Latest Energy Sector News

Veris Limited has landed over $2 million in new contracts across rail, energy, and digital infrastructure, reinforcing its strategy to expand proprietary digital platforms and data-led services.

Volt Group reported an 8% revenue decline in FY25 amid strategic shifts but is poised for growth with the 4D Delta acquisition driving a 150% revenue surge in Q1 FY26.

Advanced Innergy Holdings saw an 84% plunge in half-year profit despite a record £116 million order backlog, driven by project timing and IPO-related costs. The company confirmed full-year guidance and is poised for growth with key acquisitions in aquaculture and subsea manufacturing.

Xstate Resources confirms Diona-1 as a gas discovery with strong reservoir pressure but faces challenges removing completion fluids. The company is exploring advanced methods to clear the wellbore and enable sustained production.

Prophecy International has appointed Jonathan Drake as CEO effective July 2026, aiming to strengthen leadership after a period of interim management and strategic recalibration.

Metal Powder Works has extended its contract with Westinghouse Electric Company to further develop its patented metal powders for advanced nuclear applications, marking a strategic milestone despite limited immediate financial impact.

Red Sky Energy has closed a fully underwritten rights issue, securing $2.46 million from shareholders and relying on underwriting to cover a $1.69 million shortfall. The new shares will be issued today, supporting the company’s ongoing funding needs.

Service Stream is set to broaden its industrial services reach through the acquisition of Queensland’s RIE Group, a specialist in high-voltage electrical and instrumentation services. The deal enhances Service Stream’s market presence in key energy sectors amid ongoing contract wins.

Ionic Rare Earths (ASX: IXR) has secured binding agreements to supply critical rare earth oxides to US-based Advanced Magnet Lab, supporting domestic production of permanent magnets for defence applications under a US Defense Logistics Agency contract.

Monadelphous has landed $120 million worth of new contracts spanning resources and renewable energy, including a key battery storage project for Fortescue and expanded services for Rio Tinto.

Right Resources has identified a significant high-grade tungsten system at its Blue Prospect in NSW, with rock chip assays reaching 4.3% WO3 and a large soil anomaly still open in all directions.

Stonehorse Energy has brought three new development wells online in Alberta, boosting production by 385 barrels of oil equivalent per day with a strong oil weighting. The company signals more drilling ahead, aiming to capitalise on over 80 potential well locations.