Tamboran and Daly Waters Infrastructure secure financing for Sturt Plateau Compression Facility

Deal Analysis

Tamboran Resources and Daly Waters Infrastructure have secured up to A$179.8 million in financing for the Sturt Plateau Compression Facility (SPCF) in Australia. The financing, structured as a three-tranche facility, involves a consortium of lenders and is partially backstopped by a A$75 million guarantee from the Northern Territory Government (NTG) covering a portion of Tamboran's A$90 million share. This financing will enable the construction of a 40 MW transmission facility, a critical piece of infrastructure for natural gas development in the region. The deal is notable for its structure, involving both private and public sector participation. The NTG guarantee highlights the strategic importance of the SPCF to the region's energy infrastructure development. Tamboran Resources, as a key player in Australian natural gas exploration and production, is leveraging this financing to advance its projects. The involvement of Daly Waters Infrastructure further underscores the collaborative approach to developing this critical asset.

Financing of up to A$179.8 million for the Sturt Plateau Compression Facility.
Involvement of Tamboran Resources, a key player in Australian natural gas.
Partial backstop of A$75 million from the Northern Territory Government, demonstrating public sector support.
40 MW transmission capacity will enhance natural gas infrastructure.

Market Context: The deal occurs within the context of Australia's ongoing efforts to develop its natural gas resources and expand its energy infrastructure. The Northern Territory is a key region for natural gas exploration and production, and investments in transmission infrastructure are essential to facilitate the efficient transportation of gas to domestic and international markets.

Source Intelligence

KEY DETAILS

The financing is backstopped by an NTG Guarantee for up to A$75 million of Tamboran’s A$90m (50%) share. Quote: Tamboran and Daly Waters Infrastructure secured up to A$179.8 million (~US$118 million) via a three-tranche financing facility with a consortium of lenders for the construction of the Sturt Plateau Compression Facility (SPCF). The financing is backstopped by an NTG Guarantee for up to A$75 million of Tamboran’s A$90m (50%) share.

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Deal Size

Tamboran and Daly Waters Infrastructure, LP (DWI) have also secured up to A$179.8 million (~US$118 million) via a three-tranche financing facility with a consortium of lenders for the construction of the Sturt Plateau Compression Facility (SPCF).

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Capacity

An unconditional Gas Sales Agreement (GSA) between the BJV and the Northern Territory Government to supply 40 TJ per day of gas with a fixed gas price, escalated annually at Australian Consumer Price Index (CPI).

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Location

Tamboran and Daly Waters Infrastructure secure financing for Sturt Plateau Compression Facility

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PPA Details

An unconditional Gas Sales Agreement (GSA) between the BJV and the Northern Territory Government to supply 40 TJ per day of gas with a fixed gas price, escalated annually at Australian Consumer Price Index (CPI).

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Financials

Tamboran and Daly Waters Infrastructure, LP (DWI) have also secured up to A$179.8 million (~US$118 million) via a three-tranche financing facility with a consortium of lenders for the construction of the Sturt Plateau Compression Facility (SPCF).

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Announcement

September 30, 2025

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COD

Tamboran currently plans to commence the sale of appraisal gas to the Northern Territory Government in mid-2026, following the completion of construction of the SPCF and stimulation of the remaining three of five wells.

PARTIES MENTIONED IN SOURCE

T

Tamboran Resources Corporation developer

"Tamboran Resources Corporation (TBN) Tamboran Reaches Final Investment Decision on its Shenandoah South Pilot Project"

D

Daly Waters Infrastructure, LP developer

"Tamboran and Daly Waters Infrastructure, LP (DWI) have also secured up to A$179.8 million (~US$118 million) via a three-tranche financing facility with a consortium of lenders for the construction of the Sturt Plateau Compression Facility (SPCF)."

A

APA Group counterparty

"This follows the signing of agreements with Native Title Holders, the Northern Land Council and the Northern Territory Government to secure approvals required to commence sales of appraisal gas under the Beneficial Use of Gas (BUG) legislation."

N

Northern Territory Government counterparty

"This follows the signing of agreements with Native Title Holders, the Northern Land Council and the Northern Territory Government to secure approvals required to commence sales of appraisal gas under the Beneficial Use of Gas (BUG) legislation."

S

SPCF Trust counterparty

"A Gas Processing Agreement with the SPCF Trust (50% Tamboran, 50% DWI) that underpins financing of the SPCF infrastructure with a consortium of lenders and the operations of the facility."

N

Northern Land Council counterparty

"This follows the signing of agreements with Native Title Holders, the Northern Land Council and the Northern Territory Government to secure approvals required to commence sales of appraisal gas under the Beneficial Use of Gas (BUG) legislation."

high quality Enriched Feb 19, 2026