Latest Gas Market News

Hartshead Resources NL has entered a binding agreement to be acquired by ACAM for approximately A$40 million, offering shareholders a 133% premium and certainty amid UK gas project risks. The deal advances development of the P2607 gas fields with strong backing from partners and regulators.

Lakes Blue Energy has completed drilling and begun production testing at its Wombat-5 well, while progressing plans for proof-of-concept drilling at the Portland Energy Project targeting up to 1 trillion cubic feet of gas.

Conrad Asia Energy has locked in a transformative farm-in and financing deal for its flagship Mako gas field, setting the stage for first gas in late 2027. The company also resolved historic disputes, strengthening its position in Indonesia’s growing gas market.

Central Petroleum has secured a letter of intent for a long-term gas supply contract through 2034 and expanded its exploration portfolio into the Otway and Cooper Basins, setting the stage for multiple new wells and production growth.

Comet Ridge is set to consolidate 100% ownership of the Mahalo Gas Project, securing key environmental approvals and advancing engineering design and funding efforts to boost east coast gas supply.

Strike Energy reports steady progress on its South Erregulla gas power project, while optimising Walyering production and maintaining strong liquidity. The company navigates market conditions with a strategic reduction in output and plans for upcoming drilling activities.

Bass Oil Limited reported a 7.9% rise in quarterly oil sales revenue and a 7.4% increase in production, alongside a pivotal gas sales agreement with Origin Energy for the Vanessa gas field, pending regulatory approval.

Elixir Energy has secured a $16.6 million capital injection led by Omega Oil and Gas, propelling its high-impact Lorelle-3 appraisal well drilling and expanding contingent gas resources in Queensland’s Taroom Trough.

Equus Energy has launched on the ASX with full ownership of the Equus Gas Project, backed by a $46 million conditional funding and gas sales agreement with Alcoa. The project aims to supply a significant new gas source for Western Australia’s LNG and domestic markets.

Central Petroleum has completed its acquisition of strategic interests in the Otway and Cooper Basins, setting the stage for a multi-well exploration campaign starting in the second half of 2026.

Fitzroy River Corporation reported steady royalty income for the December 2025 quarter, while advancing key projects including a $40 million funding campaign for the Rafael Gas Project and a $150 million equity raise for Snowy River Gold development.

Beach Energy’s Q2 FY26 report reveals a 9% production decline amid Otway Basin slowdowns, offset by flood recovery and the Waitsia Gas Plant ramp-up, with sales revenue down 17% to $445 million.