Tamboran Resources Corporation has successfully raised US$56.1 million through a Public Offering, issuing 2,673,111 shares of Common Stock at a price of US$21.00 per share.
After deducting underwriters’ discounts and offering expenses, the total proceeds amount to approximately US$52.5 million.
On October 23, 2025, the underwriters exercised their option to purchase an additional 348,666 shares of Common Stock at the Public Offering price, further strengthening Tamboran’s capital position.
The offering received cornerstone backing from key investors, including a US$10 million investment from new Strategic Partner, Baker Hughes.
As part of its involvement, Baker Hughes will provide industry-leading oilfield services and equipment while supporting optimisation and efficiency initiatives in Tamboran’s initial development.
Concurrently with the Public Offering, Tamboran entered into subscription agreements with certain investors for a Private Investment in Public Equity (PIPE), expected to generate up to US$29.3 million in gross proceeds.
The PIPE remains subject to shareholder approval under ASX Listing Rules 7.1 and 10.11, as well as other customary closing conditions.
Support for the PIPE includes a US$6.6 million investment from Tamboran’s largest shareholder, Bryan Sheffield, alongside Board member Scott Sheffield, subject to shareholder approval pursuant to ASX Listing Rule 10.11.
RBC Capital Markets, LLC, Wells Fargo Securities, LLC and BofA Securities acted as joint bookrunning managers for the Public Offering.
Tamboran also plans to launch a Share Purchase Plan (SPP) for existing eligible CHESS Depositary Interest (CDI) holders, allowing them to purchase shares at the same price per share as the Public Offering.
The company is targeting a full subscription of up to US$30 million in CDIs.
Proceeds from the Public Offering, PIPE and SPP will be directed toward funding Tamboran’s development plan, working capital, and general corporate purposes as the company continues advancing its Beetaloo Basin gas project.
Tamboran Resources Corporation Chairman and Interim CEO, Richard Stoneburner, said: “We thank our existing shareholders for their continued support in Tamboran and welcome new shareholders on our journey to delivering our world-class shale gas development of the Beetaloo Basin.
“The Strategic Partnership with Baker Hughes is an important step in our cost reduction initiative across our OFS activities in the Beetaloo Basin.”
Stoneburner said Baker Hughes now stands alongside Helmerich & Payne and Liberty Energy as one of Tamboran’s principal operational partners, strengthening the company’s drive toward achieving first gas from the Beetaloo Basin.
He added that proceeds from the offer will help secure long lead items for the 2026 drilling program, ensuring continued momentum as Tamboran advances towards the expected completion of the farmout process.
