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Asia

Australian Domestic Gas Reservation Scheme 'Not as Bad as It Could Have Been,' RBC Capital Markets Says

The domestic gas reservation scheme announced by the Australian government was "not as bad as it could have been," and it will introduce lower gas volumes into the domestic gas market than expected, RBC Capital Markets said in a Thursday note.The domestic gas reservation obligation requires a liquefied natural gas export license holder to supply a minimum total quantity of natural gas in a domestic gas market, equivalent to 20% of the LNG exported by the license holder from the market during the period. They may also meet the domestic supply obligation by supplying at least 90% of their minimum total quantity for a specific period, subject to certain requirements related to the remaining portion.RBC said it didn't agree with the government's estimate that LNG exporters could provide up to 200 petajoules of additional gas per year, because it assumed any spare volumes of gas in the East Coast LNG projects were exported as spot LNG, and not as domestic gas sales.The domestic gas reservation scheme's 20% requirement is net of existing LNG export license holders' contractual sales, infrastructure limitations, and existing gas reservation. This would be welcome relief for smaller cap Australian domestic gas focused stocks, such as Amplitude Energy (ASX:AEL), Beach Energy (ASX:BPT), Comet Ridge (ASX:COI), Strike Energy (ASX:STX), and Tamboran Resources (ASX:TBN).

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Australia Releases Domestic Gas Reservation Bill; Santos Welcomes Policy With Caveats
US Markets

Australia Releases Domestic Gas Reservation Bill; Santos Welcomes Policy With Caveats

The Australian government has released the Domestic Gas Reservation Bill 2026 for consultation, establishing Australia's first national domestic gas reservation scheme requiring gas exporters to supply a portion of their production to the domestic market.The bill proposes reserving up to 20% of gas exports for domestic use, with exporters able to provide up to 200 additional petajoules of gas per year, which Australian Minister for Climate Change and Energy Chris Bowen said is "more than enough" to avoid the Australian Energy Market Operator's forecast possible shortfalls of up to 140 petajoules.The licence application process will start from Jan. 1, 2027, with the domestic supply obligation starting from Jan. 1, 2028, to align with industry contracting cycles, while the exposure draft establishes a framework for how the reservation scheme will operate, including cost recovery and compliance and enforcement mechanisms.The Department of Industry, Science and Resources said the legislation supports the government's Future Made in Australia agenda, with the bill developed in response to the 2025 Gas Market Review and informed by more than 140 submissions received during earlier consultations.Santos (ASX:STO) Chief Executive Kevin Gallagher said in a Wednesday speech that while the oil and gas firm welcomes the policy, it should not force supply into an oversupplied market, and instead should allow the gas market to invest in bringing new supply online via price signals, recommending that the "must sell" provision be replaced with a "must offer on commercial terms" requirement.Gallagher argued that East Coast gas supply issues were caused by moratoriums and bans in New South Wales and Victoria over 15 years, which led to insufficient investment in new gas supply sources, adding that regulations should improve supply by incentivizing investment in new sources given that new investment is essential from 2030 to offset declining production at the Bass Strait.RBC Capital Markets said in a note that it views the legislation as a welcome relief to smaller cap Australian domestic gas-focused stocks, including Amplitude Energy (ASX:AEL), Beach Energy (ASX:BPT), Comet Ridge (ASX:COI), Strike Energy (ASX:STX), and Tamboran Resources (ASX:TBN).However, RBC said it does not agree with the government's estimate that the scheme would avoid the forecasted shortfalls, as the estimate assumes any spare volumes of gas in east coast liquefied natural gas projects are exported as spot LNG rather than sold domestically.

ASX 200ASX:AELASX:BPTASX:COIASX:STOASX:STXASX:TBN
Asia

Tamboran Resources Begins Initial Gas Sales from Northern Territory Pilot Project

Tamboran Resources (ASX:TBN) and Daly Waters Energy began initial gas sales from the Shenandoah South pilot project in the Beetaloo Basin, Northern Territory, according to a Monday Australian bourse filing.Field production is expected to ramp up to the full 40 terajoules per day contracted to the Northern Territory government under a long-term take-or-pay agreement by early 2027.

