Latest Oil And Gas Exploration News

Red Sky Energy has completed drilling the Killanoola-2 well in South Australia, confirming hydrocarbons but facing low permeability challenges. The well is now suspended, with plans for future completion and stimulation to unlock production potential.

NuEnergy Gas Limited reported a cash outflow for the September quarter, continuing its exploration spend while progressing an early gas sales initiative and preparing for further capital raising.

Xstate Resources has successfully re-listed on the ASX and drilled the Diona-1 well in Queensland, revealing a significant overpressured gas column that could accelerate gas sales by mid-2026.

Key Petroleum Limited is on the cusp of securing critical government approvals for its Queensland projects, bolstered by new major shareholders and strategic board changes that set the stage for accelerated development and diversification.

High Peak Royalties reported steady royalty income of A$168,176 in Q3 2025, while progressing exploration and infrastructure developments across its helium, hydrogen, and gas assets.

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.

AXP Energy has drilled its inaugural vertical well in Oklahoma following a significant lease acquisition and raised A$2.7 million to fund exploration, while production in Colorado declined due to operational challenges.

Hartshead Resources has secured a Well Carry Agreement with RockRose Energy, reducing its equity stake while RockRose funds critical Phase C well costs. The company also seeks a two-year licence extension amid regulatory delays, maintaining a strong cash position and clear development plans.

Omega Oil and Gas has bolstered its balance sheet with a $46 million equity placement and confirmed the strong commercial potential of its Canyon Project, setting the stage for a major appraisal campaign in 2026.

Helios Energy has restarted production at its Texas Presidio wells and identified new drilling targets, setting the stage for a dual-track development strategy that balances early cashflow with longer-term growth.

Galilee Energy reported steady cash reserves and ongoing reservoir pressure monitoring at its Glenaras Gas Project, while exploring new funding and growth opportunities.

Emperor Energy has secured a significant resource upgrade for its Judith Gas Field and raised $3.7 million to progress the Judith-2 appraisal well, targeting commercial gas supply in a tightening East Coast market.