Tamboran Venture Begins Beetaloo’s First Gas Sales to Northern Territory

Key Facts

Formentera Partners, Daly Waters Energy and joint-venture partner Tamboran Resources (TBN) announced the first natural-gas sales from the Shenandoah South Pilot Project. The deliveries are the first Beetaloo Basin gas sold into Australia’s Northern Territory network.

Gas flows through the Sturt Plateau Compression Facility, which began commissioning in late August and has nameplate capacity of 48,500,000 cubic feet per day (50 TJ per day). The partners said the supply will be used to power homes and businesses in Darwin.

The project aims to raise volumes to 38,800,000 cubic feet per day (40 TJ per day) by the end of 2026, contracted to the Northern Territory Government under a take-or-pay agreement lasting up to 15 years. Start-up work is also scheduled to finish by the end of 2026.

The sales give the project its first gas-production revenue stream, but they do not mark completion of basin development. The take-or-pay structure limits demand risk for contracted volumes, while the pace of the ramp-up, well stability and operating costs remain central to the project’s economics.

New infrastructure provides the route to market. APA Group said the Sturt Plateau Pipeline connects with the Amadeus Gas Pipeline to move gas north across the Territory. APA and Tamboran had announced first-gas commissioning on September 1, 2026, before sales were subsequently confirmed.

Tamboran describes Shenandoah South as the first step in developing Beetaloo and a source of production data for its longer-term plans. The next phase will therefore be judged on repeatable performance and sustained flows during the ramp-up, not solely on the first-sale milestone.

TBN closed on the New York Stock Exchange at $39.43 on September 4, 2026, after trading between $38.56 and $39.50. The next disclosed operating markers are reaching 40 TJ per day and completing start-up work by the end of 2026.