Latest Oil And Gas News

Omega Oil and Gas Limited has successfully completed drilling and testing of its Canyon-1H horizontal well, revealing encouraging reservoir conditions that set the stage for upcoming fracture stimulation and flowback testing.

Carnarvon Energy reports a robust cash balance of A$187 million amid delays in the Dorado project development following Santos' decision to pause FPSO acquisition. The renewal of Bedout Basin exploration permits offers a pathway to future drilling in 2026.

Fitzroy River Corporation's latest quarterly report reveals a dip in royalty income but highlights progress on major silver and gold projects, alongside strategic moves in energy royalties.

Empire Energy Group Limited reported a significant cash outflow of $14.2 million in the December 2024 quarter, driven by exploration and evaluation activities, yet maintains a strong liquidity position with nearly $54 million in available funding.

Helios Energy has released an independent Contingent Resource Report confirming substantial recoverable oil, gas, and NGL volumes at its Presidio Project in West Texas, reinforcing its potential as a transformative asset.

First Graphene has secured key patents for its Kainos Technology in Australia and Korea, positioning itself at the forefront of producing graphite, graphene, and hydrogen from petroleum waste. This milestone aligns with growing global demand for critical minerals essential to the energy transition.

Sagalio Energy Limited reported a net cash outflow of USD 79,000 in Q4 2024, ending the quarter with only USD 42,000 in cash and limited financing facilities. The company’s funding runway now stands at just over two quarters, raising questions about its near-term financial strategy.

Key Petroleum Limited progresses Potential Commercial Area applications for ATPs 920 and 924 in Queensland’s Cooper Eromanga Basin, supported by a recent capital raise despite a constrained cash balance.

Tamboran Resources has launched a major hydraulic stimulation campaign for its SS-2H ST1 and SS-3H wells in the Beetaloo Basin, deploying advanced Liberty Energy equipment to boost production efficiency and support Northern Territory energy supply.

FAR Limited reports robust production from Senegal’s Sangomar field and a solid cash position, while anticipating a contingent payment from Woodside Energy that could reach US$55 million.

IPB Petroleum has appointed a new chairman and is intensifying efforts to secure funding for drilling its key Browse Basin assets, while maintaining a strong cash position and exploring new project opportunities.

Condor Energy Ltd has raised A$3 million through a well-supported placement to advance its exploration and commercialisation efforts in the Tumbes Basin offshore Peru, focusing on the promising Piedra Redonda gas discovery.