Latest Oil And Gas News

Lion Energy has locked in funding and government approval for its Bula Karang-1 well in Indonesia, targeting a September spud, while winding down its hydrogen project to focus on core upstream oil and gas activities.

Anson Resources has applied to acquire 1,175 acres of lithium-rich brine mineral rights in Utah, aiming to boost its Green River Lithium Project and support a JORC resource upgrade in Q3 2026.

Key Petroleum Limited continued its push for Potential Commercial Area approvals for ATP 920 and ATP 924 while completing two share placements that bolstered its working capital. The company remains focused on securing tenure certainty and expanding its asset portfolio amid measured financial management.

Advanced Innergy Holdings (ASX:AIH) has completed its acquisition of Matrix Composites & Engineering (ASX:MCE), significantly expanding its subsea materials manufacturing footprint in the Asia-Pacific region.

ADX Energy has secured A$3.58 million through a discounted placement to fund multi-zone testing at its HOCH-1 gas discovery in Austria, follow-up drilling, and offshore Sicily exploration amid Europe's tight gas market.

Macallum New Energy completed key 3D and 2D seismic surveys in Western Australia’s Perth Basin, setting the stage for prospect maturation and potential drilling in 2027 while maintaining a strong cash position.

Mandrake Resources has secured key agreements to produce lithium brine from its Utah project and plans a significant drilling campaign in Australia, supported by strong cash reserves.

Omega Oil & Gas has kicked off its fully funded 2026/27 drilling program in Queensland’s Taroom Trough, aiming to unlock significant oil and gas volumes with a multi-well campaign focused on the basin’s eastern flank.

Condor Energy has completed its Technical Evaluation Agreement work early, consolidated full ownership of TEA 86 offshore Peru, and submitted for licence conversion, positioning itself for exploration and gas commercialisation.

Galilee Energy’s Zydeco-1 well in Louisiana has intersected the Homeseeker B sand as predicted, revealing strong gas indications that were not factored into prior financial models. Drilling now advances toward the primary Tweedel Sand target, with electric logging due late July to assess commercial viability.

Ava Risk Group expects FY2026 revenue around $29 million, below prior guidance, due to delayed orders mainly in the Middle East and North America. Despite this, sales intake exceeded revenue, underpinning a strong backlog and positive EBITDA.

Australian Ethical reached a new record of $14.5 billion funds under management at June 30, 2026, driven by strong superannuation inflows and strategic investments amid challenging market conditions.