Bass Oil reported steady January production with a notable regulatory green light for its Vanessa gas field acquisition and a $3.5 million grant to accelerate the Kiwi gas field development.
- January sales revenue of A$471,374 with 237 barrels per day production
- Regulatory approval received for Vanessa gas field acquisition
- South Australian Government grants $3.5 million for Kiwi gas field development
- Indonesian production steady but slightly declined
- Preparations underway for Bunian 6 well drilling in Indonesia
January Production and Revenue
Bass Oil Limited delivered a solid operational update for January 2026, reporting total sales revenue of A$471,374 and an average daily production of 237 barrels of oil per day (bopd). The company’s Cooper Basin operations, including the 100% owned Worrior and Padulla oil fields, maintained steady output at 89 bopd, with oil sales prices rising 5% to an average of A$98.86 per barrel.
Meanwhile, Indonesian operations at the Tangai-Sukananti oil fields saw a slight 2% dip in production to 148 bopd, attributed to minor downtime and natural field decline. Despite this, Bass Oil sold 4,538 barrels at an average price of US$63.01 per barrel, underscoring the company’s diversified production base.
Vanessa Gas Field Acquisition Approved
A key highlight was the regulator’s approval of Bass Oil’s acquisition of the Vanessa gas field, which includes a gas processing facility and a 5-kilometre pipeline linking to the Cooper Basin network. This approval paves the way for Bass to recommission the Vanessa well and infrastructure, targeting first gas sales into the east coast market in the second half of 2026.
The acquisition also opens avenues for reserve growth through fracture stimulation of conventional and tight gas formations, as well as advancing commercialisation studies on deep coal resources within the permit area. This strategic move positions Bass Oil to expand its gas portfolio and tap into emerging energy markets.
Government Grant Accelerates Kiwi Gas Field Development
Adding momentum to its gas ambitions, Bass Oil secured a $3.5 million grant from the South Australian Government to support and accelerate development of the Kiwi gas field. This funding is a significant boost for the project, which is also exploring additional gas prospects nearby and investigating a new Triassic source rock that could enhance hydrocarbon potential.
The company continues to seek further funding, including potential farm-down arrangements, to fully finance the Kiwi project. The ongoing Triassic gas study and seismic reprocessing efforts aim to refine reservoir imaging and unlock additional value.
Indonesian Development Progress
In Indonesia, Bass Oil is progressing development activities with all materials for the Bunian 6 oil well delivered to site. Tender evaluations for drilling services have been completed, with contract approval pending. The timing of drilling commencement will be announced once the rig is secured, marking a critical step in sustaining production levels in the region.
Overall, Bass Oil’s January update reflects a company balancing steady production with strategic growth initiatives in both oil and gas sectors, supported by regulatory approvals and government funding.
Bottom Line?
With Vanessa gas field approval and government backing for Kiwi, Bass Oil is gearing up for a transformative 2026.
Questions in the middle?
- When exactly will Vanessa gas field recommissioning and first gas sales commence?
- What are the prospects and timelines for securing additional funding for the Kiwi gas project?
- How will the Bunian 6 well drilling impact Indonesian production and overall company output?