ASX All Ords energy stock Tamboran Resources Corp (ASX: TBN) is charging higher today.
Tamboran Resources shares closed yesterday trading for 23 cents. In early morning trade on Friday, shares are changing hands for 24 cents apiece, up 4.4%.
For some context, the All Ordinaries Index (ASX: XAO) is up 0.7% at this same time, while the S&P/ASX 200 Energy Index (ASX: XEJ) is down 0.6% amid an overnight retrace in the oil price.
With today's intraday boost factored in, the Tamboran Resources share price is up 50% since this time last year, outpacing the 2.9% 12-month gains delivered by the All Ords.
Here's what's catching investor interest today.
ASX All Ords energy stock lifts on acquisition completion
Tamboran Resource shares are marching higher after the company announced the completion of its acquisition of Canadian-based Falcon Oil & Gas Ltd via the purchase of its subsidiaries.
The ASX All Ords energy stock first revealed its intentions to acquire Falcon back in September.
Following receipt of final court approval from the Supreme Court of British Columbia, the acquisition is now a done deal.
Having acquired Falcon's tenements in the Northern Territory's Beetaloo Basin, Tamboran now holds around 2.8 million net prospective acres in the onshore gas basin. This sees the ASX All Ords energy stock holding the largest acreage position in the Beetaloo Basin.
In accordance with the deal, Tamboran has now issued 6,537,503 shares to eligible shareholders of Falcon.
In line with its initial acquisition announcement, Tamboran also paid a cash consideration of US$23.7 million.
The company, which is also listed on the New York Stock Exchange (NYSE), said it now has a pro forma market capitalisation of approximately US$1.2 billion (AU$1.68 billion).
What did Tamboran Resources management say?
Commenting on the acquisition completion boosting the ASX All Ords energy stock today, Tamboran Resources CEO Todd Abbott said, "I would like to thank both Falcon and Tamboran shareholders for their strong support and approval of the transaction."
Abbott added:
This acquisition represents a logical consolidation between the two companies and provides the combined company with the largest acreage position in the Beetaloo Basin with approximately 2.8 million net prospective acres, which covers the majority of the Beetaloo depocenter.
Looking to what's ahead for Tamboran Resources, Abbott said:
Our focus now turns to the 2026 operating program, which is planned to be our most active year of operations in the Beetaloo Basin, including the drilling of at least four wells and stimulation of at least five.
Tamboran has commenced the three‑well stimulation program on the SS2 well pad, with the wells expected to be tied into the Sturt Plateau Compression Facility during the third quarter of 2026.
He noted that the first gas sales from the commissioning of the pilot project remain on track for the third quarter of 2026.
The post Guess which ASX All Ords energy stock is jumping higher today on big acquisition news appeared first on The Motley Fool Australia.
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