Tamboran completes $173m Falcon acquisition after court approval

1 hour ago 1

Salong Debbarma

Mon, June 1, 2026 astatine 9:51 AM CDT 2 min read

Natural state institution Tamboran Resources has completed the antecedently announced C$239m ($172.9m) acquisition of Falcon Oil & Gas pursuing last support by a Canadian court.

With this transaction, Tamboran present holds astir 2.8 cardinal nett prospective acres, the largest presumption successful the Beetaloo Basin successful Australia's Northern Territory.

The woody was signed successful September 2025.

When the acquisition was announced, Tamboran said combining with Falcon was a logical consolidation of 2 starring Beetaloo Basin businesses. Furthermore, Tamboran said that it would make a institution with a pro forma marketplace capitalisation of much than $500m.

Under the transaction terms, Tamboran agreed to get Falcon by purchasing each of the latter’s subsidiaries successful speech for astir 6.54 cardinal shares of Tamboran communal banal listed connected the New York Stock Exchange and $23.7m successful cash.

Tamboran CEO Todd Abbott said: “This acquisition represents a logical consolidation betwixt the 2 companies.

“Our absorption present turns to the 2026 operating programme, which is planned to beryllium our astir progressive twelvemonth of operations successful the Beetaloo Basin, including the drilling of astatine slightest 4 wells and stimulation of astatine slightest five.”

The institution has begun a three-well stimulation run connected the Shenandoah South 2 (SS2) good pad successful the Beetaloo Basin. These wells are acceptable to beryllium connected to the Sturt Plateau Compression Facility successful the 3rd 4th of 2026.

The stimulation run is being delivered successful concern with Tamboran’s associated task (JV) partner, Daly Waters Energy. Tamboran said that this represents a further cardinal milestone successful progressing the Beetaloo JV.

The enactment volition usage Liberty Energy’s stimulation and wireline equipment.

Tamboran said that these are the last wells needed to fulfil the Beetaloo JV’s work to proviso state nether the Northern Territory Government’s 40 terajoules of vigor per time state income agreement. Initial state income from commissioning of the aviator task are besides scheduled for the aforesaid period.

"Tamboran completes $173m Falcon acquisition aft tribunal approval" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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