Tamboran Resources' operational milestones revealed

Tamboran Resources Corporation (ASX:TBN) has released its 1Q FY25 Results Presentation, showcasing significant developments in the Beetaloo Basin, Northern Territory. The company has made notable progress in its drilling activities and is set to commence new projects.

Key takeaways from Tamboran's latest announcement

Tamboran Resources (ASX:TBN) has detailed its achievements in the Beetaloo Basin, marking significant advancements in its drilling operations. With cash reserves of US$81.6 million, the company is poised to hit production milestones, particularly with the SS-2H and SS-2H ST1 wells. The introduction of a local sand mine aims to cut completion costs, complementing the new Liberty Energy frac spread for optimized operations. Looking forward, Tamboran targets a production rate of 40 million cubic feet per day by 1H 2026 from the Shenandoah South Pilot Project. The company plans to complete drilling and secure necessary regulatory approvals in the coming months, with a strategic focus on delivering natural gas to the Australian East Coast and select Asian markets.

Executive insights on Tamboran's progress

The SS-2H well boasts the longest horizontal section drilled in the Mid Velkerri B Shale to date, at approximately 10,000 feet (3,000 meters). Despite a mechanical issue requiring a sidetrack, the SS-2H ST1 well has been successfully drilled with enhanced efficiency.