Industry News

Tamboran Resources says it is edging closer to first gas from the Beetaloo Basin, with CFO Eric Dyer telling investors the company is now "on the cusp" of converting years of exploration into what it hopes will become Australia's first commercial onshore unconventional gas project. 

Speaking at an Energy Club NT event in Darwin last night, Dyer said Tamboran's Shenandoah South pilot development – designed to supply the Northern Territory market as output from the ageing Blacktip gas field declines – had cleared several key hurdles, including final investment approval, traditional owner consent and the drilling of three horizontal pilot wells. 

"We are de-risking it constantly," Dyer said.

"The data proves itself…this is the first economic shale project in Australia." 

Over the past year, Tamboran has strengthened its balance sheet through a combination of equity raisings and asset sales, providing sufficient funding to drill, complete and test its pilot wells and advance processing and transport infrastructure. The company has also flagged that substantially larger capital commitments will be required as it shifts from pilot output to sustained, multi-well production. 

The pilot project has attracted support from major international oilfield services groups, including Baker Hughes and Liberty Energy, which are supplying drilling and hydraulic fracturing equipment for the Beetaloo campaign. Tamboran says the deployment of modern shale technology has underpinned record drilling performance in the Territory. 

Equally critical is the transport pathway. Tamboran has secured a connection to market via the 37-kilometre Sturt Plateau Pipeline, being built by APA Group, which will link the Beetaloo to the existing Amadeus Gas Pipeline. Construction is underway, with APA targeting early-2026 commissioning, enabling first commercial gas deliveries to the Territory around mid-2026. 

Infrastructure delivery and funding remain the project's main execution risks. While the pilot project is financed, investors are closely watching whether drilling, flow testing, compression facilities and pipeline timelines remain aligned as Tamboran attempts to transition from appraisal into production. 

The stakes extend well beyond the Northern Territory. Tamboran ultimately wants to push gas into the east coast market, where structural shortfalls are forecast later this decade as legacy Queensland and Victorian fields decline. Success in the Beetaloo would add a new onshore supply source into a tightening domestic gas system. 

Dyer said Beetaloo gas could play a dual role, underpinning Territory energy security while also supporting the energy transition on the eastern seaboard by displacing higher-emissions coal-fired generation. 

"Gas is about 70% less CO₂-intensive than coal," he said.

"Every coal-fired power station on the east coast is under stress… gas can be there to solve it." 

Tamboran's longer-term ambitions reach further still. The company has secured land at Darwin's Middle Arm industrial precinct and is studying options for processing, energy-intensive industry and, potentially, LNG exports linked to future fibre-optic cable landfalls and data-centre development in the Top End. 

Source: Energy News Bulletin

The Territory’s latest Mid-Year Budget Report shows the NT economy is strengthening, population growth is accelerating, and responsible financial management is firmly back on track under the Finocchiaro CLP Government.

The report, tabled today, shows the CLP’s first budget is delivering significant budget improvements drawn by a burgeoning economy and strong revenue growth.

It highlights a range of positive indicators led by an increase in GST, a significant uptick in own-source revenue and a slow-down in the net debt accumulated under Labor.

• Over the forward estimates, net debt had improved by $387 million to 2028-29 showing that this Government’s budget repair strategy is working
• As a result of population and economic growth, total revenue (Including GST payments and own source revenue) has increased by $617 million
• Private investment grew by 4.1% in 2024-2025, reflecting strong expenditure in the mining sector
• Increased payroll revenue of $11 million, driven by strengthening wages and business expansion
• Solid population growth of 1.3% from the year to March

As a result of this, the fiscal balance is projected to improve in aggregate by $369 million across the budget cycle.

NT Treasurer Bill Yan said the result showed the Finocchiaro CLP Government was delivering on its promise to rebuild the economy.

“We are continuing to turn debt, deficits, and mismanagement inherited from the Lawler legacy into an economy that’s heading in the right direction,” he said.

“With a reduction in the net debt we are accumulating, we’re borrowing less to fund essential services and putting the taxpayer in a better position.”

Further confirming the NT’s economic turnaround, Moody’s credit rating agency, who rate 90% of the world’s public debt, gave the NT's borrowings a stable outlook.

The Business Council of Australia supports this ranking with the NT now ranked third best place in Australia to do business according to their Regulation Rumble 2025 report.

Meanwhile the CBA’s CommSec State of the States report continues to give the NT the best ranking in nearly a decade buoyed by economic growth, population growth, housing finance, and dwelling starts.

