en.Wedoany.com Reported - Following final approval from Canadian courts, Tamboran Resources has completed its acquisition of Falcon Oil & Gas for C$239 million (US$172.9 million), a deal signed in September 2025.

Through this transaction, Tamboran has gained approximately 2.8 million net prospective acres, becoming the largest block holder in the Beetaloo Basin in Australia's Northern Territory.

When announcing the acquisition, Tamboran stated that the merger with Falcon represents a logical consolidation of two leading companies in the Beetaloo Basin, with a combined pro forma market capitalization exceeding US$500 million.

Under the terms of the deal, Tamboran agreed to acquire all subsidiaries of Falcon, with consideration consisting of approximately 6.54 million Tamboran common shares listed on the New York Stock Exchange and US$23.7 million in cash.

Tamboran CEO Todd Abbott stated that this acquisition is a logical consolidation between the two companies, and the company will subsequently shift focus to its 2026 operational plan, which is expected to be its most active year in the Beetaloo Basin, including drilling at least four wells and stimulating at least five wells.

The company has commenced three-well stimulation operations at the Shenandoah South 2 (SS2) well pad in the Beetaloo Basin, with these wells scheduled to be connected to the Sturt Plateau Compression Facility in the third quarter of 2026. The stimulation operations are being conducted in collaboration with joint venture partner Daly Waters Energy, and Tamboran stated this marks another key milestone for the Beetaloo joint venture project.

Operations will utilize stimulation and wireline equipment from Liberty Energy.

Tamboran stated that these are the final wells required for the Beetaloo joint venture project to fulfill its supply obligations under a 40 terajoules per day natural gas sales agreement with the Northern Territory government, with first gas sales from the pilot project also planned to commence during the same period.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com