• Tamboran Resources has successfully completed stimulation, cleanout and completion activities of the Shenandoah South 3H (SS-3H), -4H and -5H wells in the Northern Pilot Area of the Beetaloo Basin. Stimulation activities were conducted by the Liberty Energy (NYSE: LBRT) frac fleet.

• The program was the first three-well zipper stimulation and the largest campaign ever conducted in the Beetaloo Basin, with 178 stages placed across ~30,000 feet within the Mid Velkerri B Shale formation.

• The stimulation program averaged 6.7 stimulated stages per day, with Beetaloo records in pumping operations exceeding 20 hours per day and 12 stages delivered in a single day.

• Tamboran also successfully placed the first Beetaloo Red locally produced sand within 10 stages across the lateral section within the SS-4H well, with tracers deployed to evaluate stage performance relative to imported sand.

• The wells are planned to be tied into the Sturt Plateau Compression Facility (SPCF), where construction is nearing completion and commissioning activities will commence imminently. The project remains within the A$141 million (~US$97 million) (gross) budget. First gas sales to the Northern Territory Government remain on track for 3Q 2026.

• Tamboran has also commenced drilling activities of the SS-7H, -8H and -9H wells with the Helmerich & Payne (NYSE: HP) rig on the SS1 well pad. The three wells are planned to be stimulated during 2H 2026 and tied into the SPCF when required.

Tamboran Resources Corporation Chief Executive Officer, Mr. Todd Abbott, said:

“The successful completion of the SS-3H, -4H and -5H stimulation program is a significant achievement for Tamboran and for the Beetaloo Basin. Delivering the largest stimulation campaign in the basin's history, including records of 12 stages in a single day and pumping operations exceeding 20 hours per day, is a testament to the skill and dedication of our operational team and partners, including Liberty Energy.

“Importantly, we have also achieved the first successful placement of Beetaloo Red locally produced sand in the SS-4H well. Together with the efficiency records set during this program, these trials represent further progress down the cost curve, and we continue to identify opportunities to optimize and improve performance as we move toward development.

“With the SPCF construction on schedule and within budget, we remain on track to deliver first gas sales to the Northern Territory Government in 3Q 2026. This is a milestone that will mark the beginning of a new era of energy production from the Beetaloo Basin, with potential to supply large-scale gas volumes and deliver energy security to the Northern Territory, Australia and trading partners in the Asia Pacific region.”

To view the full ASX Announcement, click here.

Source: Tamboran Resources