Tamboran Resources appoints new CEO

Tamboran Resources (ASX:TBN) announced the appointment of Todd Abbott as CEO, effective Jan. 15.

Abbott brings over 25 years of upstream oil and gas experience, including leadership roles in unconventional shale operations, corporate finance, and strategic planning.

He previously served as COO at Seneca Resources Company, overseeing the Marcellus and Utica shale, and held key operational positions at Marathon Oil Corporation and Pioneer Natural Resources, managing operations in the Permian Basin, Eagle Ford, and Alaska.

At Seneca, Abbott implemented organisational and process reforms that enhanced accountability and capital efficiency, achieving approximately a 10% reduction in capital expenditure and a 9% increase in production within a year.

Tamboran’s Chairman and interim CEO, Richard Stoneburner, will continue as Chairman, welcoming Abbott's appointment. Stoneburner noted that Abbott's track record in operational leadership, capital discipline, and productivity improvement aligns with Tamboran’s objectives as it advances the development of the Beetaloo Basin, aiming to enhance energy security for the Northern Territory and Australia's East Coast.

Abbott expressed enthusiasm for leading Tamboran into this next phase, emphasising collaboration with stakeholders, including Native Title holders, government authorities, pastoralists, and shareholders, to realise the project's potential as a world-class unconventional gas development.

At the time of reporting, Tamboran Resources' share price was $26.19.