And Deloitte Access Economics reports the NT economy’s Gross State Product is forecast to grow 6.8% this financial year, the fastest growth nationally.

Minister Yan said the CLP Government’s Rebuilding the Economy strategy was driving results across industry, population and employment.

“We remain committed to outpacing the nation in economic performance by harnessing the Territory’s natural strengths, and ensuring all Territorians benefit,” he said.

“This is what the Finocchiaro CLP Government was elected to do, returning the NT to a place where more people want to live, work, visit and invest.

The report is available on the NT Treasury web page here.

Source: Northern Territory Government Newsroom

Darwin Port is delighted to be awarded winner of ‘Port or Terminal of the Year’ at the annual Daily Cargo News 2025 Australian Shipping & Maritime Industry Awards.

The winners were announced last Thursday night at a special event held at the Shangri-La Hotel in Sydney.

Darwin Port were one of a number of finalists in the category which included NSW Ports, Patrick Terminals - Brisbane, AutoStrad, Pilbara Ports, Port of Brisbane, Port of Newcastle, Southern Ports, Squadron Energy and the Victoria International Container Terminal.

In announcing the winner, the judges commended Darwin Port for the significant growth in trade that it had achieved year on year. They also mentioned the growth in the cruise sector which saw Darwin as the only jurisdiction in Australia to record an increase. Additionally, the support provided by the Darwin Port to Defence during major exercises and the many port calls was seen as significant.

Darwin Port CEO Peter Dummett, who was in Sydney to accept the award, said that this recognition “was for the team and by the team.”

“We have a head count of just under 100 Territorians who turn up every day and get on with the job of running the port”.

“It is not just the port team that have led to this success” he said.

“Ports can’t operate without our stakeholders and service providers. The port’s stevedores, Qube, Linx and Aurizon, tug operators Svitzer and Coastal Tug and Barge and of course the shipping companies and the customers using the port all work together to achieve these outstanding results.” Mr Dummett said.

“I’d especially like to thank the dedicated team at Darwin Port for achieving this recognition,” he said.

Source: Darwin Port Website

Traditional owners, SunCable and the Northern Land Council reached a historic multi-generational 70-year agreement to build a 12,000-hectare solar farm on Powell Creek Station.

In a multi-million-dollar agreement to build the biggest solar farm in Australia, multi-generational wealth will be brought to Traditional Owners who hold native title over the earmarked land area of Powell Creek Station.

The agreement will deliver major economic benefits through jobs, training pathways and local business opportunities in a very remote part of the Northern Territory.

Stringent environmental protection and cultural heritage preservation are also included, so cultural knowledge and connections to land will be protected and will continued to be passed down through generations.

SunCable first approached the Northern Land Council in 2019, and soon after engaged with Traditional Owners about its interests in parts of Powell Creek Station.

In 2022 SunCable identified the land area it wanted to use, and negotiations began with Traditional Owners about options for a land use agreement.

It has been a lengthy process of negotiations between SunCable and more than 200 Traditional Owners, over the last three years.

The agreement has also been a massive logistical effort from NLC, undertaking over 70 consultations to meet and bring together many families across Darwin, Katherine, Elliott, Tennant Creek and other remote locations where people live.

This is a significant deal that NLC, Traditional Owners and SunCable were able to negotiate, and an example of how large-scale energy projects can be developed in partnership with Aboriginal communities who want to shape their economic future while continuing to live and work on country.

Quotes attributable to Northern Land Council Chairman Matthew Ryan:

“The Northern Land Council is proud to have negotiated this deal with Suncable on behalf of the Traditional Owners of Janigirulu, Bamayu and Walanypirri. “It sends a clear message that the Northern Territory is open for business. This demonstrates that Aboriginal Territorians are leading the way by participating in genuine engagement with big business.

“This is about strengthening self-determination, building sustainable communities, and contributing to the long-term economic viability of the Northern Territory.

“Over the years the NLC has facilitated a number of successful business ventures with Traditional Owners in the Barkly and we look forward to promoting more opportunities towards creating a prosperous future for everyone in the Northern Territory.”

Quotes attributable to SunCable Chief Executive Officer Ryan Willemsen-Bell:

“Today’s signing of the Indigenous Land Use Agreement marks the beginning of an enduring partnership between SunCable, the Northern Land Council and the Powell Creek Native Title Holders to develop this transformative renewable energy project in the Northern Territory.”

