Australia's Tamboran Resources raises $75 million in New York listing (updated)

Tamboran Resources

27/06/2024 24:23

(Adds deal details starting from paragraph 2)
    By Scott Murdoch
       SYDNEY, June 27 (Reuters) - Australia's Tamboran
Resources  TBN.AX  has priced its shares at $24 each to raise
$75 million in its New York listing, according to the company's
filings on Thursday.
    The company sold 3.125 million shares in the deal that was
priced at the bottom end of the $24 to $27 per share price range
flagged when the deal launched last week.
        Its largest investor Sheffield Holdings, led by Texas
oilman and billionaire Bryan Sheffield and Liberty Energy
invested $20 million in the listing, Tamboran said on Thursday.
  
        Tamboran said in its initial U.S. filings it planned to
sell 6.5 million shares in the deal but the total number was
scaled back as the transaction was finalised.
  
        The  proceeds are expected to fund Tamboran's activity
in Australia's Beetaloo basin, tipped to be one of the world's
most promising shale gas fields and often compared with the
Marcellus Shale field in the U.S.
  
        The early stage natural gas exploration and production
company is focused on commercial development of natural gas
resources in Australia's Northern Territory.
  

 (Reporting by Scott Murdoch in Sydney; Editing by Christian
Schmollinger)
 ((Scott.Murdoch@thomsonreuters.com;))