Latest Oil And Gas News

Bounty Oil & Gas NL has locked in A$4.5 million from a heavily oversubscribed share placement, with proceeds earmarked for drilling, facility upgrades, and exploration across its Australian assets.

Advanced Innergy Holdings saw an 84% plunge in half-year profit despite a record £116 million order backlog, driven by project timing and IPO-related costs. The company confirmed full-year guidance and is poised for growth with key acquisitions in aquaculture and subsea manufacturing.

Xstate Resources confirms Diona-1 as a gas discovery with strong reservoir pressure but faces challenges removing completion fluids. The company is exploring advanced methods to clear the wellbore and enable sustained production.

Red Sky Energy has closed a fully underwritten rights issue, securing $2.46 million from shareholders and relying on underwriting to cover a $1.69 million shortfall. The new shares will be issued today, supporting the company’s ongoing funding needs.

Service Stream is set to broaden its industrial services reach through the acquisition of Queensland’s RIE Group, a specialist in high-voltage electrical and instrumentation services. The deal enhances Service Stream’s market presence in key energy sectors amid ongoing contract wins.

Infragreen Group Limited (ASX: IFN) forecasts a robust FY26 with underlying EBITDA rising to $22.5m-$25m and underlying NPAT surging over 270%, driven by solid performances in Energybuild and Pure Environmental. The company anticipates continued momentum into FY27, despite some short-term headwinds in Minemet and Merredin Energy.

Beach Energy has agreed to sell its 60% stake in the VIC/L35 Otway Basin permit, including the Artisan gas discovery, for $70 million upfront plus a production royalty expected to total around $140 million. The deal frees up over $500 million in capital, allowing Beach to focus on higher-return projects.

Stonehorse Energy has brought three new development wells online in Alberta, boosting production by 385 barrels of oil equivalent per day with a strong oil weighting. The company signals more drilling ahead, aiming to capitalise on over 80 potential well locations.

Comet Ridge has revised its acquisition deal for Santos’ stake in the Mahalo Gas Project, cutting upfront cash and extending deadlines to navigate new government gas reservation policy uncertainty.

Metgasco has obtained a A$500,000 bridging loan at 10% interest to cover immediate capital needs while advancing a broader debt restructuring plan.

Comet Ridge has voluntarily suspended trading of its shares on the ASX pending an update on its acquisition of Santos’ stake in the Mahalo Gas Project. The suspension aims to prevent uninformed trading while discussions continue, with an announcement expected before markets reopen on 21 May 2026.

Advanced Innergy Holdings secures Foreign Investment Review Board approval for its full acquisition of Matrix Composites & Engineering, clearing a major regulatory hurdle and setting the stage for shareholder votes on the $0.40 per share scheme.