What acquisition did Tamboran Resources (ASX:TBN) just finalise?

Tamboran Resources has completed the acquisition of Falcon Oil & Gas Ltd. subsidiaries following final approval from the Supreme Court of British Columbia. This transaction gives Tamboran full control over the acquired assets and expands its total portfolio to approximately 2.8 million net prospective acres.

How does the Falcon Oil & Gas acquisition change the long-term story for Tamboran Resources (ASX:TBN)?

This acquisition shifts Tamboran from a player holding fragmented assets into the dominant landholder in the Beetaloo Basin depocentre. By consolidating these areas, management has secured the largest single acreage position in a highly coveted energy region.

How many shares did Tamboran Resources (ASX:TBN) issue to fund this deal, and what is the dilution impact?

Tamboran issued 6,537,503 shares of common stock to eligible Falcon securityholders as part of the closing terms. This brings Tamboran’s total shares on issue—including equivalent CHESS Depositary Interests (CDIs)—to 34,856,412.

What is the new market capitalisation of Tamboran Resources (ASX:TBN) after the transaction?

Following the asset consolidation, Tamboran's pro forma market capitalisation has risen to approximately US$1.2 billion. This valuation is calculated based on the closing trading values on the New York Stock Exchange (NYSE) as of 27 May 2026.

What are the key operational targets for Tamboran Resources (ASX:TBN) under its 2026 programme?

CEO Todd Abbott confirmed that the company is launching its most intensive operational campaign to date for the 2026 asset development programme. The main targets include drilling at least four new exploration wells and executing the stimulation of five wells.

What immediate field operations are underway for Tamboran Resources (ASX:TBN)?

Tamboran has already commenced a three-well stimulation programme on its SS2 well pad. These ongoing field operations represent the first practical steps of its accelerated 2026 development campaign.

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Tamboran Resources finalises Falcon acquisition

Written by Jon CuthbertPublished May. 29 2026Last Updated May. 29 2026

Tamboran Resources (ASX:TBN) finalised its acquisition of Falcon Oil & Gas subsidiaries, following definitive sanction from the Supreme Court of British Columbia.

The transaction firmly establishes Tamboran as the dominant player in the Northern Territory's energy landscape, expanding its portfolio to approximately 2.8 million net prospective acres and securing the largest single acreage position within the highly coveted Beetaloo Basin depocentre.

As part of the closing terms, Tamboran issued 6,537,503 shares of common stock to eligible Falcon securityholders, bringing its total shares on issue—including equivalent CHESS Depositary Interests—to 34,856,412.

Based on trading values from the New York Stock Exchange as of May 27, the consolidation elevates Tamboran's pro forma market capitalisation to an impressive US$1.2 billion.

With corporate integration underway, operational focus immediately shifts to the company's ambitious 2026 asset development programme.

CEO Todd Abbott confirmed that this will be the company's most intensive operational campaign to date, headlined by the drilling of at least four new exploration wells and the stimulation of five.

Field operations have already commenced on the SS2 well pad with a three-well stimulation programme.

The assets are scheduled to be tied into the critical Sturt Plateau Compression Facility during the third quarter of 2026.

Management has reaffirmed that commercial operations remain strictly on schedule, with inaugural gas sales from the pilot project's formal commissioning safely on track for realisation in the third quarter of 2026.

At the time of reporting, Tamboran Resources' share price was $0.23.