Latest Oil And Gas News

Icon Energy Limited reported a $455K cash balance and issued 100 million shares this quarter to sustain operations amid ongoing uncertainty over the ATP 855 permit renewal.

Rey Resources Limited reported a cautious quarterly cash flow with $276,000 in cash and ongoing strategic moves in its oil and gas exploration portfolio, including the surrender of EP458 and preparations for a key 3D seismic survey on EP487.

Horizon Oil’s latest quarterly report reveals a significant production uplift at the Mereenie field following successful infill drilling, alongside steady cash flow and a strong balance sheet heading into 2025.

Karoon Energy plans to expand its on-market share buyback program by an additional US$75 million, aiming to invest a total of US$125 million in shares by the end of 2025 amid a belief that its stock is undervalued.

Omega Oil and Gas Limited has successfully raised A$7 million in a strongly supported institutional placement, positioning the company to advance its Canyon-1H fracture stimulation and appraisal program.

Xstate Resources reports steady oil and gas production while navigating ASX suspension and preparing for capital raising tied to a new project announcement.

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.