“This agreement is a symbol of partnership, of shared vision, and of mutual respect.”

“SunCable is developing one of the largest renewable energy projects in the region, designed to harness the Northern Territory’s world-class solar resource to deliver reliable, cost-effective renewable electricity to industrial customers in the Northern Territory and SouthEast Asia.

“The ILUA is the result of years of dialogue, negotiation and trust-building. It ensures that the voices of Native Title Holders are not only heard but are central to the development of this project. Throughout the years, SunCable has listened carefully to shape a comprehensive agreement that recognises the importance of Native Title rights and interest that will deliver long term benefits.”

Source: Northern Land Coucil Website

Beetaloo Energy is pleased to advise that flow testing equipment has arrived at the Carpentaria5H well site.

The equipment has been rigged up and will soon commence operations.

The Company acknowledges that the commencement of the IP30 flow test will be later than previously anticipated. This is due to a delay in the arrival of the third party equipment, which was in use for another operator for significantly longer than forecast.

The installation of flow testing equipment enables commencement of the IP30 flow test which is scheduled to begin shortly.

This test will deliver important performance data to guide future well design and support the transition toward pilot production.

Results from the IP30 flow test are expected in December 2025.

Beetaloo Energy will continue to update shareholders as operations progress.

Source: Beetaloo Energy Australia Announcements

Highlights

• The Beetaloo Joint Venture sanctioned the Shenandoah South Pilot Project following execution of key commercial documents with APA Group, the Sturt Plateau Compression Facility (SPCF) Trust, financial institutions and the Northern Territory Government (NTG).
• Tamboran received consent from Native Title Holders to sell appraisal gas from the Shenandoah South Pilot Project to avoid flaring. Subsequently, the NTG approved the sale of appraisal gas under the Beneficial Use of Gas (BUG) Legislation.
• Tamboran successfully completed the first batch drilling program in the Beetaloo Basin with Shenandoah South 4H (SS-4H), -5H and -6H wells successfully drilled and cemented with a 10,000-foot horizontal section in the Mid Velkerri B shale.
• The stimulation program of the SS-6H well commenced in early November 2025. The program is targeting up to 60 stages and expected to conclude by the end of the year ahead of IP30 testing in 1Q 2026, subject to weather conditions and soaking duration.
• Construction activities on the SPCF and APA Group (ASX: APA) owned Sturt Plateau Pipeline (SPP) are well progressed and on track and on budget to deliver first gas to the NT market in mid2026, subject to weather conditions.
• In September 2025, Tamboran announced the expected acquisition of Falcon Oil & Gas Ltd. (Falcon) to increase Tamboran’s Beetaloo Basin acreage position to 2.9 million net prospective acres and increase ownership of the Phase 2 Development Farmout Area.
• Tamboran and Falcon shareholders are expected to vote on the transaction in 1Q 2026.
• In October 2025, the company completed a US$56.1 million (pre-fees) Public Offer at US$21.00 per share of Common Stock. The Public Offer was supported by leading energy technology company and new strategic partner, Baker Hughes.
• Concurrently with the closing of the Public Offering, Tamboran entered into subscription agreements with certain investors with expected gross proceeds of up to US$32.0 million in a Private Investment in Public Equity (PIPE), subject to approval by the Company’s shareholders.
• As of September 30, 2025, the Company had a cash balance of US$39.6 million, with expected near-term cash inflows of US$100 million following the completion of the Public Offer, PIPE transaction and US$15 million acreage sale to DWE, which was announced in May 2025.

Source: Tamboran Resources Corporation

The Northern Territory Government welcomes the Australian Government releasing full nomination allocations for the 2025-26 General Skilled Migration Program. 

Minister for Trade, Business and Asian Relations, Robyn Cahill said, “workforce shortages are being experienced across both public and private sectors, and it is critical that Territory businesses can find the workers they need now and into the future.”

“Migration programs play an essential part in rebuilding the Territory’s economy and restoring the Territory lifestyle. It contributes to population stability, supports regional economic growth, and alleviates skill shortages in remote and regional areas.

“That is why I travelled to Melbourne earlier this year for the Ministerial Migration Roundtable to advocate for better regional migration settings for the Northern Territory.”

A total of 1650 nominations have been allocated to the Northern Territory, including:

This is an increase on the previous program in 2024-25 (1,600).

“The Northern Territory is one of few jurisdictions to receive an increase and demonstrates our government’s success in advocating for migration programs that will support Territory growth,” Minister Cahill said.  

