Daly Waters Energy (DWE) is a world-class shale operator focused on the Beetaloo Basin in Australia's Northern Territory. We are backed by Formentera Partners, an exploration and production company with a private equity platform based in Austin, Texas.

DWE 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 with 116 trillion cubic feet of proven resource potential.

We took 20 years of U.S. shale experience and applied it to rock that is similar to the U.S. Marcellus Shale. We are anchored in deep U.S. drilling, completion and technology expertise and plan to be the most active operator in the Beetaloo for years to come helping meet Australia's domestic energy needs.

In 2026, DWE and INPEX announced a strategic partnership to accelerate development and commercialization of the Beetaloo, combining our shale expertise with INPEX's global LNG capabilities. The partnership positions the Beetaloo and the Northern Territory as a global gas exporter helping to diversify LNG supply with low-cost reliable gas.