Akin Gump Advises Tamboran Resources Ltd. in A$60 Million Acquisition of Origin Energy Joint Venture
Contact:
(Houston) – An Akin Gump team represented Tamboran Resources Ltd., a public natural gas company headquartered in Australia, in its A$60 million acquisition of Origin Energy’s Beetaloo Basin position and approximately A$195 million capital raise.
Tamboran has become the largest acreage holder in the Beetaloo Basin with approximately 1.9 million net prospective acres, resulting in an approximately 270 percent increase in Tamboran’s estimate of net 2C contingent gas resources to approximately 1.5 trillion cubic feet (TCF).
The acquisition will be funded through an institutional placement to new and existing shareholders to raise up to A$138 million (before costs) at A$0.21 per share, representing a 22.2 and 18.2 percent discount to the Company’s closing price and five-day volume-weighted average price (VWAP), respectively, on September 14, 2022.
To learn more, click here.
The deal team was led by corporate partner David Sweeney and included corporate partners Ryan Cox, Stephen Boone and Kevin Schott and associate Madeline Sullivan, and tax partners Julia Pashin and Alison Chen.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
###