ASX:TBN
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Friday.Nine Entertainment (ASX:NEC): -5%, AU$0.95Nufarm (ASX:NUF): -4%, AU$3.14IGO (ASX:IGO): -4%, AU$8.10Pilbara Minerals (ASX:PLS): -3%, AU$5.03GrainCorp (ASX:GNC): -3%, AU$6.82Tamboran Resources (ASX:TBN): -3%, AU$0.28Xero (ASX:XRO): -3%, AU$78.56Elevra Lithium (ASX:ELV): -3%, AU$7.68Mineral Resources (ASX:MIN): -2%, AU$61.79Dyno Nobel (ASX:DNL): -2%, AU$3.81

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Asia

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Friday.Ora Banda Mining (ASX:OBM): 42.9 million sharesLiontown Resources (ASX:LTR): 19.5 million sharesEQ Resources (ASX:EQR): 15.5 million sharesTamboran Resources (ASX:TBN): 14.3 million sharesMirvac Group (ASX:MGR): 14.2 million shares

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Asia

Market Chatter: Tamboran Resources in Talks With Multinationals, Asian LNG Buyers Over Beetaloo Basin Funding Deal, Says AFR

Tamboran Resources (ASX:TBN) is in discussions with oil and gas multinationals, Asian liquefied natural gas (LNG) buyers and Australian LNG exporters as it seeks a long-term funding deal to support the expansion of gas production in the Beetaloo Basin in the Northern Territory, according to a Thursday Australian Financial Review report, citing Chief Executive Todd Abbott.As per the report, Abbott said options under consideration range from selling a stake in Tamboran's upstream gas project and straight gas sales agreements to a broader partnership covering the full chain of operations from drilling and production through to infrastructure and end markets, amid strong interest from potential co-investors as initial gas flows began from the Beetaloo this week.The company did not immediately respond to anemail request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:TBN
Asia

Tamboran Resources Enters MOU With US Energy Services Firm

Tamboran Resources (ASX:TBN) entered into a non-binding memorandum of understanding (MOU) with American energy services firm Liberty Energy to extend the hydraulic fracture stimulation and wireline services agreement for the company's operations in the Beetaloo Basin in the Northern Territory, according to a Wednesday filing with the Australian bourse.The companies intend to extend their existing agreement for an initial three-year term, from Sept. 1 through to Aug. 31, 2029, with an option to extend by a further two years to 2031, the filing said.Additionally, the MOU outlines both companies' plan to progress lower-emissions completions in the Beetaloo Basin, with Liberty Energy slated to start phasing lower-emissions pumping equipment into the Beetaloo fleet from 2027, per the filing.Tamboran Resources' shares added about 2% in recent Wednesday trade.

ASX:TBN
Asia

Tamboran Resources Commences Gas Commissioning at Northern Territory Facility

Tamboran Resources (ASX:TBN) and Daly Waters Infrastructure's jointly owned Sturt Plateau Compression Facility Trust commenced gas commissioning of the facility using gas from the Shenandoah South 2 pad, according to a late Tuesday statement by the company.The facility will have the capacity to process up to 50 terajoules per day, with 40 terajoules per day contracted to the Northern Territory Government (NTG) under a long-term take-or-pay agreement.Construction remains on schedule and within the AU$141 million P50 budget, with commissioning gas to be sold to the NTG at a discounted rate consistent with industry practice.

ASX:TBN
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Tuesday.FireFly Metals (ASX:FFM): -5%, AU$1.77Tabcorp Holdings (ASX:TAH): -3%, AU$0.87Predictive Discovery (ASX:PDI): -2%, AU$0.65The Lottery Corporation (ASX:TLC): -2%, AU$5.49Tamboran Resources CDI (ASX:TBN): -2%, AU$0.23Ampol (ASX:ALD): -2%, AU$39.13Stanmore Resources (ASX:SMR): -2%, AU$2.27Webjet Group (ASX:WEB): -2%, AU$3.46Viva Energy Group (ASX:VEA): -1%, AU$2.75Flight Centre Travel Group (ASX:FLT): -1%, AU$13.16

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Asia

Tamboran Resources Completes Three-Well Stimulation Program in Northern Territory's Beetaloo Basin

Tamboran Resources (ASX:TBN) completed stimulation and cleanout activities at three wells in the Northern Pilot Area of the Beetaloo Basin in the Northern Territory, according to a Monday filing with the Australian bourse.The program marks the first three-well zipper stimulation and "the largest campaign ever conducted in the Beetaloo Basin," with 178 stages placed across roughly 30,000 feet within the Mid Velkerri B Shale formation, the company said.The stimulation program averaged 6.7 stimulated stages per day, including records of 12 stages in a day and pumping operations exceeding 20 hours per day, per the filing.The company plans to tie the wells into the Sturt Plateau Compression Facility, where construction is nearing completion. The project remains within its AU$141 million gross budget, and first gas sales to the Northern Territory government are on track for the third quarter.

