RBC Capital Markets and Wells Fargo Securities Jointly Manage Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 07 2026
0mins
Should l Buy TBN?
RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers of the offering.
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Analyst Views on TBN
Wall Street analysts forecast TBN stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 35.760
Low
35.00
Averages
37.75
High
41.00
Current: 35.760
Low
35.00
Averages
37.75
High
41.00
About TBN
Tamboran Resources Corporation is an Australia-based independent natural gas exploration and production company focused on an integrated approach to the commercial development of the natural gas resources in the Beetaloo Basin located within the Northern Territory of Australia. Through its subsidiaries, the Company holds approximately 1.9 million net prospective acres in the Beetaloo Basin. Its key assets include a 47.5% operating interest over 20,309 acres in the proposed northern Pilot Area, a 38.75% non-operating interest over 20,309 acres in the proposed southern Pilot Area, a 58.13% operating interest in the proposed Phase 2 development area covering 406,693 acres, a 67.83% operated interest over 219,030 acres in a proposed Retention License 10, a 77.5% operating interest across 1,487,418 acres over ex-EPs 76, 98 and 117, a 100% working interest and operatorship in EP 136 and a 25% non-operated working interest in EP 161, which are all located in the Beetaloo Basin.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Tamboran Resources Sets Pricing for Public Offering
- Offering Size: Tamboran Resources has announced a public offering of 2.96 million shares at $35.00 each, with expected gross proceeds of $103.5 million, excluding an additional 443,491 shares that underwriters can purchase within 30 days, indicating the company's proactive approach to capital markets.
- Use of Proceeds: The net proceeds from this offering will fund additional drilling in the Pilot Area, resource delineation in the Orion Acreage and Beetaloo Central Development Area, drilling in EP 161, working capital, and other corporate purposes, highlighting the company's strategic focus on expanding its resource base.
- Underwriter Arrangement: RBC Capital Markets and Wells Fargo Securities will serve as joint book-running managers for this offering, ensuring a smooth fundraising process while bolstering market confidence in Tamboran Resources.
- Stock Price Reaction: Following the offering announcement, Tamboran's stock sharply declined in after-hours trading, falling to as low as $38.50, representing a roughly 15% drop, reflecting market concerns regarding the offering and investor sentiment about the company's future prospects.
See More
Tamboran Raises ~$198M to Accelerate Beetaloo Basin Growth Ahead of First Gas
- Capital Raising Scale: Tamboran aims to raise approximately $198 million through an underwritten US public offering and entitlement offer, with proceeds allocated for drilling, infrastructure, and resource delineation in the Northern Territory, facilitating the company's first gas production by Q3 2026.
- Equity Structure Adjustment: The financing will issue around 5.7 million new shares, representing 25% of existing capital, priced at $35 each, reflecting a discount of about 22.8% to the last close, indicative of market dynamics for pre-cash flow energy developments.
- Infrastructure Progress: The processing infrastructure for the Shenandoah South pilot project is approximately 84% complete, with an initial production target of about 40 million cubic feet per day, and a contracted gas sales agreement with the Northern Territory government extending to 2041, ensuring a stable revenue stream.
- Favorable Market Outlook: As east coast gas demand is projected to face shortfalls by the mid-2030s, Tamboran's Beetaloo Basin is positioned as a new domestic supply source, particularly amid geopolitical factors that emphasize the value of stable Australian gas supply into Asia, enhancing market expectations for its future development.
See More
Tamboran Resources Prices Public Offering at $35 per Share
- Public Offering Pricing: Tamboran Resources has priced its public offering at $35 per share for 2,956,602 shares, expecting gross proceeds of $103.5 million, indicating strong market demand for its equity.
- Underwriter's Option: The company has granted underwriters a 30-day option to purchase an additional 443,491 shares, enhancing fundraising flexibility and potential revenue.
- Clear Use of Proceeds: The funds raised will be allocated for additional drilling in the Pilot Area, resource delineation in the Beetaloo Central Development Area, and general corporate purposes, reflecting the company's strategic growth plans.
- Transaction Timeline: The offering is expected to close on April 9, 2026, subject to customary closing conditions, demonstrating the company's active engagement in capital markets and confidence in future developments.
