Tamboran and Bryan Sheffield completed the acquisition of a 77.5% stake in three Beetaloo Basin permits of Origin Energy for $170m.

Tamboran, a gas company, and Bryan Sheffield, an institutional investor, completed the acquisition of a 77.5% stake in three Beetaloo Basin permits of Origin Energy, an Australian energy utility, for $170m. “The acquisition of Origin’s assets secures the JV a binding GSA with Origin, a leading energy retailer and one of the largest suppliers on the East Coast. Under the GSA, the JV will supply Origin with up to 36.5 PJ per annum for 10 years, providing the JV with near-term pathway to cash flow. Alongside the recently announced Memorandum of Understanding with Jemena, which allows access to the Northern Gas Pipeline, the Origin GSA is expected to support our ambition to supply low- carbon dioxide gas to Australia’s East Coast gas market," Joel Riddle, Tamboran Resources Managing Director and CEO.