Tamboran Resources 2026 Q1 Earnings Net Loss Widens 34.1% Amid Operational Progress

Tamboran Resources (TBN) reported a 34.1% year-over-year increase in its net loss for fiscal 2026 Q1, missing expectations with a $-9.06 million deficit. The company maintained its mid-2026 first gas sales guidance despite the setback, citing infrastructure and drilling advancements.

Revenue

The total revenue of Tamboran Resources remained stable at $0 in 2026 Q1 with no significant change from 2025 Q1.

Earnings/Net Income

Tamboran Resources's losses deepened to $0.47 per share in 2026 Q1 from a loss of $0.42 per share in 2025 Q1 (12.0% wider loss). Meanwhile, the company's net loss widened to $-9.06 million in 2026 Q1, representing a 34.1% increase from the $-6.76 million loss recorded in 2025 Q1. The deteriorating EPS and net income reflect ongoing operational challenges despite strategic progress.

Post-Earnings Price Action Review

The stock price of Tamboran Resources has climbed 3.81% during the latest trading day, has dropped 4.50% during the most recent full trading week, and has dropped 7.51% month-to-date. The mixed short-term performance contrasts with the company’s long-term strategic optimism but highlights investor caution amid persistent losses and execution risks.

CEO Commentary

Chairman & Interim CEO Dick Stoneburner highlighted Tamboran’s strategic progress in the Beetaloo Basin, including the SS Pilot Project’s Final Investment Decision (FID) and successful drilling of three 10,000-foot horizontal wells. The acquisition of Falcon expanded the company’s acreage to 2.9 million net prospective acres, enhancing its market position. Infrastructure advancements, such as the Sturt Plateau Compression Facility (SPCF) and Pipeline (SPP), remain on schedule and within budget, supporting first gas sales by mid-2026. The CEO emphasized a robust balance sheet, with ~$140 million in cash and expected inflows, enabling execution of key milestones. Strategic partnerships with Baker Hughes and Liberty Energy underscore operational efficiency goals, while the farmout process for Phase 2 development strengthens long-term scalability. The tone reflects optimism, citing disciplined execution and alignment with strategic objectives to unlock Beetaloo Basin value.

Guidance

Tamboran expects to deliver first gas sales from the SS Pilot Project in mid-2026, contingent on weather and successful stimulation of remaining wells (SS-3H, -4H, -5H). The company anticipates completing the Falcon acquisition and progressing stimulation activities in 1Q 2026. Cash inflows of ~$140 million, including $100 million from near-term sources, will fund operations to first gas. A $59 million debt facility supports SPCF construction, while a $32 million PIPE transaction remains subject to shareholder approval. The company projects ~$2.5 million monthly tariffs from the SPCF and anticipates R&D rebates as incremental funding. Infrastructure timelines, including SPP completion by late 2025, remain on track, with farmout agreements advancing to secure long-term production access.

Additional News

Tamboran Resources announced the $239 million cash-and-stock acquisition of Falcon Oil & Gas, expanding its Beetaloo Basin acreage by over 50%. The company also secured regulatory approvals for early gas sales and completed record drilling operations ahead of schedule. Capital-raising efforts included a $56 million equity offering and a $32 million PIPE transaction pending shareholder approval. Meanwhile, Chairman & Interim CEO Dick Stoneburner reaffirmed focus on operational efficiency through partnerships with Baker Hughes and Liberty Energy.