Full Transcript: Tamboran Resources Q3 2026 Earnings Call

Tamboran Resources (NYSE: TBN ) released third-quarter financial results and hosted an earnings call on Wednesday.

Read the complete transcript below.

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For comprehensive financial data and transcripts, visit The full earnings call is available at Summary Tamboran Resources Corporation announced a significant farm-out transaction with Daily Waters Energy, involving 10,000 acres in the Beetaloo Basin, enhancing asset valuation and financial position.

The company progressed its strategy towards first gas production in the Beetaloo Basin, with the Stur Plateau compression facility nearing completion and first gas sales expected in the third quarter of 2026.

Tamboran raised $198 million through a public offer, significantly bolstering its financial flexibility with a pro forma cash position of $298 million.

Operational highlights include preparations for well stimulation in the Northern Territory and collaboration with Santos on the EP161 acreage for upcoming drilling activities.

Management emphasized the strategic importance of energy security in light of global geopolitical tensions, reinforcing the potential of the Beetaloo Basin as a significant gas resource.

Full Transcript OPERATOR Greetings.

Welcome to Tamboran Resources third quarter financial year 2026 earnings call.

At this time, all participants are in a listen-only mode.

A question and answer session will follow the formal presentation.

If anyone should require operator assistance during the conference, please press star-zero on your telephone keypad.

Please note this conference is being recorded.

I will now turn the conference over to Todd Abbott, Chief Executive Officer.

Thank you.

You may begin.

Todd Abbott, Chief Executive Officer Hello everyone and welcome to Tamboran Resources financial year 2026 third quarter earnings presentation.

My name is Todd Abbott and I'm the Chief Executive Officer of Tamboran Resources.

I'm joined here today by Chief Financial Officer Eric Dyer and Vice President Investor Relations and Corporate Development Chris Morbey.

I'm going to take a different approach to our earnings call from now on and rather than go through each slide individually, I'm going to speak to key highlights, operational updates, upcoming catalysts and then move straight to the Q and A and the remainder of the presentation is going to be here for your information.

Moving to slide two, you can see our disclaimer which relates to forward-looking statements within the presentation and I encourage you to review that at your convenience.

Slide 3, the March 2026 quarter was eventful for Tamboran and we saw several major steps forward as we continue to execute our Beetaloo Basin strategy and progress towards first production from the pilot area.

In the third quarter of this calendar year, we announced a significant transaction with our Beetaloo Basin partners, Daily Waters Energy, to farm out approximately 10,000 acres across the pilot area and Beetaloo Central Development Area for a stage carry of up to 28.5 million US.

This transaction was conducted on very similar economic terms to the farming agreement between Daily Waters Energy and INPEX, and the INPEX and Daily Waters transaction has placed a significant data point for high-quality core Beetaloo Basin acreage which mirrors our farm-out acreage across the lease line in the Orion Block and it also represents a significant step up from where Tamboran is currently trading.

On completion of the transaction with Daily Waters Energy, we will hold a 44.375% interest in the pilot area and 10% interest in the Daily Waters Energy acreage.

We continue to progress our joint venture on the Orion Block north of the pilot area and a lot has changed since our last call.

The INPEX transaction has re-rated the basin and our follow-on deal with Daily Waters Energy has provided a carry to our near-term capital program.

Those are two of the most important advantages of any farm-out and I want to be clear we continue to believe a joint venture with a strategic partner is important and these discussions are continuing.

The upward movement in asset valuation markers, progress in de-risking the Beetaloo, first gas sales coming closer, strong interest in the Australian natural gas assets, and a number of additional tailwinds put us in a strong position.

The ongoing events in the Middle East have also amplified the importance of energy security and highlight the value of the Beetaloo as a large, low in-situ CO2 gas resource in the Asia Pacific region.

That, along with the entry of INPEX, a sophisticated and very credible international gas company, have significantly increased attention on the basin.

Given that some of these companies are well advanced in their understanding of the asset and some are just now engaging in their process, it's very difficult to predict the timing, but with our recent capital raise, we have financial flexibility to focus on the right partnership and the appropriate value while continuing to de-risk asset development activities for the pilot project.

Progressed throughout the quarter despite the challenging weather conditions.

Construction on the Stur Plateau compression facility was 88% complete at the end of April with strong progress made on the installation of electrical instrumentation controls and piping and importantly, we remain within the P50 budget and schedule forecast for the project with first gas on track for the third quarter of this calendar year.

The APA-owned pipeline connecting the facility to the Northern Territory Gas Network is undergoing final commissioning ahead of tie-in to the SPCF and full credit goes to the Tamboran Operations team and contractors for the safe execution of the project.