Latest Australian Gas Market News

Empire Energy Group has launched a $28 million equity raise to finance critical development activities in the Beetaloo Basin, targeting first gas sales from its Carpentaria Pilot Project in 2025. The capital raise, combined with a $65 million financing package, underpins the company’s ambition to commercialize one of Australia’s largest low-CO2 shale gas resources.

Korea National Oil Corporation is set to acquire a 29% stake in the Otway Basin joint venture with 3D Energi and ConocoPhillips, strengthening the exploration push for East Coast Australia’s gas supply.

Bass Limited’s May 2025 AGM update highlights a strategic acquisition and capital raising to accelerate its emergence as a key Australian gas producer, focusing on Cooper Basin and Indonesian assets.

Tamboran Resources has finalized a US$15 million sale of 100,000 acres to Daly Waters Energy, retaining a dominant 1.9 million-acre position in the Beetaloo Basin and setting the stage for its Phase 2 gas development targeting Australia's East Coast market.

Emperor Energy's Environmental Plan for the Judith-2 Well has passed NOPSEMA's completeness check and is now open for public comment, marking a key regulatory milestone on the path to drilling in mid-2026.

Elixir Energy has unveiled a strategic, fully funded plan to develop its extensive gas resources in Queensland’s Taroom Trough, aiming for initial production by late 2027. The company leverages its dominant acreage position alongside Shell’s operations and a fast-follower approach to unlock multi-TCF reserves.

Blue Energy has resolved a significant legal hurdle by securing an amended Environmental Authority for its Sapphire asset, enabling progression of the Petroleum Lease 1034 and continued pilot production testing despite operational interruptions.

QPM Energy Limited has announced a significant 31% upgrade to its Moranbah Gas Project's 2P reserves, now certified at 435PJ, reinforcing the asset's status as a tier 1 gas resource with substantial uncontracted volumes.

Elixir Energy has expanded its footprint in Queensland's Taroom Trough through a farmin deal with Santos, boosting its contingent gas resources by 68% and launching a $9 million equity raise to fund upcoming exploration activities.

Vintage Energy has launched a $2.1 million entitlement offer to fund a targeted production uplift program at its Odin and Vali gas fields, aiming to significantly increase gas output and cash flow in the near term.

Pure Hydrogen Corporation Limited is set to unlock value by spinning out its Australian gas assets into Eastern Gas Limited, offering shareholders free shares in the new entity. The move positions Eastern Gas to capitalize on strong East Coast gas market demand with an anticipated $8–10 million IPO.

3D Energi Limited is progressing rapidly towards its 2025 Otway Exploration Drilling Program, with key preparations underway and regulatory approvals advancing, positioning the company to potentially capitalise on East Coast Australia's critical gas supply shortage.