Latest Oil And Gas Exploration And Production News

Cue Energy Resources trimmed its 2P reserves by 9% to 4.5 million barrels of oil equivalent as of June 2026, driven by production and downward revisions across key assets. The company flagged a $3-$5 million non-cash impairment tied to Maari and Sampang fields amid a strategic exit from the Sampang PSC.

Beach Energy (ASX:BPT) reported a 742% jump in net profit to $281 million for FY26 despite a 9% revenue decline, driven by Waitsia Gas Plant reaching full capacity and stringent cost control. The company declared a fully franked final dividend of 2 cents per share.

Echelon Resources has finalised its divestment of Cue Energy shares, boosting cash and cutting debt, while progressing key drilling and gas supply agreements.

Jade Gas Holdings has secured regulatory approvals for Mongolia’s first coal bed methane reserves, completed a A$12 million capital raise, and signed a non-binding A$1.1 billion collaboration agreement to fund initial development of its Red Lake gasfield.

Equus Energy has completed a critical Pre-FEED study for its Equus Gas Project, confirming two cost-effective development pathways and initiating commercial partnerships. The company also strengthened its board and maintains a solid cash position heading into FEED.

Elixir Energy has advanced its Queensland Taroom Trough gas projects with successful stimulation and flow testing at Lorelle-3H, a new contingent resource booking at ATP2057, and a pipeline feasibility agreement with APA Group.

Finder Energy has secured key regulatory approval for its KTJ Project in Timor-Leste and raised $27 million to advance development, positioning for a Final Investment Decision in Q3 2026.

Galilee Energy has commenced drilling its Zydeco-1 well in Louisiana, executing a cost-optimised plan targeting up to 13.7 billion cubic feet of gas and 610,000 barrels of condensate, marking a key milestone in its US Gulf Coast expansion.

Red Sky Energy has kicked off site works for a Santos-operated drilling campaign at the Innamincka Dome, secured $5.1 million in capital raising, and reported $1.045 million in production receipts for the June quarter.

Cue Energy Resources posted a solid quarter with a 16% production rise and $13.6 million cash receipts, backed by new drilling and a refreshed board after Horizon Oil's takeover.

Horizon Oil achieved record production and sales in FY26, driven by its Thailand assets, and completed the off-market takeover of Cue Energy, expanding its footprint across five countries.

Beetaloo Energy has pushed construction of its Carpentaria Gas Plant forward, maintaining schedule and budget for Q4 2026 commissioning, while its Carpentaria-5H well delivers steady gas flow with low decline rates.