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.
Tamboran Resources Corp. reported a $30.5 million net loss for fiscal 2026, compared with $39.6 million in fiscal 2025, while net cash used in operating activities was $34.6 million versus $29.6 million. Cash and cash equivalents stood at $219.1 million on June 30, 2026. Net cash from financing activities was $412.3 million, including $291.0 million in net proceeds from share issues. The company estimates it will need to invest approximately $113.3 million during fiscal 2027 to advance its Pilot Project.
The company remains in exploration and appraisal and said substantial production revenue is not expected until early calendar 2027 at the earliest, depending on drilling results, gas-processing facility commissioning, timely additional funding and infrastructure access. Its auditor said recurring operating losses raise substantial doubt about its ability to continue as a going concern. Tamboran also reported a material weakness in internal control over financial reporting as of June 30, 2026, involving management-review documentation and IT access and segregation controls. Remediation continues; management said the weakness will not be considered remediated until controls operate for sufficient time and testing shows they are effective.
Tamboran Resources Corporation (TBN) reported first gas sales from the Beetaloo Basin to the Northern Territory gas market in early September 2026. The Northern Territory Government was nominating 25 TJ/d as demand emerged from its lower-demand season; the contracted plateau is 40 TJ/d, and rates are expected to ramp in line with nominations. The company completed construction of the Sturt Plateau Compression Facility (SPCF) in August, on time and about US$9 million below forecast budget, with capital expenditure tracking US$90 million; commissioning was expected to finish in 4Q 2026.
The Beetaloo joint venture completed 178 stimulation stages across approximately 30,000 lateral feet and placed locally sourced Beetaloo Red Sand across 10 stages. At June 30, 2026, Tamboran reported US$240 million in cash and expected near-term inflows, US$30 million net drawn debt and US$31 million undrawn debt. It completed the Falcon Oil & Gas Ltd acquisition in May 2026, issuing 6,537,503 common shares to eligible Falcon shareholders. The report also states that recurring operating losses, negative cash flows and cumulative net losses raise substantial doubt about Tamboran’s ability to continue as a going concern.
Tamboran Resources Corporation (TBN) furnished an investor presentation describing progress in developing its Beetaloo Basin natural gas assets and providing an operational and capital overview. The company holds 2.8 million net prospective acres across the Beetaloo East and West depocenters and reports multi-bench shale potential with more than 12,000 gross drilling locations across key benches based on 10,000-foot laterals.
The Shenandoah South Pilot Project has reached Final Investment Decision and is targeting imminent first gas sales, with 40 TJ/d (gross) from the pilot contracted to the Northern Territory Government under a fixed-price, CPI‑escalated take‑or‑pay agreement for an initial ~9‑year term. The Sturt Plateau Compression Facility is complete, being commissioned, and was funded largely with project debt partially backstopped by the Northern Territory Government. As of March 31, 2026, Tamboran shows US$298 million in cash and expected near‑term inflows, drawn debt of US$23 million, and an enterprise value of US$1.02 billion, implying about US$364 per acre. The presentation outlines plans to reduce well costs toward US$16 million per 10,000‑foot horizontal well, trials of in‑basin sand and local water sourcing, and upcoming drilling and stimulation campaigns through 2027.
HITE Hedge Asset Management LLC and affiliates reported passive ownership in Tamboran Resources Corporation. The group, including HITE Hedge Asset Management LP and Robert Matt Niblack, disclosed beneficial ownership of 2,881,804 shares of Tamboran common stock, representing 8.27% of the outstanding class.
The filing states that the reporting persons hold shared voting and dispositive power over all 2,881,804 shares, with no sole voting or dispositive power. Tamboran’s securities covered are common stock with a par value of $0.001 per share.
Liberty Energy Services LLC and its parent Liberty Energy Inc. report their Tamboran Resources Corporation common stock position in an Amendment No. 1 to a Schedule 13G. The filing states beneficial ownership of 1,336,127 shares of Tamboran common stock, representing 3.8% of the class, based on 34,856,412 shares outstanding as of May 28, 2026. All voting and dispositive power over these shares is reported as shared, with no sole power. The filers note that Liberty Energy Inc. is the sole member of Liberty Energy Services LLC and may be deemed to indirectly own these shares, while disclaiming beneficial ownership except to the extent of pecuniary interest. The position is explicitly identified as 5% or less of the class.
Tamboran Resources Corporation reports that on May 28, 2026 it completed the acquisition, through subsidiaries, of all subsidiaries of Falcon Oil & Gas Ltd. under an Arrangement Agreement, for 6,537,503 Tamboran common shares plus US$23,663,080 cash for certain shareholders. Tamboran provides Falcon’s audited 2024–2025 financial statements, unaudited interim results for the three months ended March 31, 2026, and unaudited pro forma condensed combined financial information.
Falcon generated no oil and natural gas revenue in 2024 or 2025 and recorded a net loss of 2,596 $’000 in 2025 after a 2,965 $’000 loss in 2024; the loss for the three months ended March 31, 2026 was 1,251 $’000. At December 31, 2025 Falcon held total assets of 61,089 $’000, including 56,797 $’000 of exploration and evaluation assets, against a decommissioning provision of 17,261 $’000 and equity of 42,069 $’000. Falcon’s auditors draw attention to substantial doubt about Falcon’s ability to continue as a going concern; management cites funding support from Tamboran and an expected Australian R&D tax incentive of about US$2.0 million.
Tamboran Resources Corp reported that entities associated with Bryan S. Sheffield acquired 339,500 shares of common stock on May 28, 2026. The shares were issued to Sheffield Holdings, LP in exchange for Falcon Oil & Gas Ltd. common shares at a 0.00687-for-1 share ratio under an arrangement agreement; no cash was paid. Following the exchange, the reporting group’s indirect holdings totaled 3,646,756 Tamboran securities held through Sheffield Holdings, Daly Waters Energy, LP and a spousal trust, with beneficial ownership disclaimed beyond each party’s pecuniary interest.
SIEGEL DAVID N reported acquisition or exercise transactions in this Form 4 filing.
Tamboran Resources director David N. Siegel reported a compensation-related equity grant and updated holdings. He received an award of 2,975 restricted stock units (RSUs), each representing a contingent right to one share of Common Stock at no cash cost. The RSUs vest on the earlier of June 1, 2027 or the next annual shareholders' meeting, subject to continued service, and settlement of the common stock has been deferred. Following the grant, he directly holds 358,221 shares of Common Stock, with an additional 122,500 shares reported as indirectly owned by his son.
Barrett Fredrick J reported acquisition or exercise transactions in this Form 4 filing.
Tamboran Resources director Fredrick J. Barrett received a grant of 2,975 restricted stock units (RSUs) of Common Stock at no cash cost. These RSUs vest on the earlier of June 1, 2027 or the next annual shareholders' meeting, subject to his continued service. After this award, Barrett holds 40,498 shares directly and 32,228 shares indirectly through a joint account.