Tamboran launches US$198m equity raise to accelerate Beetaloo gas development

Tamboran Resources Limited ( (AU:TBN) ) has issued an update.

Tamboran Resources has launched a major equity raising of approximately US$198 million, combining an underwritten public offering and a pro rata accelerated non-renounceable entitlement offer at a discount to its last NYSE trading price. The company plans to issue about 5.7 million new shares, or equivalent CDIs, representing roughly 25% of its existing share base, to fund accelerated drilling in the Beetaloo Basin, resource delineation across key acreage and general corporate purposes.

Management said the capital will support additional wells, long-lead item procurement and infrastructure aimed at de-risking operations and establishing a production base to underpin future cash generation. The raise builds on recent validation of Tamboran’s Beetaloo acreage through partner farm-ins, reinforcing third-party confidence in its assets and development plan as it targets first gas and enhanced value creation for shareholders and stakeholders.

The most recent analyst rating on (AU:TBN) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Tamboran Resources Limited stock, see the AU:TBN Stock Forecast page.

More about Tamboran Resources Limited

Tamboran Resources Corporation is an oil and gas exploration and development company focused on the Beetaloo Basin in Australia. The company is advancing shale gas assets, targeting increased production for the Northern Territory gas market and positioning itself as a key upstream player supported by strategic partners and major oilfield service providers.

Average Trading Volume: 2,453,998

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$1.41B

See more data about TBN stock on TipRanks’ Stock Analysis page.