Tamboran Resources (TBN)
Develops Beetaloo Basin gas from appraisal toward initial sales.
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Develops unconventional natural gas in Australia’s Beetaloo Basin through an integrated exploration-and-production business. Its Shenandoah South Pilot is moving from appraisal toward initial gas sales, while its Falcon acquisition expanded its Beetaloo acreage position.
Develops unconventional natural-gas resources in Australia’s Beetaloo Basin through an integrated exploration-and-production business. The Shenandoah South Pilot is its central development project, combining well stimulation and long-term testing with the Sturt Plateau Compression Facility for planned gas sales to the Northern Territory government. The Falcon Oil & Gas subsidiary acquisition expanded its Beetaloo acreage position.
Operations are concentrated in Australia’s Northern Territory, while common stock trades on the NYSE and CDIs trade on the ASX. Rather than an established production franchise, the business remains in the transition from appraisal to initial sales. Progress depends on facility commissioning, approvals, drilling and stimulation results, weather, additional capital, and pipeline capacity.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| May 21, 2026 | Roth Capital | Target | Target: — | Target: $47 |
| Apr 29, 2026 | RBC Capital | Upgrade | Target: $38 | Target: $55 |
| Dec 2, 2025 | Wells Fargo | Target | Target: — | Target: $35 |
| Oct 24, 2025 | RBC Capital | Reiterate | Rating: —Target: $31 | Target: $38 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Mar 31, 2026Cash & short-term investments $101.9M · Total debt $70.8M · Total assets $672.1M · Shareholders' equity $395.6M
- Revenue
- $0
- Operating income
- −$8.4M
- Net income
- −$9.4M
No dividends on record.
| Institutions | 45.61% | 12.92M shares | |
|---|---|---|---|
| 97 holders · as of Jun 30, 2026 | |||
| Insiders | 18.79% | 5.32M shares | |
| 15 holders · as of Jul 29, 2026 | |||
| Other | 35.60% | 10.08M shares | |
| remainder | |||
28.32M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (28.32M in the company's Sep 22, 2026 report, 34.86M elsewhere); stakes use the report.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Bryan SheffieldInsiderdirector, 10 percent owner | 12.88% | 3.65M | filed Jul 29, 2026 |
Hite Hedge Asset Management LLCInstitution | 10.18% | 2.88M | as of Jun 30, 2026 |
Gilder Gagnon Howe & Co LLCInstitution | 3.85% | 1.09M | as of Jun 30, 2026 |
Alberta Investment Management CorpInstitution | 3.03% | 858,680 | as of Jun 30, 2026 |
Cinctive Capital Management LPInstitution | 2.31% | 655,326 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 13, 2026 | Phillip Z. Pace | director | +10,000 | $36.99 |
| Apr 8, 2026 | Scott D. Sheffield | director | +6,990 | $36.02 |
| Nov 21, 2025 | Phillip Z. Pace | director | +2,000 | $23.50 |
Not reported.