Latest Exploration And Appraisal News

Santos Limited edged up production by 3% in Q2 2026, with Barossa hitting 97% of planned output and Pikka phase 1 moving toward plateau. Sales revenue rose 6% to $1.35 billion, while free cash flow impacts from commissioning are expected to reverse in H2.

Beach Energy delivered a solid FY26 with 19.4 MMboe production, a record 18 months without injuries, and a key Otway Basin asset sale freeing $500 million capital.

Buru Energy pushes forward with its Rafael Gas Project development, securing A$5.3 million in funding and progressing environmental approvals while navigating executive leadership changes.

Condor Energy has completed its Technical Evaluation Agreement work early, consolidated full ownership of TEA 86 offshore Peru, and submitted for licence conversion, positioning itself for exploration and gas commercialisation.

Pancontinental Energy progresses its Namibian PEL 87 exploration with a seismic reprocessing study and farmin discussions, while neighbouring operators report promising discoveries and development plans in the Orange Basin.

Karoon Energy has successfully revived production at the Baúna SPS-92 well, lifting total output to 20,500 bopd and revising its 2026 capital expenditure guidance upward. Concurrently, the company plans a third phase of its on-market share buyback, citing undervaluation and disciplined capital allocation.

Conrad Asia Energy appoints Peter Botten as Executive Chairman and initiates CEO search amid transition to gas producer with first gas targeted for late 2027.

Jade Gas Holdings has achieved a historic milestone with Mongolia’s first-ever approval of coal seam gas reserves, unlocking the path to commercial development of its TTCBM Project in the South Gobi.

Condor Energy has submitted its application to convert the offshore Tumbes Basin TEA 86 into a Licence Contract, securing 100% ownership and expanding its prospective resources to over 3.3 billion barrels of oil and 1 Tcf of gas.

Finder Energy (ASX:FDR) is advancing its KTJ Project in Timor-Leste, aiming for a final investment decision by mid-2026 and first oil production by late 2027. Ownership of the Petrojarl I FPSO and strategic alliances underpin a fast-tracked development with forecast production of up to 30,000 barrels per day.

ADX Energy’s HOCH-1 exploration well in Upper Austria has encountered gas-filled sands consistent with pre-drill 3D seismic predictions, reinforcing the prospect’s resource potential ahead of upcoming wireline logging and production testing.

Top End Energy is progressing farm-out talks in the Beetaloo Basin amid growing industry validation, while its Kansas hydrogen project attracts new partners and it broadens into US AI data centre energy solutions.