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Tamboran Resources to accelerate development with COO, technical team appointment

Published: 21:23 05 Aug 2021 EDT

Tamboran Resources Ltd - Tamboran Resources to accelerate development with COO, technical team appointment
Collectively, incoming executive Faron Thibodeaux (pictured) and the new operational team bring more than 200 years of direct experience in the energy industry.

Tamboran Resources Ltd (ASX:TBN) has appointed exploration and production executive Faron Thibodeaux as chief operating officer.

Thibodeaux will be supported by five experienced technical and operational professionals that recently joined Tamboran from Pioneer Natural Resources (NYSE:PXD), the largest producer in the Permian Basin in the United States.

Thibodeaux brings to the board more than 40 years of experience in the energy industry and will be based out of Darwin in the Northern Territory.

“Experience in unconventional energy development”

Tamboran managing director and CEO Joel Riddle said: “We are excited to announce the appointment of Faron Thibodeaux as the chief operating officer of Tamboran Resources.

“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.”

Experience across US and Australia

Thibodeaux recently served as the senior vice president for global drilling, completions and production engineering at APA Corporation, formerly Apache Corporation (NYSE:APA).

His previous assignment was senior region vice president at APA’s operations in the Permian Basin, described as the leading and most competitive basin in North America for unconventional drilling and technologies.

At 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, Thibodeaux previously held senior technical and operational roles with Unocal Corporation and Chevron Corporation (NYSE:CVX).

Oversee drilling operations

In his new role, Thibodeaux will report to managing director and CEO Joel Riddle, subject to the lifting of travel restrictions.

As part of his role, Thibodeaux will oversee, on behalf of Tamboran, the ongoing horizontal well drilling operations being conducted as part of the Tanumbirini appraisal campaign.

The 2021Tanumbirini appraisal campaign includes the drilling of two wells, Tanumbirini 2H (T2H) and Tanumbirini 3H (T3H), located in the EP 161 permit within Tamboran's core Beetaloo Sub-basin holding in the Northern Territory.

Santos Ltd (ASX:STO) operates EP 161 with a 75% working interest, while Tamboran holds the remaining 25% stake.

Importantly, 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.

Industry best practices and leading-edge technology

Thibodeaux will be joined by five gas experts that previously worked with Pioneer Natural Resources (NYSE:PXD), the largest producer in the Permian Basin.

These professionals served Pioneer for a combined 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.

Riddle adds: “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”

“Getting low-emission energy into the market.”

Tamboran COO Faron Thibodeaux said: “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.”

- Ephrems Joseph

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