Latest Gas Field Development News

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.

Australian Oil Company Limited (ASX: AOK) has completed a second crude oil lifting from its Emu Apple Oil Field and identified fresh exploration anomalies in the Surat Basin, while progressing development plans and commercial negotiations for its Riverslea and Major Gas Fields.

Bass Oil’s April sales revenue jumped 245% driven by Cooper Basin stock sales and high oil prices, with production rising 4%. The imminent Bunian 6 well spud promises to double Indonesian output by June, while the Vanessa gas acquisition edges closer to regulatory approval.

Condor Energy secures A$2.25 million in a placement to advance licence conversion, gas commercialisation, and exploration drilling readiness in its offshore Peru portfolio.

Bass Oil’s March quarter saw a 13% production dip due to Cooper Basin rains but secured key gas field acquisitions, a $3.5 million grant, and completed a $3 million capital raise.

Bass Oil’s March production faced Cooper Basin setbacks from heavy rains and storage limits, but trucking resumed in April with strong prices. Indonesian output remained steady with a sharp 47% price rise. The company is progressing its Vanessa gas field acquisition and Kiwi development with government backing.

Red Sky Energy has secured full underwriting for its 2-for-3 non-renounceable rights issue to raise approximately AU$4.2 million, supported by sub-underwriting commitments from related parties. Concurrently, the company has initiated a cost reduction program including a 25% pay cut for senior management and staff reductions.

Red Sky Energy has secured its stake in the next phase of the Yarrow gas field development with Santos, backed by a $1 million placement and a planned Rights Issue to fund its share of the $2 million expenditure.

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.

Conrad Asia Energy has triggered a US$5 million milestone payment from PT Nations Natuna Barat, marking a key step towards production at the Mako gas field targeted for late 2027. The company also resolved a cash call dispute with Empyrean, strengthening its financial footing.

Kinetiko Energy reports robust gas production from test wells and secures a binding joint development agreement with FFS Refiners to advance a pilot LNG plant in South Africa, backed by a $3.15 million capital raise and new North American market listing.