Tamboran Prices $103.5M Stock Offering

The offering will fund drilling in the Pilot Area, Orion, Beetaloo Central and EP 161 acreage.

Apr. 8, 2026 at 1:38am

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An extreme close-up of industrial drilling equipment, with a focus on the intricate mechanical components and textures, conveying the technical complexity and scale of the oil and gas industry.Tamboran's capital raise will fund critical drilling and development activities in the Beetaloo Basin, a key unconventional gas play in Australia.NYC Today

Tamboran Resources Corporation, an independent natural gas exploration and production company focused on the Beetaloo Basin in Australia, has priced a $103.5 million underwritten public offering of 2,956,602 shares of common stock at $35 per share. The company has also granted the underwriters a 30-day option to purchase up to an additional 443,491 shares.

Why it matters

The capital raised from this offering will allow Tamboran to accelerate its drilling and development activities in the Beetaloo Basin, which is considered one of the most promising unconventional gas plays in Australia. As a leading acreage holder in the basin, Tamboran's ability to fund its growth plans is crucial for unlocking the region's natural gas potential.

The details

The net proceeds from the offering will be used to fund additional drilling in the Pilot Area, resource delineation in the Orion Acreage and the Beetaloo Central Development Area, as well as drilling in the EP 161 acreage. The funds will also be used for working capital and other general corporate purposes. The offering is expected to close on April 9, 2026, subject to customary closing conditions.

  • The offering was priced on April 7, 2026.
  • The offering is expected to close on April 9, 2026.

The players

Tamboran Resources Corporation

An independent natural gas exploration and production company focused on the Beetaloo Basin in Australia.

RBC Capital Markets, LLC

One of the joint book-running managers for the underwritten offering.

Wells Fargo Securities, LLC

One of the joint book-running managers for the underwritten offering.

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What’s next

The offering is expected to close on April 9, 2026, subject to customary closing conditions.

The takeaway

This capital raise will allow Tamboran to accelerate its exploration and development activities in the Beetaloo Basin, which is considered one of the most promising unconventional gas plays in Australia. As a leading acreage holder in the basin, Tamboran's ability to fund its growth plans is crucial for unlocking the region's natural gas potential.