Tamboran Resources Corporation (NYSE: TBN) witnessed a significant surge in its stock price last Friday, with shares climbing 12.79% to close the session at $25.49. This came after an 8.00% extended-hours rise that saw TBN shares hit $27.53. The company’s announcement of the start of a significant stimulation program in the Beetaloo Basin was the catalyst for the stock’s spike.
Details of the Stimulation Campaign
Tamboran (TBN) has initiated stimulation activities being conducted with the Liberty Energy (NYSE: LBRT) at its Shenandoah South 2H sidetrack (SS-2H ST1) and 3H (SS-3H) wells, located within exploration permit EP 98 in the Beetaloo Basin. The campaign involves pumping up to 119 stimulation stages across the two wells, employing reduced spacing between stages to enhance efficiency.
The SS-2H ST1 well will include 43 stages over a 5,427-foot (1,654-meter) horizontal section, while the SS-3H well will comprise 76 stages spanning a 9,766-foot (2,977-meter) horizontal section.
Advanced Equipment Enhancing Operations
The campaign also marks the debut of Liberty Energy’s modern stimulation equipment in the Beetaloo Basin. This equipment, featuring an 80,000 hydraulic horsepower (HHP) frac spread, represents a technological leap, enabling more than a 25% increase in proppant intensity to over 2,800 pounds per foot.
The use of slickwater fluid design further optimizes the efficiency of the stimulation process. With a full lateral length of 15,193 feet (~4,631 meters) across both wells, this project is the largest of its kind in the Basin, averaging approximately 127 feet per stimulated stage.
Impact and Industry Context
These wells are among the first slated to provide reliable energy to Australia’s Northern Territory, with production aimed at supporting the proposed 40 MMcf/d Shenandoah South Pilot Project. Tamboran’s prior experience with wet-season stimulation campaigns, such as those at Amungee 2H and Shenandoah South 1H, reinforces its capability to execute complex operations year-round.
Part of the Oil & Gas – E&P sector, Tamboran boasts a market capitalization exceeding $300 million. Peer companies in the sector include COP and EOG, as highlighted by our ST screener with a complete list of similar stocks. This strategic campaign underscores Tamboran’s (TBN) commitment to innovation and operational excellence, positioning it as a key player in the energy sector.