$TBN

Sector Update: Energy Stocks Rise Tuesday Afternoon

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.5%.The Philadelphia Oil Service Sector Index was decreasing 0.6%, and the Dow Jones US Utilities Index rose 1.1%.In geopolitical news, Yemen's Tehran-backed Houthis attacked energy facilities and cities in US ally Saudi Arabia on Tuesday, wounding more than 70 people and underscoring the risk of the Iran conflict escalating into a wider regional war, Reuters reported. Saudi Arabia said the attacks stopped operations at several energy facilities in the kingdom's south, Bloomberg reported, while noting a pick-up in buying by China, the world's largest importer.Front-month West Texas Intermediate crude oil rose 0.6% to $92.02 a barrel, and the global benchmark Brent crude contract eased 0.1% to $96.93 a barrel. Henry Hub natural gas futures fell 3% to $2.89 per 1 million BTU.In corporate news, Equinor (EQNR) and Standard Lithium's (SLI) Smackover Lithium partnership said Tuesday that a preliminary economic assessment of the Franklin project in northeast Texas estimates annual production of up to 70,000 tonnes of battery-quality lithium carbonate. Equinor shares rose 2%, and Standard Lithium added 1.5%.Solaris Energy Infrastructure (SEI) shares jumped past 16% after the firm said Tuesday that it now expects Q3 adjusted Ebitda of $110 million to $130 million, up from its previous guidance of $90 million to $105 million.Tamboran Resources (TBN) and Formentera Partners' joint venture, Daly Waters Energy, has recorded its first natural gas sales from the Shenandoah South Pilot Project in Australia's Beetaloo Basin, Formentera said. Tamboran shares gained 3.3%.TotalEnergies (TTE) shares rose 1.6% after the firm said Papua LNG has reached key contractual and commercial milestones, advancing the project toward a final investment decision.

Sector Update: Energy Stocks Rise Pre-Bell Tuesday

Energy stocks were rising pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.9%.The United States Oil Fund (USO) was up 1.4% and the United States Natural Gas Fund (UNG) was 0.6% higher.Front-month US West Texas Intermediate crude oil was 1.3% higher at $92.65 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.7% to $97.72 per barrel, and natural gas futures were down 0.3% at $2.97 per 1 million British Thermal Units.TotalEnergies (TTE) shares were up more than 1% after the company said Papua LNG has reached key contractual and commercial milestones, advancing the project toward a final investment decision.Solaris Energy Infrastructure (SEI) stock was up more than 12% after the company said it now expects Q3 adjusted ebitda of $110 million to $130 million, up from its previous guidance of $90 million to $105 million.Tamboran Resources (TBN) and Formentera Partners' joint venture, Daly Waters Energy, has recorded its first natural gas sales from the Shenandoah South Pilot Project in Australia's Beetaloo Basin, Formentera said. Tamboran Resources stock was up more than 3% premarket.

Tamboran Resources, Formentera Joint Venture Begins Natural Gas Sales From Beetaloo Basin

Tamboran Resources (TBN) and Formentera Partners' joint venture, Daly Waters Energy, has recorded its first natural gas sales from the Shenandoah South Pilot Project in Australia's Beetaloo Basin, Formentera said Monday.The first natural gas produced from the Beetaloo Basin has been sold into the Northern Territory gas network, the company said.The gas is being transported through the Sturt Plateau Compression Facility, which began commissioning in late August and has a nameplate capacity of 48.5 million cubic feet per day, or 50 terajoules per day, Formentera said.Formentera said gas volumes are expected to increase to the full contracted capacity of 38.8 million cubic feet per day, or 40 terajoules per day, by the end of the year under a take-or-pay 15-year agreement with the Northern Territory Government.Formentera said start-up work is expected to be completed by the end of 2026.

Fomentera, Tamboran Sell First Gas From Australia's Beetaloo

Fomentera Partners, its Australian operating company Daly Waters Energy and joint-venture partner Tamboran Resources (TBN) have sold their first natural gas from Australia's Beetaloo Basin, Fomentera said in a statement on Monday.The sales of gas from its Shenandoah South Pilot Project are the first to have ever been made from the Beetaloo basin as a whole. The energy resources will be used for power generation in Darwin, capital of the Northern Territory, Fomentera said.The gas will be processed at the Sturt Plateau Compression Facility that started up in late August with capacity of 48.5 million cubic feet, or 50 terajoules per day, the statement said.Volumes sold into the Northern Territory gas network will ramp up to an eventual 38.8 MMcf/d or 40 TJ/d as per take-or-pay contractual obligations, by the end of the year. The contract has a 15-year term.

Tamboran Resources Begins Gas Commissioning at Sturt Plateau Compression Facility

Tamboran Resources (TBN) joint venture Sturt Plateau Compression Facility Trust has begun gas commissioning of the facility using gas from the Shenandoah South 2 well pad, the company said Tuesday.The facility can process up to 50 terajoules per day of gas, with 40 TJ/d contracted to the Northern Territory Government of Australia under a long-term gas sales agreement, the company said.Construction remains on schedule and within the 141 million Australian dollars ($100.8 million) budget, the company said, adding that it expects to begin gas sales to the Northern Territory Government soon.

