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- **Operational Momentum**: On track for Q3 2026 first gas sales with 80% SPCF completion and pipeline readiness. 2026 drilling program to deliver 40 million/day plateau.
- **Cost Efficiency**: Testing local sand for cost reduction; SPCF construction within P50 budget ($118M facility).
- **Market Expansion**: Potential to expand to East Coast and LNG markets via pipeline upgrades. Stakeholder support ensures smooth development.

**【CEO Opening Remarks】**
- **Q2 2026 Progress**: Completed two-well drilling program, largest stimulation in Beetaloo Basin (58 stages, 10,009-foot horizontal section). SPCF construction 80% complete, on track for Q3 2026 first gas sales. APA Group's Sturt Plateau Pipeline ready for gas.
- **2026 Operations**: Stimulate three remaining wells for 40 million/day plateau; drill two backfill wells with Daly Waters Energy (DWE); participate in Santos' Beetaloo East wells. Local sand testing planned for cost reduction.
- **Strategic Focus**: Mid-Velkerri B Shale optimization, NT gas market supply, and expansion to East Coast/LNG markets. Falcon merger and acreage swap with DWE to consolidate Beetaloo position.

**【CFO Financial Commentary】**
- **Cash Position**: $91 million at end of Q2, with $47 million in near-term inflows ($32M PIPE, $15M DWE acreage sale). SPCF construction facility ($118M) tracking to P50 budget. Undrawn debt capacity of $42 million.
- **Funding**: No immediate capital market activity planned; exploring farm-out for Phase Two Development Area to mitigate costs.

**【Q&A Highlights】**
- **Well Soak Period**: Extended to 60 days (from 30) for data consistency with SS-2H well. No anomalies in 6H flowback; long-term decline curve待生产数据.
- **Farm-Out Process**: Credible interest from parties; timeline flexible but aligned with P50 schedule. Expansion of SPCF to 100 million/day under evaluation.
- **Stakeholder Support**: Strong backing from NT government, native title holders, and pastoralists. Regional office in Elliott to drive local employment and benefits.

Tamboran Resources Corp (TBN) Q2 2026 Earnings Call Transcript

- **Pilot Project On Track**: Shenandoah South Pilot Project 68% complete, targeting 40M cf/day gas sales in mid-2026. 
- **$100M+ Near-Term Liquidity**: Public offer + PIPE transaction secures $100M+ cash inflows. 
- **Proppant Intensity Optimization**: Testing 2,250 lbs/ft vs. 2,800 lbs/ft designs to balance cost/performance. 
- **Strategic Acreage Expansion**: 500,000-acre farm-out expected Q1 2026, solidifying Tamboran's 92% stake in Phase Two area.

**【CEO Summary Section】**
- **Pilot Project Milestones**: Sanctioned Shenandoah South Pilot Project for mid-2026 gas sales, with SPCF construction 68% complete on budget. 
- **Operational Efficiency**: Drilling campaign completed 20% ahead of schedule, with 3 wells drilled and cemented in mid-Velkerri B Shale. 
- **Strategic Acquisitions**: Completed Falcon Oil & Gas transaction (22.5% Beetaloo Basin acreage) and raised $56M via public offer at $21/share. 
- **Funding Strength**: $39.6M cash balance + $100M near-term inflows from public offer and PIPE transaction. 
- **Partnerships**: Baker Hughes invested $10M for oilfield services partnership, supporting cost optimization.

**【CFO Financial Commentary】**
- **Public Offer Proceeds**: Raised $56.1M (pre-fees) and $32M via PIPE transaction, with shareholder vote scheduled for Q1 2026. 
- **Debt Facility**: Secured $118M for SPCF construction, backed by $75M NT Government guarantee. 
- **R&D Rebates**: Potential $10M+ R&D tax rebates pending approval for FY24-26.

**【Q&A Key Highlights】**
- **Capital Spend Timeline**: $70M Tamboran share of pilot project costs, with SPCF on track for mid-2026 commissioning. 
- **Stimulation Design**: Testing 2,250 lbs/ft proppant intensity vs. 2,800 lbs/ft, with focus on water management. 
- **Farm-Out Progress**: 500,000-acre Phase Two Development Area farm-out expected Q1 2026, with 92% Tamboran retention. 
- **Local Sand Solution**: Testing in-basin sand with tracer technology to validate performance equivalence to frac sand.

