Latest Oil And Gas Exploration And Production News

APA has lifted its 2026 free cash flow outlook by US$600 million to approximately US$2.9 billion, while setting a lower US$2 billion net debt target. Strong Permian production and debt reduction give the oil and gas producer more room for buybacks, dividends and its next investment cycle.

ADX Energy has launched a discounted 2-for-5 renounceable rights issue targeting up to A$5.2 million, with proceeds aimed at Vienna Basin production work and new Austrian gas activity. The raise is only partially underwritten, while the prospectus warns that failure to complete it would create significant going-concern uncertainty.

Central Petroleum’s first new Palm Valley well is producing around 0.5 TJ/d, well below pre-completion expectations of 3-4 TJ/d, with water loading a possible cause. Cash fell to $14.9 million as drilling costs rose, leaving the company reliant on a planned clean-out and the next well, PV15, to restore momentum.

Brookside Energy completed its Suttles drilling and stimulation program and began early sales from the Sabres and Whalers wells, but quarterly production and realised prices declined. The company also added producing assets through a US$1.114 million acquisition while funding-heavy development pushed cash down sharply.

Buru Energy has booked 15.25 million boe of 2P reserves for its Rafael gas and condensate project, while advancing environmental and production approvals. The company has $2.5 million in cash, no debt and only 1.24 quarters of estimated funding at its reported expenditure rate, making the next financing a critical step.

Lion Energy has completed the sale of its Seram Non-Bula interest and is preparing to spud the 12 million barrel Bula Karang-1 prospect in November. The stronger cash position comes with a near-term financing question: its fully drawn A$1.6 million convertible note matures at the end of December.

Echelon Resources’ newly tied-in Palm Valley 14 well has seen its gas rate fall to around 0.5 TJ/d, well below the 3-4 TJ/d potential indicated by pre-completion testing. The joint venture is assessing whether water loading is limiting output while Palm Valley 15 continues drilling.

Bounty Oil & Gas is pursuing a 2,322 km² deepwater block offshore Liberia, but the asset remains unlicensed and requires parliamentary approval before a production sharing contract can be executed. The proposed acquisition brings major exploration potential alongside substantial dilution, contingent payments and a fresh $3.5 million capital raise.

ADX Energy lifted average net production 23% to 242 barrels of oil equivalent per day in the September quarter, although cash revenue was broadly flat at A$3.13 million. The company is now preparing for deeper HOCH-1 gas testing, GOLD-1 drilling and further Vienna Basin workovers.

FAR’s remaining value is tied largely to Woodside’s Sangomar production and oil prices, with up to US$19.8 million still potentially payable after a US$23.7 million provisional receipt. The oil and gas company ended September with US$1.73 million in unaudited cash and no exploration expenditure.

Beach Energy delivered its strongest quarterly revenue result on record, with sales rising 41% to A$565 million as production increased 9% to 5.4 MMboe. Waitsia reliability improved, offshore abandonment work was completed and FY27 guidance remained unchanged.

Bounty Oil & Gas reported a larger FY2026 loss and weaker production, while reshaping its portfolio around Queensland oil development and a proposed deepwater Liberia entry. The strategy is backed by fresh equity, but depends on further funding, regulatory progress and a production sharing contract that has not yet been finalised.