Formentera Advances Beetaloo Development With 48.5 MMcf/d Gas Facility

Formentera Partners has begun natural gas commissioning at the Sturt Plateau Compression Facility, the final piece of infrastructure needed to supply Northern Territory customers, it said Sunday.Daly Waters Energy, Formentera's Australian operating company, owns the facility through Daly Waters Infrastructure in a 50/50 joint venture with Tamboran Resources (TBN), which operates the project.The Beetaloo Basin facility has a nameplate capacity of 48.5 million cubic feet per day, or 50 terajoules per day.A take-or-pay agreement with the Northern Territory government covers 38.8 million cubic feet per day, or 40 terajoules per day, for up to 15 years.All five wells at the Shenandoah South 2 pad have been completed and connected to the compression facility, according to the company."Four years ago, we said we would bring U.S. shale know-how to the Northern Territory, and today the plant is built, five wells are tied in, three additional wells are being drilled, and natural gas is flowing through the facility," said Bryan Sheffield, managing partner of Formentera.Formentera said the plant arrived on schedule and within the gross $99 million budget, and that the company also plans to sell natural gas during the commissioning period.Formentera entered the Beetaloo Basin in 2022 and has since acquired 1.9 million net acres, making it one of the basin's largest onshore shale positions.Appraisal wells indicate the acreage holds multi-TCF potential, which could support demand in the Northern Territory and eventually supply Australia's East Coast cities and industry.In March 2026, Formentera and Daly Waters partnered with INPEX to accelerate basin development, and in August, the group announced plans to add a Helmerich & Payne (HP) FlexRig, expected to arrive in Q2 2027.Price: $37.53, Change: $+0.38, Percent Change: +1.02%

Tamboran Resources, Daly Waters JV-Owned Australia Facility Starts Natural Gas Commissioning

Tamboran Resources (TBN) and Daly Waters Energy joint venture-owned Sturt Plateau facility in Australia has started natural gas commissioning, Formentera Partners and Daly Waters said Sunday.The facility is the final piece of infrastructure needed for natural gas to flow from the Beetaloo Basin to Australia's Northern Territory.The facility has a nameplate capacity of 48.5 million cubic feet per day of natural gas, with 38.8 MMcf/d contracted to the Northern Territory government under a take-or-pay agreement running for up to 15 years, the companies said.Tamboran and Daly Waters own the plant through a 50/50 joint venture, SPCF Trust.

Higher Oil Prices Lift US E&Ps, Fuel M&A Discussions, RBC Says

US oil producers are using higher crude prices to strengthen shareholder returns and debt plans as merger interest grows, RBC Capital Markets said in a Friday note.Oil prices reached a three-week high of $87 per barrel after President Donald Trump announced a "crushing economic operation" against Iran, RBC said.Despite higher prices, public US producers have shown little interest in sharply increasing output because structural demand growth remains limited.Instead, stronger oil prices have prompted producers to focus on debt repayment and shareholder returns, while some companies are also considering opportunistic hedging strategies.Trump also signaled potential support for reviving the Keystone XL pipeline, which could transport 830,000 barrels per day of heavy crude from Canada and the Bakken to Nebraska pipeline facilities before reaching Gulf Coast refineries.RBC said uncertainty remains over how Keystone XL would compete with rising Venezuelan crude volumes at US refineries as US producers prepare to sign supply contracts with Venezuela's state-owned oil company.Over the week, oil-weighted exploration and production companies gained 10%, while gas-weighted exploration and production companies rose 2%; large-cap and small- to mid-cap producers each advanced 7%, RBC saidThe SPDR S&P Oil & Gas Exploration & Production ETF rose 5%, while WTI gained 6% and Henry Hub natural gas increased 1% over the week, according to RBC.Merger discussions remained a key investor theme, with Exxon Mobil (XOM), Chevron (CVX), APA (APA), ConocoPhillips (COP), Diamondback Energy (FANG), Devon Energy (DVN) and EOG Resources (EOG) cited as potential buyers or targets.Antero Resources (AR), EQT (EQT), Ovintiv (OVV), Matador Resources (MTDR), Permian Resources (PR) and Infinity Natural Resources (INR) were also among the names investors identified in merger discussions, RBC said.Generalist investor interest in energy increased as WTI approached $90/bbl, while investors also raised questions about budgets and rising oilfield-services costs at higher crude prices, RBC said.Near-term catalysts include Devon Energy's plans to sell assets, Expand Energy's (EXE) new chief executive, and Tamboran Resources' (TBN) first gas sales.Price: $166.00, Change: $-0.15, Percent Change: -0.09%

