Tamboran Resources Ltd
ASX:TBN
Tamboran Resources Ltd
Tamboran Resources Ltd. operates as an exploration company for oil and gas resources. The principal activities of the Company focus on shale gas exploration in onshore basins in the Northern Territory of Australia. The firm is engaged in developing early-stage, low carbon dioxide (CO2) natural gas resources within its portfolio. Its portfolio consists of EP 136, EP 143, EP 161 and EP(A) 197. The basin is located in the Beetaloo Sub-basin in the Northern Territory of Australia, approximately 600 kilometers (kms) south of Darwin. The firm's wholly owned subsidiary includes Sweetpea Petroleum Pty Ltd.
Tamboran Resources Ltd. operates as an exploration company for oil and gas resources. The principal activities of the Company focus on shale gas exploration in onshore basins in the Northern Territory of Australia. The firm is engaged in developing early-stage, low carbon dioxide (CO2) natural gas resources within its portfolio. Its portfolio consists of EP 136, EP 143, EP 161 and EP(A) 197. The basin is located in the Beetaloo Sub-basin in the Northern Territory of Australia, approximately 600 kilometers (kms) south of Darwin. The firm's wholly owned subsidiary includes Sweetpea Petroleum Pty Ltd.
Drilling Performance: Tamboran set a Beetaloo Basin record by drilling the SS-3 well at 840 feet per day and completed it 43% faster than the previous well, SS-2.
Flow Test Targets: The company aims for IP30 flow test results of over 10.7 million cubic feet per day from SS-2 in April and over 19 million cubic feet per day from SS-3 in June.
Cost Reduction: Drilling cost for SS-3 was about $10 million, with further reductions expected in future wells due to local sand sourcing and operational efficiencies.
Project Timeline: The Shenandoah South pilot project is on track for first gas in the first half of 2026, supported by a 15-year, 40 million cubic feet per day sales agreement.
Cash Position: Tamboran ended the quarter with $59.4 million in cash, including a $6.2 million R&D grant, and is fully funded for upcoming well tests.
Strategic Progress: Signed agreements for a pipeline with APA Group, pursued a data center supply strategy, and entered an MOU with Santos for LNG expansion studies.
