Tamboran Resources
Develops Beetaloo Basin gas from appraisal toward initial sales.
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Profile
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
Key statistics
Year to date +33.0% · Average volume (30d) 112.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 21, 2026 | Roth Capital | Target | $47 | |||
| Apr 29, 2026 | RBC Capital | Upgrade | Sector Perform | Outperform | $38 | $55 |
| Dec 2, 2025 | Wells Fargo | Target | $35 | |||
| Oct 24, 2025 | RBC Capital | Reiterate | Sector Perform | $31 | $38 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| May 13, 2026Q3 FY26 | −$0.36 | −$0.42 | −16.7% | $2.4M | — | — | −2.28% |
| Feb 11, 2026Q2 FY26 | −$0.33 | −$0.33 | 0.0% | $1.5M | — | — | −2.97% |
| Nov 13, 2025Q1 FY26 | −$0.26 | −$0.47 | −80.8% | $512.7K | — | — | +0.21% |
| Sep 25, 2025Q4 FY25 | −$0.49 | −$0.59 | −20.4% | — | — | — | +3.22% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | −$30.7K | −$23.0K | −$1.3K | −$2.0K | −$2.0K | −$329.0K | |
| Operating income | −$15.0M | −$8.8M | −$8.5M | −$8.2M | −$7.8M | −$8.4M | |
| Net income | −$14.2M | −$6.7M | −$10.2M | −$8.2M | −$6.6M | −$9.4M | |
| Diluted EPS | −$0.99 | −$0.46 | −$0.65 | −$0.47 | −$0.33 | −$0.42 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Mar 31, 2026Cash & short-term investments $101.9M · Total debt $70.8M · Total assets $672.1M · Shareholders' equity $395.6M
Dividends
No dividends on record.
Ownership
Shares outstanding 34.86M · Float 23.78M · 68.2% free float
A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Bryan Sheffield · director, 10 percent owner: | 3.31M | 9.49% | Form 4 | Jul 29, 2026 |
| HITE Hedge Asset Management LLC | 2.88M | 8.27% | 13G | Aug 13, 2026 |
| Gilder Gagnon Howe & Co LLC | 1.09M | 3.13% | 13F | Aug 14, 2026 |
| Helmerich & Payne, Inc. | 1.02M | 7.20% | 13G | Oct 25, 2024 |
| Alberta Investment Management Corp | 858.7K | 2.46% | 13F | Aug 6, 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 |
Peers
Not reported.