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks rose late Monday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index lost 0.4%, and the Dow Jones US Utilities Index shed 0.6%.Crude oil prices turned higher amid threats to Saudi Arabian crude oil supplies. Iran said mediators have been in touch with proposals on how to ease hostilities with the US after nine days of clashes, while tensions remained high after a threat by the Tehran-backed Houthi group against Saudi Arabia, Bloomberg reported.Houthis in Yemen said Monday they were imposing a naval blockade on Saudi Arabia, Reuters reported. The full closure of the Bab el-Mandeb strait would reduce global oil supply by 7% as it would leave most of Saudi oil exports unable to leave the region, the report said. The disruption would add to the reduction in oil flows from the war, which has already cut shipments by 10% of global supply, it added.West Texas Intermediate crude oil rose 0.5% to $82.86 a barrel, and global benchmark Brent added 0.8% to $88.80 a barrel. Henry Hub natural gas futures fell 1.9% to $2.86 per 1 million BTU.In corporate news, Magnolia Oil & Gas (MGY) agreed to buy privately-held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia shares were down 5.6%.Fervo Energy (FRVO) shares gained 4% after Jefferies upgraded the stock to buy from hold while cutting its price target to $34 from $41.Tamboran Resources (TBN) has completed stimulation, cleanout, and completion activities of the Shenandoah South 3H, 4H, and 5H shale gas wells in the Northern Pilot Area of the Beetaloo Basin in Australia, the company said Monday. Shares rose 2.7%.BP (BP) said Monday it has agreed to sell its mobility, convenience and electric vehicle charging businesses in Austria to volenergy. Shares added 0.4%.

Sector Update: Energy Stocks Rise Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.The Philadelphia Oil Service Sector Index was increasing 0.9%, and the Dow Jones US Utilities Index was shedding 0.5%.In geopolitical news, US Secretary of State Marco Rubio said Sunday night the US "remains open" to talks despite the weekend's violence, and an Iranian official said their side was similarly open to discussions, CNN reported. Iranian Interior Minister Eskandar Momeni is heading a high-level delegation to neighboring Pakistan at the invitation of his Pakistani counterpart, news reports said Monday. The trip comes after Iran's Foreign Ministry announced mediators continue to exchange proposals to get peace talks back on track after nearly two weeks of bombardment.Front-month West Texas Intermediate crude oil decreased 0.1% to $82.42 a barrel, and the global benchmark Brent crude contract rose 0.4% to $88.49 a barrel. Henry Hub natural gas futures fell 2.3% to $2.85 per 1 million BTU.In corporate news, Magnolia Oil & Gas (MGY) agreed to buy privately-held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia shares were down 4.6%.Tamboran Resources (TBN) has completed stimulation, cleanout, and completion activities of the Shenandoah South 3H, 4H, and 5H shale gas wells in the Northern Pilot Area of the Beetaloo Basin in Australia, the company said Monday. Its shares climbed 1.5%.BP (BP) agreed to sell its BP Retail Austria unit, which houses its mobility, convenience, and electric vehicle charging businesses in the country, to Volenergy, according to a Monday statement. BP shares added 0.6%.

Tamboran Resources Completes Stimulation of Three Wells in Australia's Beetaloo Basin

Tamboran Resources (TBN) has completed stimulation, cleanout, and completion activities of the Shenandoah South 3H, 4H, and 5H shale gas wells in the Northern Pilot Area of the Beetaloo Basin in Australia, the company said Monday.The stimulation activities were executed by the hydraulic fracturing fleet of Liberty Energy (LBRT), according to a statement.Tamboran said it plans to tie in the wells into the Sturt Plateau Compression Facility, which is nearing completion.Tamboran said it has also started drilling activities at the 7H, 8H, and 9H wells on the SS1 well pad using a rig from Helmerich & Payne (HP). The company added that it plans to stimulate the three wells in H2.Price: $31.44, Change: $+0.01, Percent Change: +0.03%

Roth Capital Initiates Tamboran Resources at Buy

Tamboran Resources (TBN) has an average rating of buy and mean price target of $55.98, according to analysts polled by FactSet.

Tamboran Resources Fiscal Q3 Loss Narrows

Tamboran Resources (TBN) reported a fiscal Q3 loss late Wednesday of $0.42 per diluted share, narrowing from a loss of $0.458 a year earlier.The company had no revenues from its gas operations as of March 31.

Earnings Flash (TBN) Tamboran Resources Posts Fiscal Q3 Per Share Loss of $0.42

RBC Upgrades Tamboran Resources to Outperform From Sector Perform, Raises Price Target to $55 From $38, Keeps Speculative Risk

Tamboran Resources (TBN) has an average rating of buy and mean price target of $57.40 according to analysts polled by FactSet.

Tamboran Resources Insider Bought Shares Worth $251,774, According to a Recent SEC Filing

Scott D Sheffield, Director, on April 08, 2026, executed a purchase for 6,990 shares in Tamboran Resources (TBN) for $251,774. Following the Form 4 filing with the SEC, Sheffield has control over a total of 292,430 common shares of the company, with 292,430 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1997652/000119312526151346/xslF345X05/ownership.xml