Tamboran Resources buys Origin Energy's Beetaloo Basin gas exploration stakes

A company facing fines for refusing to front a senate committee investigating gas subsidies has overnight become the biggest player in the Northern Territory's Beetaloo Basin. Key points: Tamboran Resources secured $195 million during its capital raise to buy Origin's permits The project is now heavily backed by American billionaire Bryan Sheffield Tamboran's CEO says he "couldn't disagree more" that Origin's sale was a red flag After racing to raise millions of dollars in investments, the company now has power to explore for gas buried deep in the basin, across almost 2 million acres. Climate Council energy analyst, Andrew Stock, a former Origin executive, said Origin's move to abandon its interests in the Beetaloo suggested the company recognised the crumbling case for new gas exploration in Australia. Origin previously described the Beetaloo as one of the most promising shale gas resources anywhere in the world and was the largest player testing commercial viability of the basin's gas deposits up until this week. Opponents take heart Beetaloo Basin Nurrdalinji Native Title Aboriginal Corporation chair Johnny Wilson said Origin's sale signalled their message of opposition was "finally getting through".