Tamboran Resources’ $100 million Beetaloo project success
The Northern Territory Government is backing, attracting and facilitating investment and development in the Beetaloo, delivering on the plan to grow the NT economy, strengthen energy security, and increase long-term royalty revenue for Territorians.
The Northern Territory Government has welcomed Tamboran Resources’ successful capital raising of US$55.4 million (A$85 million) through a Private Investment in Public Equity (PIPE) arrangement, a strong show of investor confidence in the Beetaloo Sub-basin and its future production potential.
Tamboran’s financial position has been further strengthened through a checkerboarding acreage agreement with Daly Waters Energy and the acquisition by Daly Waters Energy of a non-operating interest in 100,000 acres of Beetaloo acreage, valued at $15 million.
Through this arrangement, Daly Waters Energy will also become an operator of acreage in the Beetaloo Sub-basin, which will further advance development in the Territory.
Together, these investments represent a significant vote of confidence in the long-term development of the Beetaloo and the growing role of the NT in delivering cleaner, more affordable and more secure energy solutions to Australia and the region.
Following this successful capital raise, Tamboran Resources expects to be fully funded to drill and complete the remaining three wells required to deliver first gas under its Shenandoah South Pilot Project by mid-2026.
Tamboran Resources has also commenced IP30 (30-day initial production) flow testing at its Shenandoah South 2H sidetrack well (SS-2H ST1), with results expected in June.
These results will provide critical data for further investment decisions and underline the production capacity of the Beetaloo Sub-basin.
Tamboran’s Shenandoah South Pilot Project is expected to begin supplying around 40 terajoules of gas per day to the Territory market by mid-2026.
