Australian public natural gas company Tamboran Resources Corporation has entered into a strategic partnership and received $15.2 million in equity investments from North American energy services firm Liberty Energy.
Tamboran Resources Corporation Managing Director and CEO Joel Riddle said the agreement follows the partnership with Helmerich and Payne (H&P) — which imported a modern US drilling rig in the Beetaloo Basin in 2023 and aims to result in material cost reduction and improved efficiency across the company’s operations.
“The supply of stimulation equipment to the Beetaloo Basin is Liberty’s first outside of North America and we look forward to working with them for many years to come.
“Tamboran and Liberty are aligned on the common vision of proactively addressing global energy poverty by securing new supply of reliable and affordable energy,” said Riddle.
Under the partnership, Liberty Energy plans to import a modern frac fleet and crew into the Beetaloo Basin in 2024 to support the stimulation campaign with operational and subsurface engineering expertise for Tamboran’s proposed 40 million cubic feet per day (MMcf/d) Shenandoah South Pilot Project — which is planned to commence production in 2026.
Through its subsidiary, Tamboran Infrastructure (TBI), Tamboran has applied for 14 extractive mineral exploration licences in close proximity to the proposed Shenandoah South Pilot Project for the evaluation and future extraction of frac sand.
The frac fleet will also hopefully provide a reduction in delays experienced in mobilising equipment to the site, in turn, increasing completion efficiencies and reducing the costs of future stimulation programs.
Liberty Energy Chairman and CEO Chris Wright said: “Natural gas is by far the world’s fastest growing energy source because of its myriad uses and compelling advantages.
“Significant Beetaloo gas production could help energise Australia’s future and help meet Asia’s insatiable demand for natural gas to power economic growth, improve air quality, and lower greenhouse gas emissions.”
