Latest Oil And Gas News

Cue Energy delivered a robust quarter with $4.3 million net cash flow and a $17.1 million cash balance, driven by strong drilling results and production growth across its Australian and Indonesian assets.

Grand Gulf Energy Limited reports steady oil production and strategic progress on its helium projects, including a planned 3D seismic survey and ongoing funding discussions, while implementing cost controls in a softening market.

Jupiter Energy Limited reported steady oil sales revenue of approximately US$1.76 million for Q4 2024, driven entirely by domestic channels, alongside commissioning a key gas utilisation project and launching a $4 million capital raise.

Omega Oil and Gas Limited has successfully completed drilling and testing of its Canyon-1H horizontal well, revealing encouraging reservoir conditions that set the stage for upcoming fracture stimulation and flowback testing.

Carnarvon Energy reports a robust cash balance of A$187 million amid delays in the Dorado project development following Santos' decision to pause FPSO acquisition. The renewal of Bedout Basin exploration permits offers a pathway to future drilling in 2026.

Australian Oil Company Limited has secured an increased consideration in its Red Earth Assets divestment, receiving A$660,000 upfront while deferring A$540,000 to March 2025.

Sagalio Energy reported stable production of 510 tons of oil and sales revenue of nearly US$124,000 for the December 2024 quarter, navigating slight price volatility while expanding output modestly.

Key Petroleum Limited progresses Potential Commercial Area applications for ATPs 920 and 924 in Queensland’s Cooper Eromanga Basin, supported by a recent capital raise despite a constrained cash balance.

FAR Limited reports robust production from Senegal’s Sangomar field and a solid cash position, while anticipating a contingent payment from Woodside Energy that could reach US$55 million.

IPB Petroleum has appointed a new chairman and is intensifying efforts to secure funding for drilling its key Browse Basin assets, while maintaining a strong cash position and exploring new project opportunities.

Santos delivered a robust Q4 2024 with over US$1.4 billion in sales revenue and strong free cash flow, while progressing key LNG projects and expanding its decarbonisation initiatives.

Buru Energy is progressing steadily on its Rafael Project, aiming for commercial agreements in early 2025 and production by late 2027, while implementing significant cost reductions to sharpen its financial position.