Tamboran Resources Corp (TBN) Q1 2026 Earnings Call Transcript

- **Breakthrough Well Performance**: SS2H ST1 well showed unexpected 2% flow rate increase, hinting at superior matrix connectivity in the Beetaloo Basin.
- **Drilling Speed Record**: Achieved 19-day drilling time for the best well, down from 25-27 days, with ongoing tool improvements.
- **Infrastructure On Track**: SPCF facility 90% complete, with gas sales expected mid-2026. Secured $15 million from acreage sale and $11 million from PIPE transaction.
- **Farmout Momentum**: Strong interest in 400,000-acre farmout, with resolution expected Q1 2026.
- **LNG Ambitions**: Exploring Darwin LNG and greenfield options for long-term gas exports, alongside domestic market expansion.

**【CEO Summary Section】**
- **Record Well Performance**: The SS2H ST1 well achieved a 2% increase in flow rate over the last 30 days without intervention, suggesting enhanced matrix connectivity. The well tested over 5,500 feet of horizontal section in the Mid-Velkerri B Shale, with gas in place 40% higher than the Marcellus Shale.
- **Drilling Efficiency**: The three-well drilling campaign achieved basin-leading rates, with the second well reaching total depth in 19 days. Tool failures (e.g., mud motors, steerable systems) were addressed, and improvements like anti-vibration technology reduced non-productive time.
- **Infrastructure Progress**: The SPCF compression facility is 90% complete, with commissioning expected in mid-2026. The Stuart Plateau Pipeline, owned by APA Group, is under construction for gas sales by mid-2026.
- **Financial Position**: Ended Q4 with $45.2 million in cash and $26 million in receivables, including $11 million from a PIPE transaction and $15 million from an acreage sale. Discussions continue for $70-80 million in SPCF funding.
- **Strategic Initiatives**: Launched a farmout process for 400,000 acres, attracting strong interest. Seeking a new CEO, with plans to announce by year-end.

**【CFO Financial Commentary】**
- **Cash Management**: Total liquidity of $71.1 million, with $15 million expected from Daly Waters Energy by year-end. Proceeds from the PIPE transaction and acreage sale funded drilling and infrastructure.
- **SPCF Funding**: Engaging financiers for the remaining $70-80 million of the $90 million SPCF cost. Exploring options to expand capacity for local gas demand.
- **ILUA Process**: Commenced discussions with native title holders for a long-term Indigenous Land Use Agreement (ILUA), required for a production license.

**【Q&A Highlights】**
- **Drilling Efficiency**: Best-case drilling time reduced to 19 days (from 25-27 days) through tool improvements. Future plans include oil-based mud and advanced rigs.
- **Farmout Outcome**: Encouraged interest from qualified counterparties, with a focus on securing the best value for shareholders. Timeline for resolution is Q1 2026.
- **LNG Development**: Long-term goal to export gas via Darwin LNG or greenfield projects, contingent on infrastructure and partner alignment.
- **Sand Sourcing**: Testing local sand options for cost efficiency, with technical and regulatory approvals underway.
- **Gas Sales Expansion**: Potential to double SPCF capacity for local demand, subject to native title approvals and funding.

Actual		-130.86	-93.4	-66
Forecast		-75.5	-63.5628	-60.8467
Surprise	0.00%	-73.32%	-46.94%	-8.47%

Actual	--	0	0	0
Forecast	--	0	0	1.50M
Surprise	0.00%	0.00%	0.00%	-100.00%

TBN

TBN fundamentals

TBN Q2 2026 Earnings

Earnings Call

You can ask Aime

TBN

TBN fundamentals

TBN Q2 2026 Earnings

Earnings Call

TBN Earnings Call Summary for Q2/20265:00 PM on Feb 11, 2026

TBN Earnings Call Summary for Q1/20265:00 PM on Nov 13, 2025

TBN Earnings Call Summary for Q4/20255:00 PM on Sep 25, 2025

TBN Earnings Call Summary for Q4/2024 Mar 25, 2026

You can ask Aime