Latest Energy News

CSIRO detected hydrogen in every successfully analysed rock sample from Prominence Energy’s Eyre Peninsula project, while identifying two possible geological generation mechanisms and an early seal candidate. The findings sharpen the company’s target-selection work, but stop well short of proving a recoverable accumulation.

Marathon Petroleum reported a sharp third-quarter earnings increase, powered by much stronger refining margins and full refinery utilisation. The company also lifted its dividend, added US$5 billion to its buyback authorisation and agreed to sell two refineries for US$4.2 billion.

Macallum New Energy has completed the first tranche of its placement, raising A$2.88 million before costs through the issue of 20.6 million shares. The company has also lodged a cleansing notice confirming that no excluded information required disclosure at the notice date.

Williams delivered higher third-quarter earnings and cash generation while keeping its 2026 guidance intact. The Momentum Midstream acquisition and a growing slate of pipeline, storage and power projects are now central to the company’s expansion case.

Provaris Energy advanced DNV approval work for its 25,000 cubic metre LCO₂ tank and completed further stages of its hydrogen prototype during the September quarter. The technical progress came alongside a funding push, with $777,000 in cash at quarter-end and an oversubscribed $914,500 share purchase plan completed after the period.

NeuRizer has begun decommissioning plant at Leigh Creek for transport to Reliance Industries’ Indian underground coal gasification projects, while its cash position remains tight and its ASX suspension continues. The company ended September with $1.305 million in cash and estimated 1.4 quarters of funding on current outflows.

Gold Hydrogen says its Ramsay project has demonstrated helium flow across three wells, with concentrations averaging 15.2% and modelled potential of up to 37 Mscf per well per day. The technical progress comes with a sharper financial constraint: cash fell to A$3.96 million, equal to only 0.57 quarters of reported funding, while a capital raising remains in prospect.

Lakes Blue Energy has secured approvals for the next Wombat-5 testing phase, with work expected to begin in mid-November. The milestone comes as the company reports $4.16 million in cash but only 1.68 quarters of funding at the September quarter’s spending rate.

Prominence Energy has expanded its South Australian exploration story from a single project to a portfolio with more than 4 Tscf of gross unrisked 2U hydrogen prospective resources. The company is targeting a multi-well drilling campaign in mid-2027, but its A$1.38 million cash balance leaves funding and permitting as important hurdles.

Eastern Gas has completed its Venus-2H horizontal appraisal well with 445 metres of interpreted coal contact, but the result now faces a more immediate test: whether the company can fund flow testing with only A$654,000 in cash. Gas deliverability remains unproven, while a proposed A$10 million R&D-backed facility is yet to be finalised.

Earth’s Energy has completed its exit from its geothermal joint venture, but has yet to identify a replacement asset capable of supporting a return to the ASX board. The company ended September with A$1.613 million in cash and its securities still suspended.

H2G says its first PowerSafe stackable sodium-ion battery shipments have sold out, with products now available across Australia’s three eastern states. The company reported a sodium-ion sales pipeline above $4 million, alongside a $10 million-plus supercapacitor pipeline and quarter-end cash of $881,000.