Tamboran Sources Corp has appointed Todd Abbott, former chief working officer (COO) of Seneca Sources Co LLC, as chief government officer (CEO) efficient January 15.
Abbott takes over from interim CEO Richard Stoneburner, who stays chair. Stoneburner assumed the position of interim CEO within the third quarter of 2025 following Joe Riddle’s resignation.
“Abbott has over 25 years’ upstream oil and fuel expertise spanning unconventional shale operations, enterprise planning, company finance and technique”, Tamboran stated in an internet assertion.
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Earlier than turning into COO of Seneca Sources, the place he gained Appalachian Basin expertise, Abbott was a part of Marathon Oil Corp and Pioneer Pure Sources Co. At Marathon and Pioneer, Abbott had oversight of Permian Basin, Eagle Ford and Alaskan operations, Tamboran famous.
“His background at Seneca, Marathon and Pioneer demonstrates a capability to enhance productiveness whereas reducing prices, which aligns with our deal with protected and environment friendly execution and delivering worth for shareholders from our Beetaloo Basin growth”, Stoneburner stated.
Abbott stated, “The size and alternative that Tamboran has within the Beetaloo Basin, supported by the standard of the board and administration crew, is what has attracted me to the CEO position”.
Abbott takes over what could be an enlarged Tamboran, which is within the means of finishing the acquisition of Falcon Oil & Fuel Ltd.
On September 30, 2025, Sydney-based Tamboran and British Columbia-incorporated Falcon introduced a definitive merger settlement that they stated would create a number one place of about 2.9 million web acres within the Beetaloo sub-basin onshore Australia’s Northern Territory.
“The acquisition is accretive to Tamboran stockholders given the implied acreage worth of $169 per acre displays a 4 p.c low cost to Tamboran’s present implied acreage worth of $176 per acre”, a joint assertion stated.
Tamboran and Falcon are already companions by means of the Beetaloo Joint Enterprise, which final 12 months sanctioned the Shenandoah South Pilot Mission. The pure fuel mission has a deliberate capability of 40 million cubic ft a day.
Tamboran expects the vote by its shareholders and a separate vote by Falcon shareholders on the transaction to be held subsequent month. Thereafter, throughout the identical month, the merger could be consummated after Falcon obtains a ultimate courtroom order in British Columbia, Tamboran stated in a regulatory submitting January 6, 2026.
The submitting stated Falcon subsidiary Falcon Oil & Fuel Australia Ltd had received shareholder approval for Tamboran’s takeover provide. Tamboran stated the acquisition of Falcon’s curiosity in Falcon Australia would give it “the choice of compulsorily buying” the remaining possession held by minority shareholders. Tamboran stated it intends to amass the remaining stake after finishing the broader transaction to take over Falcon.
To contact the creator, e-mail jov.onsat@rigzone.com
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