Latest Energy Sector News

Carnarvon Energy has boosted its Bedout Basin prospective resources by 92%, now holding over 6.2 billion barrels of oil equivalent across 130 prospects, with exploration drilling set to start in April 2027.

Acrow Limited (ASX:ACF) is set to expand its Industrial Access and Construction Services footprint with a $54.5 million acquisition of Ausgroup and Preston SuperDeck, funded by a fully underwritten $70 million equity raise and a $10 million share purchase plan. The company also upgraded its FY27 revenue and EBITDA guidance by 21% and 15% respectively.

Horizon Oil has removed the final hurdle in its Cue Energy takeover, declaring the offer unconditional and speeding up payment to shareholders.

Karoon Energy has pushed back production restoration at the Who Dat E manifold to the second half of 2027, prompting a significant downgrade to its 2026 output forecast. Operational setbacks at Who Dat and weather-impacted Baúna interventions weigh on near-term volumes.

Bass Oil lifted May production by 5% with a 219 barrels per day average, while drilling commenced on the Bunian 6 well, expected to double group output.

Galilee Energy has begun site preparation for its Zydeco-1 well in Louisiana, on track for a July 2026 spud targeting up to 8 billion cubic feet of gas and 0.5 million barrels of condensate.

Horizon Oil has lifted all but one condition from its off-market bid for Cue Energy, maintaining a controlling 52.46% stake while the final hurdle over prescribed occurrences remains unresolved.

MGX Resources is set to exit its Koolan Island iron ore operation, selling to Crestlink for $20.2 million upfront plus potential revenue share, while shifting focus to gold development.

Strike Energy’s South Erregulla Power Station has completed major construction and started commissioning, advancing toward its October 2026 target for commercial operation.

Horizon Oil confirms its takeover offer for Cue Energy shares as best and final, holding a majority stake and with all regulatory approvals cleared. The offer period closes on 19 June 2026, with liquidity risks flagged for minority shareholders who abstain.

Thor Energy’s latest soil air geochemistry survey at its HY-Range Project in South Australia has recorded natural hydrogen concentrations up to 3%, far surpassing previous readings and validating key exploration areas ahead of a major seismic survey.

Monadelphous has landed a $380 million contract to build and install gas turbine units at CS Energy’s Brigalow Peaking Power Plant in Queensland, marking a significant step in the company’s energy infrastructure pipeline.