Latest Oil And Gas Exploration And Production News

88 Energy Limited updates on its Alaska-based Project Phoenix, announcing a fully funded horizontal well and extended flow test scheduled for Q3 2026, backed by joint venture partner Burgundy Xploration LLC. The project is positioned for first production as early as 2027 amid a resurgence in North Slope activity.

Horizon Oil Limited reported robust FY25 results, highlighted by a strategic acquisition of Thailand upstream assets and a 10-year permit extension at Maari, nearly doubling production and securing a strong outlook through 2030.

Finder Energy is accelerating development of its Kuda Tasi and Jahal fields in Timor-Leste, aiming for first oil by the end of 2027, backed by strong share price momentum and a clear pathway to production.

Australian Oil Company Limited reports stronger gas production in California’s Sacramento Basin and an $800,000 capital raise to advance new ventures and operational upgrades.

AXP Energy has drilled its inaugural vertical well in Oklahoma following a significant lease acquisition and raised A$2.7 million to fund exploration, while production in Colorado declined due to operational challenges.

Hartshead Resources has secured a Well Carry Agreement with RockRose Energy, reducing its equity stake while RockRose funds critical Phase C well costs. The company also seeks a two-year licence extension amid regulatory delays, maintaining a strong cash position and clear development plans.

Helios Energy has restarted production at its Texas Presidio wells and identified new drilling targets, setting the stage for a dual-track development strategy that balances early cashflow with longer-term growth.

Winchester Energy reported a slight dip in production but secured a strategic 30% farm-out deal for its Varn waterflood project, alongside significant board restructuring.

Metgasco’s latest quarterly report reveals a 24% drop in sales revenue amid ongoing Production Uplift Program activities, while reserves remain stable and strategic farm-out talks advance.

Blue Energy has been granted a critical petroleum lease in Queensland and completed a $5.8 million capital raise, positioning itself to meet rising gas demand aligned with the Queensland Government’s new Energy Roadmap.

Echelon Resources reported a solid quarter with production gains at Maari and Mahato fields, supported by new wells and a strategic gas sales agreement, while maintaining shareholder returns through dividends.

Comet Ridge has made significant progress in its Mahalo Gas Hub development, advancing engineering design and securing independent certification of substantial gas reserves. The company is moving closer to a Final Investment Decision amid ongoing regulatory and commercial negotiations.