Latest Energy Sector Developments News

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 reported steady January production with a notable regulatory green light for its Vanessa gas field acquisition and a $3.5 million grant to accelerate the Kiwi gas field development.

88 Energy has released a significant update to its South Prudhoe prospective resource estimates, revealing over 500 million barrels of oil and NGLs gross across multiple reservoirs on Alaska’s North Slope. The company is advancing well planning and farm-out talks targeting a 2027 drilling campaign.

Invictus Energy has reached a pivotal milestone by finalising the Petroleum Production Sharing Agreement for its Cabora Bassa Project, setting the stage for exploration and appraisal drilling in Zimbabwe in 2026. Meanwhile, the company has ended its strategic partnership with Al Mansour Holdings and is actively pursuing new funding avenues.

Saunders International has landed a $16.4 million contract to refurbish a fuel storage tank at Ampol’s Lytton Refinery, reinforcing its role in Australia’s energy infrastructure upgrades.

Red Sky Energy has completed drilling the Killanoola-2 well in South Australia, confirming hydrocarbons but facing low permeability challenges. The well is now suspended, with plans for future completion and stimulation to unlock production potential.

Red Sky Energy has officially begun drilling at its Killanoola-2 well in South Australia, marking a significant step in advancing its oil project with promising resource potential and commercial partnerships.

Finder Energy’s reprocessing of 2025 seismic data reveals substantial increases in reservoir volumes at its Krill and Squilla fields, setting the stage for updated resource estimates and potential new development hubs.

Red Sky Energy has completed the installation of the surface conductor at its Killanoola Oil Field, marking a significant step forward as it awaits final drilling program approval. The project’s substantial oil reserves and ongoing offtake discussions position it for potential near-term production growth.

Red Sky Energy has mobilised drilling equipment to the KN2 well site at Killanoola, with regulatory approvals advancing smoothly and drilling expected to begin soon.

Triangle Energy and its joint venture partners have been awarded two offshore service contracts in the underexplored Sandakan Basin, Philippines, holding significant contingent gas and condensate resources. These contracts mark a strategic expansion into a promising region with multi-TCF exploration upside.

Xstate Resources has completed well pad construction for its Diona-1 well in Queensland’s Surat-Bowen Basin and is poised to begin drilling with a 51% interest in ATP 2077.