Tamboran Resources seeks partner for $139M project

• Tamboran Resources is in discussions with energy multinationals and Asian LNG buyers to fund long-term gas production in the Beetaloo Basin.
• Initial gas flows began this week at its US$99 million Shenandoah South gas plant near Daly Waters.
• The company aims to secure co-investors to fund regional expansion and supply domestic and export markets.

Tamboran Resources (ASX:TBN) has entered talks with global oil and gas firms to secure funding for expanding gas output in the Northern Territory's Beetaloo Basin.

The development follows the commencement of initial gas flows at its US$99 million gas facility near Daly Waters.

"We’re going to have a series of options, and we’ll pick the best strategy for our company," said Tamboran CEO Todd Abbott.

Production from the Shenandoah South plant is expected to ramp up to 40 terajoules a day within three months, with partners considering doubling that capacity.

Following the announcement, the Tamboran Resources share price was unchanged at $0.28.

The company recently completed a landmark deal in March that introduced Japanese government-backed Inpex into the Beetaloo Basin.

Additionally, Tamboran secured a three-to-five-year agreement with Liberty Energy to provide fracking services for its Northern Territory operations.