Latest Offshore Exploration News

BPH Energy and Bounty Oil & Gas have concluded their Federal Court hearing challenging the refusal to extend the PEP 11 permit, with the court's decision now pending.

Condor Energy has unveiled a significant upgrade to its offshore Peru portfolio with the addition of the Raya West prospect, pushing the Greater Raya area’s prospective oil resources beyond 900 million barrels. This milestone enhances Condor’s position as a major player in the Tumbes Basin exploration landscape.

Pilot Energy has made significant strides in Q4 2025 with the launch of a modular data centre joint venture, progress on a hybrid solar and battery project, and advancement of offshore gas exploration partnerships, supported by substantial new financing.

Bounty Oil & Gas has announced a significant board renewal, including the appointment of Kane Marshall as Chairman and the retirement of long-serving CEO Philip Kelso. These leadership changes mark a new chapter as the company pursues growth in its Australian oil and gas assets.

3D Energi has confirmed a new gas discovery at the Charlemont-1 well in Victoria’s Otway Basin, reinforcing the prospectivity of the Charlemont Trend and the potential for increased domestic gas supply.

3D Energi has confirmed a natural gas discovery at the Essington-1 well in the offshore Otway Basin, supported by direct gas sampling and preliminary analysis. Further testing is planned to assess the commercial potential of the find.

3D Energi Limited has successfully intersected two gas-bearing reservoirs at its Essington-1 exploration well offshore Victoria, with wireline logs confirming moveable hydrocarbons consistent with pre-drill expectations. Upcoming formation testing will determine the commercial potential of these discoveries.

Pilot Energy has made significant strides in its offshore Perth Basin exploration with environmental approval for a major seismic survey and secured substantial financing to support its ongoing projects and transition to clean energy.

MEC Resources has advanced its investment in Advent Energy and issued shares to directors, while its PEP 11 Joint Venture faces ongoing legal scrutiny ahead of a Federal Court hearing.

Grand Gulf Energy progresses its Petroleum Exploration Licence application offshore Namibia and advances seismic survey planning for its Red Helium project, while exploring strategic partnerships to enhance growth.

Pilot Energy has secured crucial environmental approval to conduct a 3D seismic survey offshore Perth Basin, propelling its exploration and farmout ambitions forward while supporting carbon storage initiatives.

Melbana Energy has significantly upgraded its prospective resource estimates for the AC/P70 offshore permit, boosting gas and oil volumes and advancing the Hadrosaurus lead to prospect status, while progressing a farmout process to fund exploration.