Tamboran Resources has successfully raised $56.1 million through a public offering and announced additional plans to secure up to $29.3 million through a private investment in public equity (PIPE) deal. The company also intends to launch a CDI Share Purchase Plan (SPP) aimed at raising up to $30 million.

“We thank our existing shareholders for their continued support in Tamboran and welcome new shareholders on our journey to delivering our world class shale gas development of the Beetaloo Basin,” the company said in a statement.

“The Strategic Partnership with Baker Hughes is an important step in our cost reduction initiative across our OFS activities in the Beetaloo Basin. Baker Hughes joins Helmerich & Payne (NYSE: HP) and Liberty Energy (NYSE: LBRT) as our key operational partners as we focus on progressing towards first gas from the Beetaloo Basin.”

“The funds from the offer will allow for Tamboran to secure long lead items for the 2026 drilling activities to maintain momentum on the anticipated completion of the farmout process.”

The public offering raised $56.1 million through the sale of 2,673,111 shares of common stock at a public offering price of $21.00 per share. Underwriters also exercised an option to purchase an additional 348,666 shares at the same price on October 23, 2025.

The offering was supported by cornerstone investors, including a $10 million commitment from strategic partner Baker Hughes, a leading energy technology company. The shares were issued under the company’s existing placement capacity in accordance with Listing Rule 7.1.

The securities were offered and sold pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). The company clarified that this announcement does not constitute an offer to sell or solicitation to buy securities in any jurisdiction where such actions would be unlawful.

In parallel with the public offering, Tamboran has entered into subscription agreements with selected investors for gross proceeds of up to $29.3 million in a PIPE deal, subject to shareholder approval under ASX Listing Rules 7.1 and 10.11, and other customary closing conditions. The PIPE is being conducted at the same price as the public offering, $21.00 per share of common stock.

The PIPE includes a US$6.6 million investment from Tamboran’s largest shareholder, Bryan Sheffield, and Scott Sheffield, a member of the company’s Board of Directors, subject to shareholder approval under ASX Listing Rule 10.11.

The common stock issued under the PIPE has not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without proper registration or exemption. Tamboran has agreed to file a registration statement for the resale of shares issued through the PIPE.