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Tamboran Resources Corporation (symbol: TBN) is an innovative gas company dedicated to aiding the Net Zero CO2 energy transition in Australia and the Asia-Pacific region. The company primarily focuses on developing low CO2 unconventional gas resources in the Australian Northern Territory, positioning itself at the forefront of sustainable energy solutions.
Tamboran Resources is committed to leveraging advanced technology and strategic partnerships to minimize carbon emissions and enhance energy efficiency. Their core business revolves around the exploration, development, and production of natural gas, ensuring a reliable and eco-friendly energy supply.
Recent achievements by Tamboran Resources include significant progress in their Northern Territory projects, which are expected to play a pivotal role in the regional energy market. The company’s innovative approach to gas extraction aims to balance economic growth with environmental stewardship.
Financially, Tamboran Resources has demonstrated resilience and strategic growth, continuously investing in research and development to improve their gas extraction processes. The company’s robust financial condition is a testament to its effective management and forward-thinking strategies.
Tamboran Resources has forged valuable partnerships with key players in the energy sector, enhancing its operational capabilities and market reach. These collaborations are crucial for the company’s goal of contributing to a low-carbon future by providing cleaner energy alternatives.
Overall, Tamboran Resources Corporation stands as a significant entity in the energy transition landscape, with a clear mission to reduce carbon emissions and promote sustainable gas production. The company’s ongoing projects and strategic initiatives underscore its commitment to a greener and more sustainable future.
Tamboran Resources (NYSE: TBN, ASX: TBN) has commenced its Shenandoah South (SS) Pilot Project drilling program in EP 98. The company has spudded the SS-2H well, targeting the Middle Velkerri B Shale at a depth of approximately 9,910 feet. This will be followed by the SS-3H well, both designed with a 10,000-foot horizontal section and up to 60 stimulation stages each.
The drilling program utilizes Helmerich & Payne's super-spec FlexRig® Flex 3 rig and Liberty Energy's modern frac fleet, recently mobilized from the US. Initial flow test results are expected in Q1 2025, with production from the SS Pilot Project anticipated to commence in H1 2026, subject to approvals. This campaign represents the largest single campaign in the Beetaloo Basin to date.
Tamboran Resources (NYSE:TBN) announced the partial exercise of the underwriters' over-allotment option from its recent IPO. An additional 308,750 shares will be sold at US$24.00 per share, generating US$7.4 million in gross proceeds. The closing is expected on July 30, 2024, subject to customary conditions.
The funds will be used to support ongoing drilling activities for the proposed Shenandoah South Pilot Project in the Beetaloo Basin. This follows Tamboran's initial public offering of 3,125,000 shares at the same price. The original 30-day over-allotment option was granted in connection with the IPO.
Tamboran Resources has set the price for its upcoming US IPO at $24.00 per share.
The offering includes 3,125,000 shares, aiming to raise $75 million in gross proceeds. The funds will be used for drilling activities in the Beetaloo Basin's Shenandoah South Pilot Project.
Tamboran's shares will begin trading on the NYSE under the ticker 'TBN' on June 27, 2024. The offering is expected to close on June 28, 2024, pending customary conditions.
Underwriters have a 30-day option to purchase an additional 468,750 shares at the IPO price. BofA Securities, Citigroup, and RBC Capital Markets are leading the offering, with Johnson Rice & Company and Piper Sandler as co-managers.
The registration statement was declared effective by the SEC on June 26, 2024.
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