Tamboran Resources (ASX:TBN) reported strong operational progress for the quarter ended June 30, marked by first gas sales from the Beetaloo Basin into the Northern Territory gas network and completion of the basin's largest stimulation program to date, according to an Australian bourse filing on Sept. 25 after market hours.
The company completed the Sturt Plateau compression facility on schedule and about $9 million under budget, progressed its three-well SS1 drilling program, and commenced drilling at the Santos (ASX:STO)-operated Jibera South 1H well, per the filing.
The company also completed its acquisition of Falcon Oil & Gas in May through the acquisition of its subsidiaries, following final approval from the Supreme Court of British Columbia, the filing said.
The company held $240 million in cash as of June 30 and expected near-term inflows, while $30 million of net debt was drawn and $31 million remained undrawn, the filing added.
