2,586,904.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 87507T101

1

Name of reporting person

Daly Waters Energy, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 876,197.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 876,197.00

11

Aggregate amount beneficially owned by each reporting person

876,197.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.5 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 87507T101

1

Name of reporting person

Formentera Australia Fund I GP, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 876,197.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 876,197.00

11

Aggregate amount beneficially owned by each reporting person

876,197.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.5 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 87507T101

1

Name of reporting person

Formentera Investments LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 876,197.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 876,197.00

11

Aggregate amount beneficially owned by each reporting person

876,197.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.5 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.001 per share
(b)	Name of Issuer: Tamboran Resources Corporation
(c)	Address of Issuer's Principal Executive Offices: Suite 01, Level 39, Tower One, I.T.S., 100 Barangaroo Avenue, New South Wales, AUSTRALIA , 2000.
Item 1 Comment: This Amendment No. 7 ("Amendment No. 7") amends and supplements the statement on Schedule 13D filed by the undersigned on July 8, 2024 (the "Original Schedule 13D"), as amended by Amendment No. 1 filed on May 14, 2025 ("Amendment No. 1"), Amendment No. 2 filed on July 23, 2025 ("Amendment No. 2"), Amendment No. 3 filed on July 29, 2025 ("Amendment No. 3"), Amendment No. 4 filed on November 17, 2025 ("Amendment No. 4"), Amendment No. 5 filed on February 13, 2026 ("Amendment No. 5"), and Amendment No. 6 filed on April 14, 2026 ("Amendment No. 6", together with the Original Schedule 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4 and Amendment No. 5, the "Schedule 13D") as specifically set forth herein. Amendment No. 7 is filed by (i) Bryan Sheffield, (ii) Sheffield Holdings, LP, a Texas limited partnership ("Sheffield Holdings"), (iii) Spraberry Interests, LLC, a Delaware limited liability company ("Spraberry"), (iv) Daly Waters Energy, LP, a Delaware limited partnership ("Daly Waters"), (v) Formentera Australia Fund I GP, LP, a Delaware limited partnership ("Formentera Australia"), and (vi) Formentera Investments LLC, a Delaware limited liability company ("Formentera Investments"), (each, a "Reporting Person" and, collectively, the "Reporting Persons"), relating to the shares of the common stock, par value $0.001 per share (the "Common Stock"), of Tamboran Resources Corporation, a Delaware corporation (the "Issuer"). Capitalized terms used herein and not otherwise defined in this Amendment No. 7 have the meanings set forth in the Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows: The information set forth in Item 11 and Item 13 on each of the cover pages of this Amendment No. 7 are incorporated by reference into this Item 5(a). Sheffield Holdings is the record holder of 2,586,904 shares of Common Stock. Spraberry is the general partner of Sheffield Holdings. Bryan Sheffield is the manager of Spraberry. As a result, each of Mr. Sheffield and Spraberry may be deemed to share beneficial ownership of the shares held directly by Sheffield Holdings. In addition to the shares held by Sheffield Holdings, Mr. Sheffield, as investment trustee, may be deemed to beneficially own shares held by the Bryan S. Sheffield Spousal Lifetime Access Trust ("BSS SLAT"). In this regard, after giving effect to closing of the Institutional Entitlement Offer (as defined below), BSS SLAT is the record holder of 183,655 shares of Common Stock. Daly Waters is the record holder of 876,197 shares of Common Stock. Formentera Australia is the general partner of Daly Waters. Formentera Investments is the general partner of Formentera Australia. Bryan Sheffield is the managing member of Formentera Investments. As a result, each of Mr. Bryan Sheffield, Formentera Australia and Formentera Investments may be deemed to share beneficial ownership of the shares held directly by Daly Waters.
(b)	The information set forth in Items 7-10 on each of the cover pages of this Amendment No. 7 are incorporated by reference into this Item 5(b). References herein to percentage ownerships of Common Stock are based on 34,960,006 shares of Common Stock of the Issuer issued and outstanding as of September 23, 2026, as set forth in the Issuer's Annual Report on Form 10-K for the year ended June 30, 2026, which was filed with the Commission on September 25, 2026. In this regard, this Amendment No. 7 is being filed to report a greater than 1% decrease in certain of the Reporting Persons' beneficial ownership that was due solely to the increase in outstanding shares of Common Stock as disclosed by the Issuer.
(c)	Except as otherwise disclosed in this Amendment No. 7, the Reporting Persons have effected no transactions in Common Stock within the prior 60 days.
(d)	None
(e)	N/A

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Bryan Sheffield

Signature:	/s/ Bryan Sheffield
Name/Title:	Bryan Sheffield
Date:	09/29/2026

Sheffield Holdings, LP

Signature:	/s/ Bryan Sheffield
Name/Title:	Bryan Sheffield / Manager
Date:	09/29/2026

Spraberry Interests, LLC

Signature:	/s/ Bryan Sheffield
Name/Title:	Bryan Sheffield / Manager
Date:	09/29/2026

Daly Waters Energy, LP

Signature:	/s/ Bryan Sheffield
Name/Title:	Bryan Sheffield / Managing Member
Date:	09/29/2026

Formentera Australia Fund I GP, LP

Signature:	/s/ Bryan Sheffield
Name/Title:	Bryan Sheffield / Managing Member
Date:	09/29/2026

Formentera Investments LLC

Signature:	/s/ Bryan Sheffield
Name/Title:	Bryan Sheffield / Managing Member
Date:	09/29/2026

Comments accompanying signature:

Sheffield Holdings, LP By: Spraberry Interests, LLC, its general partner Daly Waters Energy, LP By: Formentera Australia Fund I GP, LP, its general partner By: Formentera Investments LLC, its general partner Formentera Australia Fund I GP, LP By: Formentera Investments LLC, its general partner