See More
Tamboran Resources Announces Public Offering Amidst Market Decline
- Public Offering Initiated: Tamboran Resources has commenced an underwritten public offering of over 2.95 million common shares, with underwriters having the option to purchase an additional 15%, resulting in a 17.1% decline in post-market trading, indicating market concerns over the financing plan.
- Clear Use of Proceeds: The company plans to utilize the proceeds for additional drilling in the Pilot Area, resource delineation in the Orion Acreage and Beetaloo Central Development Area, drilling in the EP 161 acreage, working capital, and other general corporate purposes, showcasing its proactive approach to future growth.
- Farm-in Agreement Reached: Last week, Tamboran announced a farm-in agreement with Daly Waters Energy to advance development in the Beetaloo Basin in Australia's Northern Territory, allowing for a staged earn-in of up to approximately $28.5 million, reflecting strategic decision-making in resource development.
- Land Interest Transfer: The company agreed to farm down approximately 10,000 acres of its working interest across the Shenandoah North and South Pilot Areas and the Beetaloo Central Development Area, aiming to optimize resource allocation and enhance collaboration with partners to facilitate project advancement.
See More
Tamboran Resources Launches Underwritten Public Offering
- Offering Size: Tamboran Resources has commenced an underwritten public offering of 2,956,602 shares of common stock, with an additional 443,491 shares available for underwriters, reflecting the company's proactive stance in capital markets.
- Use of Proceeds: The net proceeds from the offering are intended for additional drilling in the Pilot Area, resource delineation in the Orion Acreage, and drilling in the EP 161 acreage, aimed at enhancing the company's resource development capabilities and market competitiveness.
- Underwriter Selection: RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering, indicating a strategic choice in financing that boosts market confidence in the company's fundraising capabilities.
- Compliance and Transparency: The offering adheres to an effective registration statement, ensuring all securities transactions comply with U.S. securities laws, which enhances investor trust in the company's compliance and promotes market transparency.
See More
Tamboran Resources Launches Direct Stock Offering
- Direct Offering Initiated: Tamboran Resources has commenced a registered direct stock offering aimed at qualified institutional buyers under Rule 144A of the Securities Act of 1933, targeting increased participation from institutional investors.
- Public Offering Scale: The concurrent public offering includes 2,956,602 shares of common stock, which could rise to 3,400,093 shares if underwriters fully exercise their option, indicating the company's proactive engagement with capital markets.
- Clear Use of Proceeds: The net proceeds from this offering are intended for additional drilling in the Pilot Area, resource delineation in the Orion acreage, and drilling in the EP 161 acreage, reflecting the company's strategic planning for future growth.
- Market Positioning: Tamboran holds approximately 1.9 million net prospective acres in the Beetaloo Basin, making it the largest acreage holder in the region, showcasing its leadership and market potential in Australia's natural gas development sector.
See More
Tamboran Resources Sets Pricing for Public Offering
- Offering Size: Tamboran Resources has announced a public offering of 2.96 million shares at $35.00 each, with expected gross proceeds of $103.5 million, excluding an additional 443,491 shares that underwriters can purchase within 30 days, indicating the company's proactive approach to capital markets.
- Use of Proceeds: The net proceeds from this offering will fund additional drilling in the Pilot Area, resource delineation in the Orion Acreage and Beetaloo Central Development Area, drilling in EP 161, working capital, and other corporate purposes, highlighting the company's strategic focus on expanding its resource base.
- Underwriter Arrangement: RBC Capital Markets and Wells Fargo Securities will serve as joint book-running managers for this offering, ensuring a smooth fundraising process while bolstering market confidence in Tamboran Resources.
- Stock Price Reaction: Following the offering announcement, Tamboran's stock sharply declined in after-hours trading, falling to as low as $38.50, representing a roughly 15% drop, reflecting market concerns regarding the offering and investor sentiment about the company's future prospects.
See More
Tamboran Raises ~$198M to Accelerate Beetaloo Basin Growth Ahead of First Gas
- Capital Raising Scale: Tamboran aims to raise approximately $198 million through an underwritten US public offering and entitlement offer, with proceeds allocated for drilling, infrastructure, and resource delineation in the Northern Territory, facilitating the company's first gas production by Q3 2026.
- Equity Structure Adjustment: The financing will issue around 5.7 million new shares, representing 25% of existing capital, priced at $35 each, reflecting a discount of about 22.8% to the last close, indicative of market dynamics for pre-cash flow energy developments.
