Latest Offshore Permitting 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.

Forte Energy has rapidly expanded its oil and gas exploration portfolio in Alaska’s National Petroleum Reserve, acquiring over 156,000 acres including the billion-barrel Harrier Prospect and adjacent leases to Umiat Oil Field, while securing significant cost savings through lease fee suspensions.

ADX Energy has secured a crucial extension on its loan note repayments, unlocking financial flexibility to advance multiple drilling and development projects across Austria and Italy.

BPH Energy Ltd reported a half-year net loss of $925,691, weighed down by investment write-downs and associate losses, while raising $1.2 million to fund exploration and development. The company’s future hinges on a Federal Court review of a critical offshore permit held by investee Advent Energy.

Triangle Energy has secured new offshore and onshore permits in the Philippines while initiating legal action against JV partners in Western Australia, signaling a strategic pivot and operational challenges ahead.

BPH Energy’s December quarter report reveals significant progress in its investee projects amid ongoing legal challenges and strategic capital management. The company balances judicial reviews, regulatory milestones, and funding plans across energy and medical technology sectors.

ADX Energy has reported a significant 31% increase in its prospective gas resources for the Sicily Channel offshore permit, driven by new data from nearby fields and historic wells.

Triangle Energy (Global) Limited has amended its quarterly cash flow report to correct key figures while advancing new permits in the Philippines and progressing the transition of its Cliff Head Oil Field to a carbon capture and storage project.

Triangle Energy (Global) Limited has been awarded a 100% interest in the SC-82 onshore exploration contract in the Philippines’ Cagayan Basin, unlocking a large prospective gas area near existing infrastructure.

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.

Bounty Oil and Gas reported $1.09 million in oil revenue for FY 2025, boosted reserves to 313,000 barrels, and plans to double production with Surat Basin operations starting late 2025. Meanwhile, a Federal Court challenge looms over its Sydney Basin offshore permit.

Triangle Energy’s June quarter report reveals a strategic pivot as key JV partners exit, the Cliff Head assets transition to carbon capture, and promising exploration prospects remain in focus.