Former Parsley Energy Inc. CEO Bryan Sheffield has acquired a roughly 7.4% stake in Australian natural gas explorer Tamboran Resources Ltd., executives said Tuesday.


Founded in 2009, Tamboran styles itself as “a natural gas company that intends to play a  constructive role in the global energy transition towards a lower carbon future.” The producer develops unconventional natural gas resources in the Beetaloo sub-basin within the Greater McArthur Basin in the Northern Territory of Australia.

The largely untapped Beetaloo contains estimated undiscovered, technically recoverable mean resources of 429 million bbl of continuous oil and 8 Tcf of continuous gas, according to a 2018 assessment by the U.S. Geological Survey.

The Sydney-based firm said it had raised about $35...