Leadership Shift at Tamboran Raises Questions on Beetaloo Project Execution

Leadership Change at a Critical Juncture

Tamboran Resources Corporation has announced the appointment of Mr Todd Abbott as its new Chief Executive Officer, effective from January 15, 2026. This leadership change comes as the company transitions into the development phase of its flagship Beetaloo Basin natural gas project in Australia's Northern Territory.

Mr Abbott brings a wealth of experience, with over 25 years in upstream oil and gas, including senior roles at Seneca Resources, Pioneer Natural Resources, and Marathon Oil. His expertise spans unconventional shale operations, business planning, corporate finance, and strategic leadership. Notably, during his tenure as COO at Seneca Resources, he implemented organisational restructuring that enhanced accountability and capital efficiency, achieving a 10% reduction in capital expenditure alongside a 9% increase in production within a year.

Aligning Operational Excellence with Strategic Ambitions

Tamboran’s Chairman and interim CEO, Richard Stoneburner, expressed confidence in Mr Abbott’s appointment, highlighting his operational leadership and capital discipline as key assets for the company’s ambitions. The Beetaloo Basin project aims to bolster energy security for the Northern Territory and Australia's East Coast, positioning Tamboran as a significant player in the region’s natural gas landscape.

Mr Abbott himself emphasised the scale and opportunity presented by the Beetaloo Basin, noting the quality of the board and management team as factors that attracted him to the role. He also underscored his commitment to working collaboratively with stakeholders, including Native Title Holders, government entities, pastoralists, and shareholders, to realise what he describes as a potential world-class unconventional gas project.

Terms Reflect Confidence and Long-Term Vision

The terms of Mr Abbott’s employment reflect Tamboran’s commitment to securing experienced leadership through a competitive package. His base salary is set at US$550,000 annually, complemented by a short-term incentive target of 100% of his base salary and a substantial long-term incentive award valued at 300% of base salary in restricted and performance stock units. Additionally, a make-whole award with a 3-year cliff vesting is included, underscoring the company’s focus on long-term value creation.

His initial contract runs until July 30, 2027, after which he will transition to employment with Tamboran Services Pty Ltd. The agreement includes standard executive provisions such as confidentiality, non-compete, and non-solicitation clauses.

Looking Ahead

As Tamboran embarks on this next phase, Mr Abbott’s appointment signals a strategic emphasis on operational efficiency and disciplined capital management. The company’s ability to navigate the complexities of developing the Beetaloo Basin, including regulatory, environmental, and stakeholder considerations, will be critical to its success.

Investors and industry watchers will be keen to see how Mr Abbott’s leadership influences project execution, cost control, and production ramp-up in the coming months.