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

05:48 AM EDT, 09/08/2026 (MT Newswires) -- 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.