Todd Abbott, a veteran of the U.S. upstream sector, has been named chief executive officer of Tamboran Resources Corp., effective January 15, 2026. Abbott brings more than 25 years of experience, having held senior roles at Seneca Resources, Marathon Oil and Pioneer Natural Resources, and is expected to steer the company through the critical development phase of its Beetaloo Basin assets.
Tamboran’s focus is the Shenandoah South Pilot Project, which received a final investment decision on September 29‑30, 2025. The project is the company’s first production‑grade gas field and is slated to deliver first gas sales by mid‑2026. Abbott’s appointment follows the company’s recent milestone of securing a $32 million private investment in public equity (PIPE) and a $30 million share‑purchase plan (SPP), both aimed at bridging a cash shortfall and sustaining operations through the end of FY2026.
The company has raised significant capital in the past year, including a $56.1 million public offering, a $15 million acreage sale to Daly Waters Energy, and a $179.8 million Australian‑dollar facility for the Sturt Plateau Compression Facility. Despite these raises, Tamboran still faces a cash shortfall that the new CEO will need to address by completing the pending PIPE and SPP, securing additional debt, and accelerating the Falcon Oil & Gas acquisition, which will add roughly 2.9 million net prospective acres to the Beetaloo portfolio.
Richard Stoneburner, chairman and interim CEO, praised Abbott’s track record, noting that “his background at Seneca, Marathon and Pioneer demonstrates an ability to improve productivity while lowering costs, which aligns with our focus on safe and efficient execution and delivering value for shareholders from our Beetaloo Basin development.” Abbott echoed this sentiment, stating that “the scale and opportunity that Tamboran has in the Beetaloo Basin, supported by the quality of the board and management team, is what has attracted me to the CEO role.”
The appointment signals Tamboran’s intent to de‑risk the operational phase of the Beetaloo Basin. Abbott’s experience in capital discipline and safety is expected to accelerate drilling, stimulation and production timelines while keeping burn rates in check. The company’s strategic acquisition of Falcon Oil & Gas, expected to close in Q1 2026, will consolidate its acreage and strengthen its position in a region that the Northern Territory government has encouraged through the Beneficial Use of Gas legislation. Environmental concerns around water quality and greenhouse gas emissions remain a headwind, but Tamboran’s partnership with Baker Hughes for services and equipment is intended to mitigate operational risks.
With the new CEO in place, Tamboran aims to strengthen execution capabilities, improve cost control, and position itself to secure the pending financing. The company’s focus on first gas sales by mid‑2026, coupled with the Falcon acquisition and a robust capital‑raising track record, provides a clearer path to operational cash flow and investor confidence in the company’s long‑term growth prospects.
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