Tamboran Resources successfully transitioned from explorer to producer post-quarter, delivering its first commercial gas from the Beetaloo Basin to the Northern Territory network in September 2026. While the company reported no revenue for the fourth quarter 2026 as sales commenced after the period close, it completed its primary compression facility under budget and maintained a strong liquidity position.
Key Highlights
- Commenced first gas sales in September 2026, targeting a 40 TJ/day (approximately 41.2 MMcf/day) take-or-pay contract with the Northern Territory Government.
- Completed construction of the Sturt Plateau Compression Facility for $90 million, coming in $9 million below the initial P50 budget forecast.
- Executed the largest stimulation campaign in the Beetaloo Basin to date, placing 178 stages across 30,000 lateral feet with record operational efficiency.
- Maintained a pro forma cash balance of $240 million, including $225 million in cash as of June 30 and $15 million in expected near-term acreage sale proceeds.