Appointment of Chief Operating Officer and Technical Team
Sydney, Aug 6, 2021 AEST (ABN Newswire) - Tamboran Resources Limited (
ASX:TBN) Managing Director and CEO, Joel Riddle, said: "We are excited to announce the appointment of Mr Faron Thibodeaux as the Chief Operating Officer of Tamboran Resources Limited ("Tamboran" or the "Company"). Mr Thibodeaux will be responsible for the delivery of Tamboran's safety, technical and operational performance in the Beetaloo Sub-basin, including working with Santos QNT Pty Ltd ("Santos"), our joint venture partner in EP 161, and executing our operated strategy in EP 136.
"Faron brings more than 40 years of knowledge and considerable experience in unconventional energy development to the Company. His experience in both the Permian Basin in the United States and Australian energy sector will be invaluable in the accelerated development of our Beetaloo assets.
"Faron will be supported by five new highly experienced technical and operational professionals, who collectively have drilled more than 5,000 unconventional horizontal shale wells in the US. We are delighted to have attracted a team of such a high calibre to Tamboran."
Faron Thibodeaux Experience
Mr Thibodeaux recently served as the Senior Vice President for Global Drilling, Completions and Production Engineering of APA Corporation, formerly Apache Corporation ("APA"). His previous assignment was Senior Region Vice President of APA's operations in the Permian Basin, the leading and most competitive basin in North America for unconventional drilling and technologies.
When Mr Thibodeaux was based in Midland, Texas, he oversaw the operational performance of up to 46 rigs in the Permian Basin. He served on the Boards of the Permian Basin Petroleum Association ("PBPA") and the Midland Chamber of Commerce. He also served as the Senior Region Vice President for several of APA's most successful assets, including the North West Shelf of Australia where he was based in Perth.
In addition, Mr Thibodeaux previously held senior technical and operational roles with Unocal Corporation and Chevron Corporation.
Mr Thibodeaux will report to Managing Director and CEO Joel Riddle. Subject to the lifting of travel restrictions, he will be based in Darwin, Northern Territory. As part of his role, Mr Thibodeaux will oversee, on behalf of Tamboran, the ongoing horizontal well drilling operations being conducted as part of the Tanumbirini appraisal campaign.
The 2021 Tanumbirini appraisal campaign comprises the drilling of two wells, Tanumbirini 2H ("T2H") and Tanumbirini 3H ("T3H"), located in the EP 161 permit within the 'Core' area of the Beetaloo Sub-basin in the Northern Territory. Santos is the operator of EP 161 with a 75% working interest and Tamboran holds a 25% working interest.
Mr Thibodeaux will also have responsibility for Tamboran's safety, technical and operational performance in Tamboran's 100% interest in the EP 136 permit, where the Company is planning the acquisition of 2D seismic and drilling of the Maverick #1/1H horizontal well within the next 12 months.
Experienced Technical Team
Mr Thibodeaux will be supported by five experienced technical and operational professionals that recently joined Tamboran from Pioneer Natural Resources, the largest producer in the Permian Basin. These professionals served Pioneer for a combined total of 40 years where they applied industry best-practices and leading-edge technology in unconventional shale development in what is today considered the premier basin in the United States.
Collectively, the Tamboran executive and operational team has more than 200 years of direct experience in the energy industry and has a strong track record of safely drilling and supervising over 5,000 shale horizontal wells in their careers.
Mr Thibodeaux commented on his appointment and the team: "The new team and I have studied closely the geology and drilling results associated with Tamboran's assets in the Core Beetaloo Sub-basin. We all recognise the substantial resource potential and the significant opportunities for accelerated early development and cannot be more excited to join the Company. This is one of those rare situations in our careers where our knowledge from decades of experience in the unconventional sector in the US can have an immediate impact on the Beetaloo Subbasin and the overall Australian energy market."
"Our goal at Tamboran is to bring this low CO2 gas to market as soon as possible. Our ability to execute begins with the superior geology that exists in the Core Beetaloo and the application of next generation proven technology, and know-how to getting this low emission energy into the market."
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About Tamboran Resources Corporation
Tamboran Resources Corporation (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.
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