Latest Oil And Gas Sector News

Galilee Energy has appointed a US Advisory Board to drive its Gulf Coast oil and gas expansion, targeting low-risk brownfield assets. The company’s maiden Zydeco-1 well in Louisiana is set to spud in Q2 2026, marking a key milestone in its US growth strategy.

Cue Energy Resources has advised shareholders to hold off on any action following Horizon Oil's dispatch of a Replacement Bidder’s Statement for its unsolicited takeover offer. A formal response and recommendation from Cue’s Independent Board Committee is expected by early April.

The Brazilian government has imposed a 12% tax on crude oil exports effective immediately, a move framed as windfall profit sharing amid high oil prices. Karoon Energy, with significant Brazilian operations, faces new cost pressures as the tax awaits potential ratification by Congress.

AXP Energy has successfully raised A$800,000 through a share placement to fund development of its Oklahoma oil project and explore new growth opportunities.

Horizon Oil has launched an off-market takeover offer for Cue Energy Resources, proposing a mix of cash and shares. Cue’s Independent Board Committee is now carefully evaluating the proposal before advising shareholders.

Horizon Oil has made a strategic move to acquire the remaining shares of Cue Energy Resources with an offer valuing Cue shares at approximately 14.3 cents each, representing a notable premium. This bid aims to create a larger, more diversified oil and gas entity with potential annual synergies of up to A$2 million.

Bass Oil reported steady January production with a notable regulatory green light for its Vanessa gas field acquisition and a $3.5 million grant to accelerate the Kiwi gas field development.

SRJ Technologies has secured multiple new purchase orders for its BoltEx flange clamp technology from major international operators, reinforcing its growing global footprint and industry validation.

Intelligent Monitoring Group Limited has significantly reduced its half-year loss while increasing revenue and adjusted EBITDA, driven by organic growth and key acquisitions in Australia and New Zealand.

Swift TV has secured its first contract to supply hardware and engineering services for a Walk to Work vessel linked to a major offshore Oil and Gas operator, marking a strategic entry into a key sector.

ADX Energy has revealed a significant technical update on its Welchau appraisal permit in Austria, highlighting a connected petroleum system with 18 million barrels of prospective light oil and 125 billion cubic feet of gas condensate resources.

Provaris Energy and Yinson Production have teamed up with Himile Heavy Industries to explore manufacturing large-scale LCO₂ tanks in China, a key step for offshore carbon capture infrastructure.