Latest Mereenie Field News

Central Petroleum has signed a binding Letter of Intent with Northern Territory's Power and Water Corporation to fast-track drilling of four wells and establish long-term gas supply agreements through 2034.

Echelon Resources reported a solid quarter with production gains at Maari and Mahato fields, supported by new wells and a strategic gas sales agreement, while maintaining shareholder returns through dividends.

Central Petroleum reported a slight dip in sales volumes and revenue for the September quarter, offset by a significant reserves upgrade and a new long-term gas supply agreement that promises cash flow stability.

Central Petroleum Limited has reported a robust 43% increase in underlying EBITDAX for FY2025, alongside its inaugural on-market share buy-back, signaling confidence in its strengthened financial footing and growth prospects.

Echelon Resources reports a robust 34% revenue increase and 26% production growth for FY2025, driven by expanded stakes and drilling success at the Mereenie field. The company balances strong cash flow with strategic reinvestment and a modest dividend.

Cue Energy Resources reported a 10% revenue increase to $54.8 million in FY2025, declaring a final dividend and advancing key development projects that underpin future growth.

Echelon Resources finalised its EP145 acquisition and reported a slight dip in production volumes, while Amadeus Basin receipts surged 24% thanks to new wells. The company maintains a strong cash position and is actively reshaping its portfolio for future growth.

Horizon Oil reports a 9% decline in net Proved and Probable reserves to 9.0 million barrels of oil equivalent, offset partially by a life extension at Maari. A significant acquisition in Thailand is set to materially increase reserves in the near term.

Cue Energy Resources delivered a robust quarter with production rising to 1,700 boe/d and a $7 million dividend payout, while advancing development projects in Australia and Indonesia.

Central Petroleum has successfully commissioned two new wells at Mereenie, exceeding production expectations and driving a 22% rise in quarterly revenue despite the lapse of a key gas supply agreement.

Central Petroleum Limited reported a solid quarter ending December 31, 2024, driven by increased gas production from new wells and a restructured loan facility that enhances financial flexibility.

Echelon Resources delivered a robust Q4 2024, driven by standout drilling results at Mereenie and a 23% rise in Amadeus production receipts, underpinning a strong financial position.