Bass Oil October Production Rises 4% to 244 bopd, Sales Hit A$653K
Bass Oil Limited reported a 32% jump in October sales revenue alongside a 4% rise in daily production, while advancing its strategic Vanessa gas field acquisition targeting first gas sales in the second half of 2026.
- October sales revenue up 32% to A$653,183
- Daily production averages 244 barrels of oil per day, a 4% increase
- Cooper Basin production slightly down due to equipment wear
- Indonesian production rises over 9% following enhancement program
- Vanessa gas field acquisition nearing regulatory approval, first gas targeted H2 2026
October Production and Revenue Gains
Bass Oil Limited has delivered a solid operational update for October 2025, reporting a 32% increase in sales revenue to A$653,183. This uplift was supported by a 4% rise in daily oil production, which averaged 244 barrels of oil per day (bopd) across the group. Total monthly production reached 7,560 barrels, with sales closely tracking production at 7,350 barrels.
The company’s Cooper Basin assets, including the 100% owned Worrior and Padulla oil fields, produced 2,784 barrels in October, averaging 90 bopd. While this represented a slight dip compared to September, it was attributed to wear in the Padulla 3 well jet pump, scheduled for maintenance in early December. Despite this, facility uptime remained impressively above 99%, underscoring operational reliability.
Indonesian Operations and Production Enhancement
Bass Oil’s Indonesian operations in the Tangai-Sukananti fields showed robust growth, with production increasing over 9% to 4,776 barrels net to Bass. This followed the completion of a three-well production enhancement program in early October, which boosted output by nearly 20% compared to September. The average oil price realized in Indonesia was US$62.23 per barrel, reflecting steady market conditions. The company is also preparing to drill the Bunian 6 development well, though timing remains uncertain due to rig availability.
Vanessa Gas Field Acquisition Nears Approval
A key highlight is Bass Oil’s progress on acquiring the Vanessa gas field, which includes a processing facility and pipeline linked to the Cooper Basin gas network. Regulatory approval is expected shortly, with first gas sales targeted for the second half of 2026. This acquisition not only opens a new revenue stream but also positions Bass to tap into significant untested conventional and tight gas reserves through fracture stimulation. Moreover, the Vanessa well’s penetration of deep coal formations offers promising potential for commercializing a large deep coal gas resource.
Strategic Studies and R&D Initiatives
Bass is advancing its deep coal commercialization study, led by SLB, focusing on well and fracture stimulation design using the Vanessa well as a model. This aligns with broader Cooper Basin joint venture efforts, including Santos’ drilling of horizontal wells with multi-stage fracking to pilot commercial production. Additionally, Bass has initiated a Triassic gas study around its Kiwi gas field, identifying new prospects that could enhance future development potential. The company also lodged an R&D tax credit claim for FY24 related to its deep coal gas work, potentially securing a 43.5% cash rebate on qualifying expenditures.
Overall, Bass Oil’s October update reflects a company steadily growing production and revenue while strategically positioning itself for future gas market participation and resource commercialization. The coming months will be critical as regulatory approvals and drilling plans unfold.
Bottom Line?
With production gains and the Vanessa gas field acquisition on the horizon, Bass Oil is gearing up for a pivotal 2026.
Questions in the middle?
- When will regulatory approval for the Vanessa acquisition be finalized?
- What is the timeline and cost outlook for drilling the Bunian 6 well?
- How quickly can Bass commercialize the deep coal gas resource in PEL 182?
