Latest Oil And Gas Production News

Santos delivered a steady first quarter with production up 3% year-on-year, driven by Barossa's initial cargoes and Pikka phase 1 nearing first oil. Free cash flow held firm at $383 million, while a key Moomba optimisation project received final investment approval.

Jupiter Energy reported US$1.68 million in unaudited oil sales revenue for Q1 2026, with production steady across its Kazakhstan fields and a recent well workover set to boost output.

Bass Oil’s March production faced Cooper Basin setbacks from heavy rains and storage limits, but trucking resumed in April with strong prices. Indonesian output remained steady with a sharp 47% price rise. The company is progressing its Vanessa gas field acquisition and Kiwi development with government backing.

Fitch Ratings has maintained Karoon Energy’s credit ratings while revising its outlook to Negative, citing operational disruptions and production decline risks despite solid liquidity and manageable debt. Karoon is actively working on restoring production at key assets with updates expected in its upcoming quarterly report.

Amplitude Energy lifted gas prices and revenue to new quarterly highs in Q3 FY26 while pushing ahead with the East Coast Supply Project, despite mixed exploration results. The company’s production remains robust with capacity expansions at Orbost and development drilling in Cooper and Otway basins.

Cue Energy Resources has reinforced its call for shareholders to reject Horizon Oil’s takeover bid, citing a new multi-year gas sales agreement and planned well drilling at Palm Valley that underpin its long-term revenue growth.

Cue Energy Resources has locked in a multi-year gas sales agreement with the Northern Territory Government, underwriting the drilling of two new wells at Palm Valley. This deal replaces a prior tentative supply plan and promises stable cash flow through to 2034.

Central Petroleum has secured a binding gas sales agreement with the Northern Territory Government, underpinning two new Palm Valley wells that could lift production capacity by around 40%. The deal replaces a prior arrangement and is supported by an expanded loan facility.

Horizon Oil’s Letter of Intent with Power and Water Corporation for a new Mereenie gas sales deal has expired without replacement, prompting a suspension of planned infill drilling and a notable cut to capital expenditure forecasts.

Bass Oil reported steady February production with some operational setbacks in the Cooper Basin, while gaining regulatory approval for the Vanessa gas field acquisition and securing government funding for Kiwi gas development.

Australian Oil Company Limited is set to lift its first crude oil from the Emu Apple Oil Field in the Surat Basin on 31 March 2026, marking a key production milestone. Concurrently, the company has identified intriguing iodine anomalies in its exploration permit PL 30, hinting at potential new hydrocarbon targets.

Finder Energy has confirmed the technical feasibility of repurposing the Petrojarl I FPSO vessel for its Kuda Tasi and Jahal oil fields, setting the stage for a final investment decision by mid-2026.