“As a regional area that has ongoing workforce shortages and challenges it is important that we have programs in place that help retain a permanent population.

“The Northern Territory Government remains committed to prioritising jobs for Territorians first, then workers from interstate, before businesses seek workers from overseas.”

The Northern Territory nomination program will open for all streams on 24 November 2025.

For further information visit: https://australiasnorthernterritory.com.au/move/migrate-to-work/nt-government-visa-nomination    

Source: Northern Government Newsroom

Up to 1,000 jobs are expected to be created through Vopak’s carbon dioxide import, storage and handling terminal at the Middle Arm Precinct, marking a major new investment in the Territory’s economic future.

The Finocchiaro CLP Government has provided a not-to-deal commitment to Vopak and the Land Development Corporation, giving the company the certainty to accelerate development of the project with completion likely by the early 2030s.

This announcement comes as Vopak prepares to celebrate 20 years of operation in the Northern Territory.

The proposed 10-hectare development at Middle Arm represents a major investment in future-focused infrastructure that will generate around 1,000 jobs during construction and approximately 70 ongoing operational roles once complete.

Last year, the NT Government and Vopak signed a Memorandum of Understanding (MoU) to develop a common-user facility at Middle Arm, including a dedicated CO₂ import terminal.

The terminal will be designed to safely and efficiently manage the import, storage and distribution of liquid carbon dioxide, providing open-access infrastructure to support heavy industry in reducing emissions and underpinning major offshore carbon capture and storage (CCS) developments across Australia and the Asia Pacific region.

Chief Minister Lia Finocchiaro said the Vopak commitment highlights the NT's growing role in supporting innovative industries and creating tangible opportunities for Territorians.

“In our year of action, certainty and security, projects like Vopak’s Middle Arm CO₂ terminal show the Northern Territory is not just open for business, but ready to lead in new industries that create local jobs and strengthen our economy. This is the kind of forward-looking investment that benefits communities across the Territory and positions us for long-term growth.”

Minister for Mining and Energy Gerard Maley said Vopak’s Middle Arm project will deliver significant local jobs and strengthen the Territory’s long-term economic future.

“This facility is projected to play a crucial role in supporting the development of a globally significant carbon capture and storage industry right here in the Territory, while delivering significant economic benefits for our region and Australia, including an estimated 1,000 construction jobs,” said Minister Maley.

“By granting an exclusive ‘not-to-deal’ commitment to Vopak, the NT Government is sending a clear signal to investors that the Territory is open for business and strongly supportive of the energy sector.”

Minister for Lands, Planning and Environment Joshua Burgoyne said the Territory is well placed to become a global leader in this emerging industry.

“The Territory is positioned to play a major role in the future of carbon capture and storage management,” said Minister Burgoyne.

“Our Government is delivering on its commitment to rebuild the economy and attract private sector investment, sending a clear message to Australian and global markets that the Territory is the place to invest.”

Vopak Terminals Australia Managing Director Paul Kanters said the company’s long-term partnership with the Territory continues to evolve in line with global decarbonisation priorities.

“This commitment from the NT Government demonstrates shared confidence and partnership for the future development of a common-user CO₂ import, storage, and handling facility at Middle Arm,” said Mr Kanters.

“As Vopak celebrates its 20th year of operation in Darwin, this project is a clear signal that we are committed not only to the security of today’s essential products but also to the economic growth and decarbonisation ambitions of the Territory and Australia.”

“It is the next evolution of our partnership, leveraging our global expertise to create infrastructure solutions that accelerate the journey to net zero.”

Once operational, the facility will have an initial capacity to manage up to five million tonnes per annum (MTPA) of liquid carbon dioxide, with potential expansion to more than 15 MTPA, subject to design and engineering outcomes.

Source: Northern Territory Government Newsroom

APA Group (ASX: APA) has commenced construction of the Sturt Plateau Pipeline (SPP), the crucial first-stage link to enable Beetaloo gas to reach power generation assets that keep the lights on across the Northern Territory.

The estimated ~$66.5 million project will support regional employment and local supply chains, delivering approximately 150 jobs during peak construction.

In September this year, APA received a pipeline licence from the Northern Territory Government and registered an Indigenous Land Use Agreement (ILUA) with Traditional Owners, facilitated by the Northern Land Council (NLC) in accordance with its statutory functions.

