Latest Oil And Gas Exploration And Production News

Metgasco Ltd has announced a non-renounceable entitlement offer to raise approximately $0.75 million at a discounted price of 0.2 cents per share, aiming to fund production uplift programs and working capital. The offer is partially underwritten and includes a Top-Up Facility for eligible shareholders.

Bass Oil Limited has announced a $3.1 million rights issue to fund key projects including recommissioning a gas facility in Australia and drilling an oil well in Indonesia, aiming to significantly increase production and cash flow.

Bass Oil Limited has acquired the Vanessa gas field from Beach Energy, marking its entry into gas production in Australia’s Cooper Basin. The company is raising $3.1 million to fund this acquisition alongside other growth initiatives.

Hartshead Resources and joint venture partner RockRose Energy agree to a 28-day pause in procedural timelines for UK Southern Gas Basin Licence P2607, aiming to advance commercial discussions. The company remains committed to a constructive resolution while preserving its legal rights.

Brookside Energy has mobilised completion operations at its Bruins Well in Oklahoma’s Anadarko Basin, targeting first production and sales in the second quarter of 2025.

Australian Oil Company Limited has completed a key pipeline acquisition in California’s Sacramento Basin, significantly boosting gas production from its Rio Vista wells and setting ambitious quarterly flow targets.

Po Valley Energy delivered steady gas output from its Podere Maiar-1 well in Q1 2025 while progressing multi-well drilling applications and a 3D geophysical survey in Italy. The company maintains robust cashflow and a solid financial position as it awaits key regulatory approvals.

Omega Oil and Gas has reported robust oil and gas flows from its Canyon-1H well in Queensland’s Bowen Basin, confirming commercial potential and securing $7 million in fresh capital alongside a strategic board appointment.

Stonehorse Energy’s Q1 2025 report reveals Canadian wells outperforming production forecasts while revenue dips due to softer commodity prices. US operations show recovery, and the company intensifies Canadian business development amid market volatility.

Xstate Resources has acquired a 51% stake in the Diona project, setting the stage for its ASX re-quotation and a planned drilling campaign in the third quarter of 2025. The company is also undertaking a capital raise of at least $1.5 million to support these initiatives.

State Gas Limited advances its Rolleston West Project with successful drilling of two vertical wells confirming coal and gas continuity, aiming to establish a maiden 2P reserve. Concurrently, the company expands its high density natural gas supply, targeting significant revenue growth through a six-truck dual fuel trial.

Otto Energy reported steady revenue of US$5.2 million in Q1 2025 despite a 9% production decline, offset by higher commodity prices and a significant insurance claim. The company also strengthened its cash position and reduced operating costs.