Tamboran secures $10mn equity investment, strategic partnership with Liberty Energy
Australia-focused Tamboran has entered into a strategic partnership and received a $10mn (A$15.2mn) equity investment from NYSE-listed energy services firm, Liberty Energy, it said on December 15.
As part of this collaboration, Liberty plans to import a modern frac fleet into the Beetaloo basin in 2024 to support the stimulation campaign for Tamboran’s proposed 40mn ft3/day Shenandoah South pilot project, which is planned to commence production in 2026.
The introduction of a modern frac fleet is anticipated to streamline operations and mitigate delays typically associated with mobilizing equipment to the site. Tamboran expects this move to significantly enhance completion efficiencies and, consequently, reduce the costs associated with future stimulation programmes.
In addition to the infusion of capital, Tamboran has committed to collaborate with Liberty to introduce cutting-edge sand mining and handling management solutions to the Beetaloo basin.
In response to the partnership, Tamboran, through its subsidiary Tamboran Infrastructure, has applied for 14 extractive mineral exploration licenses. These licenses are strategically located in close proximity to the proposed Shenandoah South pilot project.
Tamboran is planning to develop the Northern Territory LNG (NTLNG) project in the state of Northern Territory. The project is aimed at developing a fully integrated onshore LNG facility in the Northern Territory, with operations spanning upstream, midstream, and downstream activities. The NTLNG development is expected to be supported by the gas sourced from the Beetaloo basin.
The company recently told NGW that the financing of the project is expected during 2024/2025.