Tamboran Resources Reports Progress in Beetaloo Basin

Tamboran Resources Corporation ( (TBN) ) has released its Q2 earnings. Here is a breakdown of the information Tamboran Resources Corporation presented to its investors.

Tamboran Resources Corporation is a prominent player in the energy sector, specializing in natural gas exploration and production, primarily in the Beetaloo Sub-basin within the Greater McArthur Basin in Australia’s Northern Territory.

In its latest quarter, Tamboran Resources Corporation reported significant progress in its drilling operations, marking advancements in its Shenandoah South Pilot Project. The company successfully drilled two wells, SS-2H ST1 and SS-3H, with the latter achieving a record horizontal section in the Mid Velkerri B Shale. Additionally, the company secured important agreements and funding to support its infrastructure development.

Key highlights of the quarter include the completion of drilling and stimulation of the SS-2H ST1 well, which set new performance records in the Beetaloo Basin. However, completion operations for the SS-3H well were temporarily paused to address casing stress issues, with plans to resume in the first half of 2025. The company also entered into binding agreements with APA Group to develop essential pipeline infrastructure and secured a $23 million line of credit from Macquarie Bank to support these initiatives.

Tamboran’s strategic collaboration with Santos Limited to explore potential expansions in the Darwin LNG facility signifies its commitment to enhancing its operational footprint. The company also completed a groundbreaking methane satellite monitoring campaign, showcasing its dedication to environmental responsibility.

Looking ahead, Tamboran Resources remains focused on achieving first gas production by 2026, with infrastructure projects progressing on schedule. The company’s continued efforts in responsible gas production and strategic partnerships position it well for future growth in the energy sector.