Latest Oil And Gas Exploration And Production News

Karoon Energy reported a 4% production increase in H1 2025 but saw underlying net profit after tax plunge 61%, driven by lower sales volumes and pricing. The company upgraded Baúna Project reserves by 35% and extended field life by seven years, while preparing for a CEO transition.

Cue Energy Resources will pay a final dividend of 0.5 cents per share, with Echelon Resources set to receive approximately AUD 1.75 million from its near 50% stake. This payout underscores steady cash flow prospects for Echelon amid ongoing exploration efforts.

Cue Energy Resources reported a 10.4% increase in revenue to $54.8 million for FY2025, driven by stable production and higher gas prices, but net profit after tax halved to $6.32 million due to rising costs. The company declared a final dividend of 0.5 cents per share.

Otto Energy’s 2025 reserves statement reveals a 10% decline in proved reserves, balanced by strong cash reserves and steady production across key US Gulf Coast assets.

Winchester Energy reported steady oil production and revenue for the June quarter while resolving key legal disputes and undergoing significant board changes. The company also withdrew from costly Peruvian exploration plans, focusing on US operations and cost control.

ADX Energy reported a 23% rise in production to 303 BOEPD for Q2 2025, offsetting a 10% drop in Brent oil prices, while advancing key drilling plans and awaiting new permit awards.

Bounty Oil and Gas reported $1.09 million in oil revenue for FY 2025, boosted reserves to 313,000 barrels, and plans to double production with Surat Basin operations starting late 2025. Meanwhile, a Federal Court challenge looms over its Sydney Basin offshore permit.

Australian Oil Company Limited reported stable gas production from key wells and completed a $1 million loan forgiveness settlement, while refocusing its portfolio away from less promising leases.

Stonehorse Energy Limited reported steady Q2 2025 results, driven by strong Canadian production despite lower commodity prices and operational setbacks in the US. The company also announced a strategic board appointment as it pursues growth opportunities.

Hartshead Resources NL reports steady progress on its P2607 gas development in the UK Southern North Sea, supported by a strong cash position and ongoing joint venture negotiations with RockRose Energy.

Metgasco reports a 4% dip in quarterly sales revenue and a 9% drop in production, while launching a Production Uplift Program funded by a $750,000 capital raise. Operational improvements at Odin and Vali fields helped slow the decline.

Omega Oil and Gas reports strong appraisal progress at its Canyon Project, highlighting premium light crude oil and multiple stacked pay zones, supported by a robust $15.1 million pro forma cash position.