Tamboran Resources has reported significant operational and financial progress for the second quarter ending 31 December 2025, underscoring momentum across its Beetaloo Basin program and corporate developments into early 2026.
In January, Tamboran announced the appointment of Mr Todd Abbott as Chief Executive Officer. Abbott brings more than 20 years of upstream experience, with a strong track record in operational leadership, capital discipline, safety and stewardship.
During the quarter, Tamboran, on behalf of the Beetaloo Joint Venture, completed its first batch drilling program in the Beetaloo Basin. The Shenandoah South 4H, 5H and 6H wells were successfully drilled and cemented, each with approximately 10,000-foot horizontal sections in the Mid Velkerri B shale. In December, stimulation activities on the SS-6H well were finalised, comprising 58 stages over a 10,009-foot interval.
Construction of the Sturt Plateau Compression Facility (SPCF) reached 78 per cent completion by the end of January 2026. The project remains on budget and is on track for commissioning in the third quarter of 2026, weather permitting. The associated Sturt Plateau Pipeline, owned by APA Group, was completed during the quarter and has passed pressure and hydro testing, with imminent tie-in to the Amadeus Gas Pipeline anticipated.
Tamboran bolstered its balance sheet, raising US$67.4 million through a public offer and Share Purchase Plan, supported by strategic partner Baker Hughes. A US$32.0 million PIPE transaction was also approved and completed in January. As at 31 December, the company held US$90.9 million in cash and US$42 million in undrawn debt committed to SPCF completion, with further receipts expected from recent transactions in 2026.