Latest Offshore Energy News

BPH Energy and Bounty Oil & Gas await a Federal Court judgement on their challenge against the refusal to extend the PEP-11 offshore permit. The decision, reserved since February, will be handed down mid-June, potentially shaping the companies' exploration prospects.

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.

Bhagwan Marine expects FY26 EBITDA between $44.5m and $46.5m, buoyed by Riverside Marine acquisition despite Middle East conflict causing project delays. The company highlights margin gains, disciplined costs, and rising recurring revenue as it advances integration and growth plans.

Iron Road Ltd faces headwinds in securing partners for its Central Eyre Iron Project amid market and energy volatility, delays drilling at Mulgathing due to flooding, but reports promising heavy mineral sands results and evolving land option dynamics at Cape Hardy.

Bhagwan Marine has completed its $130 million acquisition of Riverside Marine, enhancing its service range and recurring revenue streams through a mix of equity and debt financing.

SRJ Technologies’ subsidiary ACE has landed two advanced inspection contracts worth a combined £235k with a leading global energy supermajor, reinforcing its foothold in offshore asset integrity services.

Pancontinental Energy has won a crucial 12-month extension for its PEL 87 offshore Namibia exploration licence, enabling further seismic analysis and drilling preparations. This extension keeps the project on track as the company seeks a farmin partner to advance exploration.

Bhagwan Marine reports a sharp 67% drop in net profit for the half-year to December 2025, while announcing a transformative $130 million acquisition of Riverside Marine Holdings.

Bhagwan Marine Limited anticipates stable earnings and robust cash generation for the first half of FY26, underpinned by margin expansion and disciplined capital management.

RemSense Technologies has secured a follow-up contract with ExxonMobil to deliver advanced digital twin solutions at the Bass Strait facility, reinforcing its role in the energy sector’s digital transformation.

Finder Energy has acquired the Petrojarl I FPSO from Amplus Energy for US$15 million, aiming to fast-track its KTJ oil development project with a targeted final investment decision by mid-2026 and first oil by the end of 2027. This move is supported by a two-tranche institutional placement raising A$25 million at a 21.3% discount.

Bhagwan Marine has locked in a five-year, $75 million contract for its Coral Knight vessel with Jadestone Energy, reinforcing its foothold in Australia's offshore energy sector.