- Infrastructure Progress: The processing infrastructure for the Shenandoah South pilot project is approximately 84% complete, with an initial production target of about 40 million cubic feet per day, and a contracted gas sales agreement with the Northern Territory government extending to 2041, ensuring a stable revenue stream.
- Favorable Market Outlook: As east coast gas demand is projected to face shortfalls by the mid-2030s, Tamboran's Beetaloo Basin is positioned as a new domestic supply source, particularly amid geopolitical factors that emphasize the value of stable Australian gas supply into Asia, enhancing market expectations for its future development.
See More
Tamboran Resources Prices Public Offering at $35 per Share
- Public Offering Pricing: Tamboran Resources has priced its public offering at $35 per share for 2,956,602 shares, expecting gross proceeds of $103.5 million, indicating strong market demand for its equity.
- Underwriter's Option: The company has granted underwriters a 30-day option to purchase an additional 443,491 shares, enhancing fundraising flexibility and potential revenue.
- Clear Use of Proceeds: The funds raised will be allocated for additional drilling in the Pilot Area, resource delineation in the Beetaloo Central Development Area, and general corporate purposes, reflecting the company's strategic growth plans.
- Transaction Timeline: The offering is expected to close on April 9, 2026, subject to customary closing conditions, demonstrating the company's active engagement in capital markets and confidence in future developments.
See More
Tamboran Resources Announces Public Offering Amidst Market Decline
- Public Offering Initiated: Tamboran Resources has commenced an underwritten public offering of over 2.95 million common shares, with underwriters having the option to purchase an additional 15%, resulting in a 17.1% decline in post-market trading, indicating market concerns over the financing plan.
- Clear Use of Proceeds: The company plans to utilize the proceeds for additional drilling in the Pilot Area, resource delineation in the Orion Acreage and Beetaloo Central Development Area, drilling in the EP 161 acreage, working capital, and other general corporate purposes, showcasing its proactive approach to future growth.
- Farm-in Agreement Reached: Last week, Tamboran announced a farm-in agreement with Daly Waters Energy to advance development in the Beetaloo Basin in Australia's Northern Territory, allowing for a staged earn-in of up to approximately $28.5 million, reflecting strategic decision-making in resource development.
- Land Interest Transfer: The company agreed to farm down approximately 10,000 acres of its working interest across the Shenandoah North and South Pilot Areas and the Beetaloo Central Development Area, aiming to optimize resource allocation and enhance collaboration with partners to facilitate project advancement.
See More
Tamboran Resources Launches Underwritten Public Offering
- Offering Size: Tamboran Resources has commenced an underwritten public offering of 2,956,602 shares of common stock, with an additional 443,491 shares available for underwriters, reflecting the company's proactive stance in capital markets.
- Use of Proceeds: The net proceeds from the offering are intended for additional drilling in the Pilot Area, resource delineation in the Orion Acreage, and drilling in the EP 161 acreage, aimed at enhancing the company's resource development capabilities and market competitiveness.
- Underwriter Selection: RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering, indicating a strategic choice in financing that boosts market confidence in the company's fundraising capabilities.
- Compliance and Transparency: The offering adheres to an effective registration statement, ensuring all securities transactions comply with U.S. securities laws, which enhances investor trust in the company's compliance and promotes market transparency.
See More
Tamboran Resources Launches Direct Stock Offering
- Direct Offering Initiated: Tamboran Resources has commenced a registered direct stock offering aimed at qualified institutional buyers under Rule 144A of the Securities Act of 1933, targeting increased participation from institutional investors.
- Public Offering Scale: The concurrent public offering includes 2,956,602 shares of common stock, which could rise to 3,400,093 shares if underwriters fully exercise their option, indicating the company's proactive engagement with capital markets.
- Clear Use of Proceeds: The net proceeds from this offering are intended for additional drilling in the Pilot Area, resource delineation in the Orion acreage, and drilling in the EP 161 acreage, reflecting the company's strategic planning for future growth.
- Market Positioning: Tamboran holds approximately 1.9 million net prospective acres in the Beetaloo Basin, making it the largest acreage holder in the region, showcasing its leadership and market potential in Australia's natural gas development sector.
See More
