Latest Oil And Gas Exploration News

Macallum New Energy has expanded its exploration prospects in the underexplored southern North Perth Basin with a new oil and gas prospect, Aberfeldy, and plans to pursue helium and hydrogen exploration following recent regulatory changes.

Emperor Energy has submitted a revised Environmental Plan for its Judith-2 appraisal well and is advancing drilling preparations, including securing contractors and negotiating the Valaris-107 rig contract for a late Q1 2027 start.

Carnarvon Energy has locked in the Transocean Equinox rig for a pivotal 2027 drilling campaign targeting major prospects in the Bedout Sub-basin, with costs comfortably covered by its strong cash reserves.

Xstate Resources confirms Diona-1 as a gas discovery with strong reservoir pressure but faces challenges removing completion fluids. The company is exploring advanced methods to clear the wellbore and enable sustained production.

Beetaloo Energy has wrapped up its $5 million Share Purchase Plan with strong shareholder uptake, pending final approval at the upcoming AGM for new share issuance.

Red Sky Energy has closed a fully underwritten rights issue, securing $2.46 million from shareholders and relying on underwriting to cover a $1.69 million shortfall. The new shares will be issued today, supporting the company’s ongoing funding needs.

88 Energy is gearing up to drill its Augusta-1 exploration well in Alaska’s North Slope, targeting a stacked oil resource estimated at 133.7 million barrels gross unrisked. The company has secured key operational assets and is progressing farm-out talks to share drilling risks ahead of the planned Q1 2027 spud.

Xstate Resources has confirmed a significant over-pressured Permian gas and condensate discovery at its Diona-1 well in Queensland, with ongoing flow testing revealing promising transient gas responses constrained by hydrostatic fluid columns.

Condor Energy has submitted its application to convert the offshore Tumbes Basin TEA 86 into a Licence Contract, securing 100% ownership and expanding its prospective resources to over 3.3 billion barrels of oil and 1 Tcf of gas.

Elixir Energy's Diona-1 well in Queensland confirms a recoverable overpressured Permian gas resource, enlarging its Taroom Trough footprint to 548,000 net acres. Flowback testing continues with plans for artificial lift to boost production.

ADX Energy’s HOCH-1 well in Upper Austria has revealed 4-6 metres of net gas pay across seven intervals in the Base Hall formation, moving closer to production testing after reaching 1685 metres depth.

Xstate Resources reports promising early production from its Diona-1 well in Queensland, with gas and condensate flowing during the flow-back phase following stimulation.