Tamboran Resources (ASX:TBN) announced a capital raise of up to US$198 million.
The funding initiative is designed to fast-track development activities within the Beetaloo Basin, a region increasingly viewed as a critical hub for future natural gas production.
The centrepiece of this financial campaign was a registered underwritten public offering that secured US$103 million at an offer price of US$35.00 per share.
This was further bolstered by a 1-for-10 accelerated non-renounceable entitlement offer, with the institutional component already contributing approximately $86 million.
The capital injection is earmarked for a series of high-impact operational milestones. Primary objectives include additional drilling in the Pilot Area and resource delineation across the Orion Acreage and the Beetaloo Central Development Area.
CEO Todd Abbott highlighted the strategic importance of this period, noting that the company is entering its most active two-year window to date.
Tamboran remains on track to deliver its first gas sales in the third quarter of 2026, with the new funds supporting operations through 2028.
Beyond exploration, the proceeds will provide working capital to potentially increase production above the currently contracted 40 terajoules per day supplied to the Northern Territory.
At the time of reporting, Tamboran Resources’ share price was $0.26.