Tamboran Completes Acquisition of Falcon Oil & Gas Subsidiaries, Expanding Beetaloo Basin Acreage

summarizeSummary

Tamboran Resources completed its acquisition of Falcon Oil & Gas subsidiaries, expanding its Beetaloo Basin acreage through the issuance of 6.54 million shares and a cash payment, with plans for an active 2026 operating program.

check_boxKey Events

• Acquisition Completed

  Tamboran Resources completed the acquisition of all subsidiaries of Falcon Oil & Gas Ltd. on May 28, 2026, as previously announced.

• Strategic Acreage Expansion

  The acquisition results in Tamboran holding approximately 2.8 million net prospective acres, establishing it as the largest acreage holder in the Beetaloo Basin depocenter.

• Consideration Details

  Tamboran issued 6,537,503 shares of its common stock and paid $23,663,080 in cash to Falcon. This share issuance represents approximately 23% dilution for existing shareholders.

• Future Operating Plans

  The company plans its most active year of operations in the Beetaloo Basin for 2026, including drilling at least four wells and stimulating at least five, with first gas sales from the Pilot Project on track for Q3 2026.

auto_awesomeAnalysis

Tamboran Resources has completed the acquisition of Falcon Oil & Gas Ltd.'s subsidiaries, a strategic move that significantly expands its acreage in the Beetaloo Basin. This transaction involved issuing 6.54 million new shares, resulting in approximately 23% dilution for existing shareholders, along with a cash payment of $23.66 million. The acquisition is framed as a logical consolidation, positioning Tamboran with the largest acreage in the Beetaloo depocenter and enabling an active 2026 operating program, including drilling and stimulation, with first gas sales from the Pilot Project expected in Q3 2026.