Pure fuel firm Tamboran Sources has agreed to purchase Falcon Oil & Fuel in a deal that may create one of many largest acreage holders in Australia’s Beetaloo basin, with roughly 2.9 million web potential acres.
The transaction will see Tamboran take possession of all Falcon subsidiaries in return for six.5 million shares of its widespread inventory and $23.7m in money.
The deal values Falcon at round $172m (€146.33m).
It might end in Falcon’s traders holding a 26.8% stake within the mixed entity, with Tamboran shareholders having the opposite 73.2%.
Each firms’ boards have unanimously given the inexperienced gentle to the deal, which is ready to shut within the first quarter of 2026.
Completion of the deal is topic to shareholder approval.
This deal extends Tamboran’s footprint within the Beetaloo depocentre, or sub-basin, and its working curiosity within the part two improvement space to 80.62%.
For this space, Tamboran is at the moment enterprise a farmout course of with RBC Capital Markets.
That is geared toward enabling Tamboran to determine a brand new improvement companion for a bigger portion whereas sustaining a cloth working curiosity.
Falcon Oil & Fuel CEO Philip O’Quigley stated: “Upon closing of the transaction, Falcon shareholders will profit from the elevated publicity to the critically essential pilot improvement at the moment below manner within the Beetaloo.”
O’Quigley added that the settlement eliminates any uncertainty concerning Falcon’s involvement within the part two farmout and in addition gives shareholders with direct entry to Tamboran’s ongoing pilot improvement actions within the Beetaloo.
Tamboran chairman and interim CEO Richard Stoneburner stated: “The transaction between Tamboran and Falcon is a logical consolidation of two of the Beetaloo Basin’s most energetic firms.”
Upon deal completion, Tamboran would management roughly 2.9 million web potential acres, together with non‑working stakes in blocks held by Daly Waters Vitality.
In November 2024, Falcon introduced the spudding of the Shenandoah S2‑4H (SS4H) properly within the Beetaloo sub‑basin within the Northern Territory of Australia.
“Tamboran indicators settlement to purchase Falcon Oil & Fuel” was initially created and revealed by Offshore Know-how, a GlobalData owned model.
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