About Us
Daly Waters is a leading exploration and production company focused on the Beetaloo Basin in Australia's Northern Territory. We are backed by Formentera Partners, an Austin, Texas-based energy private equity firm and its operating arm, Formentera Operations LLC.
Daly Waters entered the Beetaloo Basin in 2022 through a 50/50 joint venture with Tamboran Resources. We acquired more than 1.9 million net acres in the core of the basin.
This large-scale onshore natural gas position offers multi-Tcf resource potential. The Beetaloo is comparable to the Marcellus Shale and other major U.S. shale plays, with similar geology, stacked-pay intervals, and consistent reservoir characteristics.
Strategy
Development Opportunity
Advancing a premier, large-scale natural gas shale play with strong potential for long-term success.
Future Potential
Production supports domestic natural gas needs and future LNG export opportunities.
Economic Impact
Generating economic opportunities for the regions, Traditional Owners and all Territorians.
Global Partnerships
Growing global partnerships with multiple respected service companies that support our development in the Beetaloo Basin.
Governmental Support
Newly elected officials in the Northern Territory recognize the promise of the Beetaloo Basin and support development.
Sustainable Practices
Prioritizing responsible resource development through safe, environmental stewardship and innovation.
Corporate Responsibility
Daly Waters aims to be good stewards for all stakeholders including the environment, landowners, employees and investors.
Our Team
Bryan Sheffield
Formentera Partners, Managing Partner
Blake London
Formentera Partners, Managing Partner
Paul Treadwell
Formentera Partners, Partner
Stephanie Reed
Formentera Partners, Partner
Alex Coté
Daly Waters, Co-Head of Australia Operations
David Close
Daly Waters, Co-Head of Australia Operations
Luke Jordan
Daly Waters, Facilities Engineer
Operations
Basin History
The Beetaloo Basin has been the site of petroleum exploration since the 1980s. Multiple operators tested conventional drilling in the 80s and 90s, but with no conventional discoveries or commercial success. Around 2010, the Basin saw a shift to unconventional oil and natural gas exploration. This shift was driven by explorers seeking to replicate the the North American "shale gas revolution."
Daly Waters
Daly Waters partners with Tamboran Resources in a joint venture of operations across three Beetaloo Basin permits (Energy Permit 76, 98 and 117) equaling 4 million gross acres. We continue to delineate and prove productivity and commerciality of the Basin through ongoing appraisal and pilot production activity in the Shenandoah South area.
Daly Waters' Beetaloo Basin Footprint
Daly Waters' position is larger than six of the major Midland Basin counties combined.
News
Formentera and INPEX Announce Strategic Partnership to Accelerate Development of Australia's Beetaloo Shale Resources
27 March, 2026
How Australia is About to Takeover the Energy Industry
8 February, 2025
EP 98 Operational Update: Shenandoah South-3H Drilled to TD in 25 Days
23 December, 2024
CLP Government Backs Beetaloo as Economic Powerhouse
12 November, 2024
SS-1H Achieves Commercial IP90 Flow Rate of 2.9 MMcf/d
26 April, 2024
Northern Territory Government Backs Beetaloo
23 April, 2024