ASX:TBN
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Friday.Electro Optic Systems Holdings (ASX:EOS): -6%, AU$8.38Pro Medicus (ASX:PME): -5%, AU$199.56Tamboran Resources (ASX:TBN): -4%, AU$0.23Elevra Lithium (ASX:ELV): -4%, AU$8.67Austal (ASX:ASB): -4%, AU$3.77EVT (ASX:EVT): -3%, AU$12.33Telix Pharmaceuticals (ASX:TLX): -3%, AU$16.36Marimaca Copper (ASX:MC2): -3%, AU$7.51SiteMinder (ASX:SDR): -3%, AU$3.79Codan (ASX:CDA): -3%, AU$43.25

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Asia

Tamboran Resources Wins Favorable Federal Court Ruling for Northern Territory Gas Project; Shares Down 8%

Tamboran Resources (ASX:TBN) secured a victory in a case brought by Lock the Gate Alliance against its Northern Territory Beetaloo Basin project as the Federal Court dismissed the proceedings with costs, according to a Friday court document.Lock the Gate Alliance is a group of environment campaigners that brought forward concerns related to the water-intensive and controversial mining process called fracking.The court said it was not satisfied that Tamboran's operations constitute an unconventional gas development or that they will have a significant impact on a water resource.Lock the Gate Alliance did not immediately respond to' request for comment.Tamboran Resources' shares fell past 8% in recent Thursday trade.

ASX:TBN
Asia

Update: ASX Biggest Losers

(Updates to add tickers)Here are the ASX-listed companies with the biggest losses on Friday:Energy Resources of Australia (ASX:ERA): -20%, AU$0.002United Overseas Australia (ASX:UOS): -6%, AU$0.68Tamboran Resources (ASX:TBN): -7%, AU$0.22REA Group (ASX:REA): -4%, AU$141.51News Corp (ASX:NWS): -4%, AU$42.45Viva Energy Group (ASX:VEA): -4%, AU$2.24DigiCo Infrastructure REIT (ASX:DGT): -4%, AU$2.43Tuas (ASX:TUA): -3%, AU$2.62Anteris Technologies Global (ASX:AVR): -3%, AU$13.08Beach Energy (ASX:BPT): -2%, AU$1.06

ASX 200ASX:AVRASX:BPTASX:DGTASX:ERAASX:NWSASX:REAASX:TBNASX:TUAASX:UOSASX:VEA
Asia

Tamboran Resources Completes Acquisition of Oil, Gas Company

Tamboran Resources (ASX:TBN) completed the acquisition of Falcon Oil & Gas through the acquisition of its subsidiaries after the receipt of final approval from the Supreme Court of British Columbia, according to a Friday filing with the Australian bourse.The company now holds roughly 2.8 million net prospective acres, the filing said.The company issued about 6.5 million shares of common stock to eligible Falcon shareholders on completion of the transaction, per the filing.

ASX:TBN
Asia

Market Chatter: Tamboran's Shares Up 1% After Northern Territory Project Investor Says Australia Stands to Benefit from Gas Supply Diversification Push

Tamboran Resources' (ASX:TBN) shares rose 1% in recent trading on Tuesday after Bryan Sheffield, Formentera Partners' managing partner, an investor in the Beetalo project in the Northern Territory, said Australia's economy stands to benefit as buyers will seek to diversify their gas supplies in the wake of the Middle East conflict, the Australian Financial Review (AFR) reported.A liquefied gas facility in Qatar, which was damaged in the conflict, might probably need three to four years to be fully repaired, Sheffield, a US-based billionaire and oil and gas investor, noted.He said he would try to work out the best way to lower costs for the Northern Territory project. Tamboran signed a farm-in agreement with Formentera Partners, the owner of Daly Waters Energy, for the development of the project.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:TBN
Asia

Tamboran Resources Says Joint Venture Plans to Begin Drilling at Northern Territory Wells; Shares Jump 6%

Tamboran Resources (ASX:TBN) said the Beetaloo joint venture in the Northern Territory is set to start drilling activities of the Shenandoah South-7H and SS-8H wells on the SS1 pad in the middle of the year, according to a Thursday Australian bourse filing.The Beetaloo basin program for the year is expected to begin imminently with the stimulation of the SS-3H, SS-4H, and SS-5H wells on the SS2 pad. Tamboran has a 47.5% working interest in 20,309 acres and is the operator of the Northern pilot area. It has a 38.75% working interest in 20,309 acres and is the non-operator of the Southern pilot area.The Sturt Plateau Compression Facility was 88% complete at the end of April, and the facility construction remains on budget and on track to begin commissioning in the September quarter.Its shares jumped 6% in recent trading on Thursday.

ASX:TBN
Asia

GR Engineering Services Unit Secures Five-Year Contract for Northern Territory Facility

GR Engineering Services' (ASX:GNG) GR Production Services subsidiary won a five-year contract with Sturt Plateau Compression Facility Sub as trustee for the Sturt Plateau Compression Facility Sub Trust, for the provision of operations and maintenance services to the Sturt Plateau Compression Facility in the Northern Territory, according to a Monday filing with the Australian bourse.The contract has an estimated value of AU$57 million over five years and includes an option to extend the agreement by a further three years, the filing said.The Sturt Plateau Compression Facility Sub is an entity indirectly owned 50% by Tamboran Resources (ASX:TBN) and 50% by Daly Waters Infrastructure, per the filing.GR Engineering Services shares rose 1% in morning trade on Monday, while Tamboran Resources shares were down 2%.

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