AcquisitionsMay 28, 2026, 10:31 AM
Tamboran Completes Falcon Acquisition; Becomes Largest Beetaloo Acreage Holder
AI Summary
Tamboran Resources Corp. has completed the acquisition of Falcon Oil & Gas Ltd.'s subsidiaries, significantly expanding its footprint in the Beetaloo Basin. The transaction involved Tamboran issuing 6,537,503 shares of common stock and paying $23,663,080 in cash to Falcon. This strategic consolidation makes Tamboran the largest acreage holder in the Beetaloo Basin depocenter with approximately 2.8 million net prospective acres and results in a pro forma market capitalization of about $1.2 billion. The company is now focused on its 2026 operating program, including drilling and stimulation activities, with first gas sales from the Pilot Project expected in Q3 2026.
Key Highlights
- Tamboran completed the acquisition of Falcon Oil & Gas Ltd.'s subsidiaries.
- Issued 6,537,503 shares of common stock to Falcon as part of the consideration.
- Paid $23,663,080 in cash consideration for the acquisition.
- Now holds approximately 2.8 million net prospective acres in the Beetaloo Basin, becoming the largest acreage holder.
- Pro forma market capitalization is approximately $1.2 billion based on May 27, 2026 NYSE close.
- Issued 369,084 options to certain Falcon directors and officers at an exercise price of $21.94 per share.
- First gas sales from the Pilot Project commissioning remain on track for Q3 2026.
Price Impact
More from TBN