The Northern Territory Deputy Chief Minister and Minister for Mining and Energy, The Hon. Gerard Maley MLA and Northern Territory Treasurer, The Hon. Bill Yan MLA joined APA’s CEO and Managing Director, Adam Watson along with executives from Tamboran and representatives from the Northern Land Council, the Northern Territory Government and Department of Mining and Energy onsite to observe progress on the 40 TJ/d pipeline.

APA CEO and Managing Director Adam Watson said the SPP will play an important role in transporting Beetaloo gas to APA’s existing Amadeus Gas Pipeline, to power generation assets in Darwin.

“The SPP will help ensure Beetaloo gas is available to power the Territory, a critical first step in the basin’s development. Households and businesses in Darwin will be the first beneficiaries of this new infrastructure.”

Northern Territory Deputy Chief Minister The Hon. Gerard Maley MLA said: “The Sturt Plateau Pipeline construction signals the start of a new era for the Territory’s energy future, with this critical piece of infrastructure the first direct pipeline out of the Beetaloo.”

“This construction project is a strong example of how the NT Government, industry, and Traditional Owners can work together to deliver real benefits – including job creation, the building of skills in our regions and strengthening of the Territory’s economic future”.

Tamboran Chair and Interim CEO Richard Stoneburner said: “Tamboran’s work in the Beetaloo Basin will not only benefit the Northern Territory, but can also help address gas supply issues in Australia’s East Coast market.  Tamboran has just successfully completed a record drilling program for the Beetaloo and we are on track to deliver first gas to the Northern Territory mid 2026 working closely with APA on the Sturt Plateau Pipeline.”

Over the coming months the 37 kilometre pipeline will be welded together to ensure Beetaloo gas can flow in 2026.

Source: APA Group Website

The latest CommSec State of the States report proves what Territorians already know - under the Country Liberal Party, the Northern Territory is back on track, rebuilding stronger, faster, and with more momentum than ever.

According to the October 2025 CommSec report, the Territory has leapt from eighth to fourth place in overall economic performance, its best ranking in nearly a decade, showing that the CLP’s plan to rebuild the economy is working.

Chief Minister Lia Finocchiaro said the report was clear evidence the Territory is charging ahead and outperforming expectations.

“The Territory is leading the nation in economic growth, population growth, housing finance, and dwelling starts - and that’s no accident,” Mrs Finocchiaro said.

“Our economy grew by 5.4% - the strongest in the country. We’re seeing population growth up 1.3%, housing finance up 24%, and new dwellings up 30%. The word is out: if you want a great job, lifestyle and affordable housing, the Territory is where you need to be.”

The report also confirms the Territory has climbed to third nationally for household spending, reflecting renewed consumer confidence and a strong labour market.

“We’ve gone from last place under Labor to one of the strongest economies in Australia. That’s what happens when you back hard work, ambition and investment instead of red tape and excuses.

Chief Minister Lia Finocchiaro said the jump from eighth to fourth place was a “vote of confidence” in the CLP’s Rebuilding the Economy Strategy, which is restoring confidence, purpose and prosperity to the Northern Territory.

"Territorians elected us to rebuild the economy after eight years of going backwards under Labor - and this report, like the one before it, proves we’re delivering.

“In our year of action, certainty and security, a reduction in crime is giving businesses and investors greater confidence in the Territory’s future. We’re building a stronger workforce, unlocking regional growth and making the NT the best place to do business,” Mrs Finocchiaro said.

Treasurer Bill Yan said the report shows the Territory is now firmly on the investment radar.

“The NT is a hot spot for housing and business investment. You only have to look at the property market to see confidence returning,” Mr Yan said.

“With major infrastructure projects in the pipeline, the nation’s most generous home builder grants, and a lifestyle most people only dream of - Territorians and investors alike have faith in the CLP to deliver.”

Minister Yan said the momentum will continue as the CLP focuses on regional development, workforce attraction, and crime reduction.

“We promised to reduce crime, rebuild the economy and restore our lifestyle, and that’s exactly what we’re doing. The Territory’s comeback is well underway,” he said.

Fast Facts from the CommSec Report (October 2025):

• NT jumps from 8th to 4th overall economic performance.
• #1 in Australia for economic growth - up 5.4%.
• #1 for population growth - up 1.3%, 75% above decade average.
• #1 for housing finance - up 24.1%.
• #1 for dwelling starts - up 30%.
• #3 for household spending - up 9% on long-term average.
• Unemployment 16.4% below the decade average.

Source: Northern Territory Government Newsroom