Latest Oil And Gas News

Xstate Resources has divested its Austrian Anshof project to concentrate on its upcoming Diona drilling campaign in Queensland and a planned ASX re-listing backed by a $2-3 million capital raise.

Pilot Energy has secured a $1.5 million debt note to bolster cash flow ahead of a substantial $4.5 million Petroleum Resource Rent Tax refund linked to the decommissioning of the Cliff Head Oil Field.

Winchester Energy Limited’s shares have been suspended from ASX trading due to a failure to meet director requirements under the Corporations Act, raising questions about its governance and future compliance.

Brookside Energy announces an on-market share buy-back of up to 4.8 million shares, aiming to return capital and support its growth strategy amid evolving market conditions.

Santos Limited has entered a process deed granting XRG Consortium exclusive rights to pursue a potential A$8.89 per share cash takeover offer, setting the stage for a pivotal chapter in the oil and gas sector.

Santos Limited has received a compelling non-binding proposal from the XRG Consortium to acquire the company at a significant premium, prompting the board to engage in due diligence and negotiations. This move could reshape the Australian energy landscape if finalized.

Xstate Resources has disposed of its 20% stake in the Austrian Anshof project, eliminating liabilities and streamlining its portfolio ahead of a planned ASX re-listing and development of its Diona project in Queensland.

Santos Limited's 2024 Annual Report reveals a 5% drop in production and a 9% fall in sales revenue, offset by progress in carbon capture and storage projects and emissions reductions. The company posted a net profit of $1.224 billion, down 14% from 2023.

Bass Oil Limited reported a 2.9% increase in total sales revenue for January 2025, driven by steady daily production and notable gains in both the Cooper Basin and Indonesian operations. The company is advancing gas appraisal efforts that could unlock significant new resources.

Triangle Energy reports a missed payment from Pilot Energy related to the Cliff Head project sale, while Pilot continues funding operational costs amid capital raise talks.

88 Energy Limited has struck a pivotal farmout agreement with Burgundy Xploration LLC, unlocking up to US$39 million in funding for Project Phoenix’s horizontal well program and extended flow testing, setting the stage for a potential production decision in 2026.

Invictus Energy has secured Environmental and Social Impact Assessment approval for pilot gas production at its Cabora Bassa Project, unlocking the path to commercial gas extraction and power generation in Zimbabwe.