Tamboran Resources Corporation (ASX:TBN) has reported its first quarter FY27 results, disclosing that first gas sales were achieved in September 2026 from its Pilot Project, with 40 terajoules per day (gross) contracted to the Northern Territory Government at a fixed price with CPI escalation, according to a filing authorised by Managing Director and Chief Executive Officer Todd Abbott on 12 November 2026.

Key Points

  • First gas sales from the Pilot Project were achieved in September 2026, with 40 TJ/d (gross) contracted to the Northern Territory Government at a fixed price, CPI escalated
  • Tamboran holds approximately 2.8 million net prospective acres in the Beetaloo Basin, described as the largest acreage position in the basin
  • The company has operated 11 horizontal wells across the Beetaloo Basin, stated to be the most by any operator in the basin
  • Strategic partnerships have been formed with Helmerich & Payne (NYSE: HP), Liberty Energy (NYSE: LBRT) and Baker Hughes, all of whom are equity holders
  • The AUD/USD exchange rate used in the presentation was disclosed as 0.7055

First Gas Sales and Pilot Project Contract

According to the filing, Tamboran transitioned to a producing company following the achievement of first gas sales in September 2026. The Pilot Project is delivering 40 terajoules per day on a gross basis, under a contract with the Northern Territory Government at a fixed price subject to CPI escalation. The filing states the company describes itself as having made the transition to producer. The 1Q FY27 result presentation was approved and authorised for release by Todd Abbott, the Managing Director and Chief Executive Officer of Tamboran Resources Corporation.

Beetaloo Basin Acreage and Operational Position

The filing states that Tamboran holds approximately 2.8 million net prospective acres across the Beetaloo Basin, which it describes as the largest acreage position in the basin. The company's acreage spans multiple stacked benches across two key depocenters. Tamboran's operations team is described as having been involved in the Beetaloo Basin for over a decade, with the company having operated 11 horizontal wells across the basin, which the filing states is the most by any operator in the basin.

Strategic Partnerships and Gas Market Access

The filing discloses that Tamboran has established strategic partnerships with Helmerich & Payne (NYSE: HP), Liberty Energy (NYSE: LBRT) and Baker Hughes, with the filing noting all three are equity holders in the company. These partnerships are described as being intended to accelerate the incorporation of lessons from the US shale industry. The filing also states that Tamboran has exposure to three gas markets described as trading at premiums to the US Henry Hub price, as well as potential future exposure to international LNG markets.