Daly Waters is a leading exploration and production company focused on the Beetaloo Basin, backed by Formentera Partners, an Austin, Texas based energy private equity firm. Daly Waters entered the Beetaloo Basin in 2022 through a 50/50 joint venture with Tamboran Resources (NYSE: TBN), acquiring more than 1.9 million net acres in the core of the Beetaloo Basin. This large-scale, multi-stack dominant gas position offers significant resource potential and is comparable to the Marcellus Shale and other major U.S. shale plays, with homogeneous geology, consistent reservoirs, and stacked pay.

Formentera Partners is an independent energy private equity platform managing four funds with investments across 17 lines of business and more than $2.8 billion in equity under management. Formentera Operations' expansive development and production experience across all major US shale basins is leveraged to deliver reliable, efficient, and technically driven operations to optimize value and performance across diverse assets.