Tamboran Resources Ltd (ASX:TBN, OTC:TBNRF) has tapped Stephanie Reed and Ryan Dalton for two non-executive director roles, effective today.
Pivotal assets to business
Reed's role at Formentera Partners makes her a pivotal asset, particularly in relation to Tamboran’s Beetaloo Basin joint venture with Daly Waters Energy.
Dalton’s financial acumen is considered crucial for strategic planning and capital-raising initiatives.
The appointments follow a recent capital raise completed in July 2023 and come after an agreement with Bryan Sheffield, Tamboran’s largest shareholder, to augment the board.
Reed brings a wealth of industry experience, having served for more than 15 years in the oil and gas sector.
Currently a partner at Formentera Partners, she oversees various facets of business, including business development, geosciences and marketing.
Reed was formerly vice president of Oil and Gas Marketing and Midstream at Pioneer Natural Resources (NYSE:PXD) and has led business development and integration efforts for assets valued at more than US$20 billion.
Dalton, with more than two decades of financial experience, recently served as executive vice president and chief financial officer at Parsley Energy. His expertise encompasses corporate finance, strategic planning and risk management.
Expansion of board
This expansion of the board comes after Tamboran’s shareholders approved an amendment to increase the maximum number of directors to nine on August 21. The new appointments are expected to fortify Tamboran's strategic planning and execution in its future endeavours.
Both Reed and Dalton have significant experience working in senior roles and are anticipated to bring valuable perspectives to Tamboran's board.
The company remains committed to strengthening its leadership team and enhancing corporate governance as it continues to grow.
Chair Dick Stoneburner said: “We are delighted to be joined by two very knowledgeable directors who will complement the corporate finance, corporate strategy and business development expertise of our existing board members.
“Their expertise will be important as we advance our strategy and growth ambitions of the business, which is focused on financing the phased commercialisation of our Beetaloo Basin assets via the Northern Territory, East Coast and LNG markets.
“We look forward to welcoming both directors to Tamboran’s board.”