Latest East Coast Gas Market News

Beach Energy has agreed to sell its 60% stake in the VIC/L35 Otway Basin permit, including the Artisan gas discovery, for $70 million upfront plus a production royalty expected to total around $140 million. The deal frees up over $500 million in capital, allowing Beach to focus on higher-return projects.

Comet Ridge has revised its acquisition deal for Santos’ stake in the Mahalo Gas Project, cutting upfront cash and extending deadlines to navigate new government gas reservation policy uncertainty.

Amplitude Energy has received the VIC/L37 production licence for its Annie gas field, setting the stage for first gas in 2028 to supply Australia's east coast market.

Comet Ridge progresses engineering design and environmental approvals for its Mahalo Gas Project, pushing ahead with the acquisition of Santos’ stake to consolidate full ownership and expand its east coast gas footprint.

Elixir Energy has completed its Lorelle-3/3H appraisal well with exceptional gas-condensate pay and the longest lateral drilled in the Taroom Trough. The company enters production testing phase fully funded with $22.3 million liquidity and a $10 million R&D-backed debt facility.

Amplitude Energy has locked in a binding gas sales agreement with AGL Energy for 20 PJ of gas from the East Coast Supply Project, contingent on drilling results and set to start in mid-2028.

Bass Oil is set to ramp up Indonesian production by drilling the Bunian 6 well, targeting a tripling of output to 750 barrels per day by mid-2026 amid elevated oil prices.

Bass Oil reported steady February production with some operational setbacks in the Cooper Basin, while gaining regulatory approval for the Vanessa gas field acquisition and securing government funding for Kiwi gas development.

Bass Oil Limited has raised $3 million through a well-supported share placement to fund key projects including the Vanessa gas field acquisition and Indonesian oil drilling, positioning itself for a 2026 entry into the East Coast Gas Market.

Emperor Energy has successfully raised $17.5 million to advance drilling of its Judith-2 appraisal well, aiming to unlock a major gas resource in Victoria’s Gippsland Basin. The capital raise underscores strong investor confidence as the company moves closer to proving commercial gas flow rates.

Amplitude Energy has intersected the primary gas reservoir at its Isabella prospect, revealing encouraging preliminary data that points to high deliverability and low CO2 levels. The company is now set to commence flow testing to better understand the resource potential.

Tamboran Resources has appointed Todd Abbott as CEO and made significant progress in drilling and infrastructure development in the Beetaloo Basin, aiming for first gas sales in the third quarter of 2026.