Tamboran Resources

Tamboran Resources announced the pricing of its stock offering of 2,324,445 shares at $21.00 per share, expected to close on October 24, 2025, pending standard conditions. The offering, managed by RBC Capital Markets, Wells Fargo Securities, and BofA Securities, anticipates gross proceeds of approximately $48.8 million. Tamboran plans to use the funds for its development plan in the Beetaloo Basin, working capital, and general corporate purposes. The Beetaloo Basin represents a significant natural gas resource for Australia but faces risks including price fluctuations and regulatory hurdles.

Tamboran Resources Corporation announced Dick Stoneburner as interim CEO, succeeding Joel Riddle, and the appointment of Scott Sheffield and Phillip Pace as Non-Executive Directors, replacing John Bell Sr. These changes maintain a nine-member board. Sheffield and Pace bring extensive energy expertise. The company entered an agreement with Sheffield Holdings, its major stockholder. Tamboran reaffirms its commitment to the Beetaloo Basin development and thanked Riddle and Bell for their service.