Latest Oil Production News

Omega Oil and Gas confirms the commercial viability of its Canyon Sandstone reservoir in Queensland’s Taroom Trough, with SLB modelling indicating nearly 1 million barrels of oil equivalent per well and significant upside potential.

Pilot Energy has received a $3.9 million Petroleum Resource Rent Tax refund linked to decommissioning activities at the Cliff Head Oil Field, reinforcing its shift toward clean energy projects.

Bass Oil reported steady oil production in July alongside progress in acquiring the Vanessa gas field and advancing deep coal commercialisation efforts.

AXP Energy has secured 1,400 acres of oil and gas leases in Kay County, Oklahoma, setting the stage for rapid drilling and expansion of its gas-to-power-bitcoin mining operations. The company aims to leverage proven stacked pay zones and a favorable regulatory environment to scale production and innovative energy uses.

Winchester Energy reported steady oil production and revenue for the June quarter while resolving key legal disputes and undergoing significant board changes. The company also withdrew from costly Peruvian exploration plans, focusing on US operations and cost control.

ADX Energy reported a 23% rise in production to 303 BOEPD for Q2 2025, offsetting a 10% drop in Brent oil prices, while advancing key drilling plans and awaiting new permit awards.

AXP Energy has commenced production from the Greenhorn Formation, marking a first for its Florence leases, while reporting a 15% rise in oil output and a 42% jump in quarterly revenue.

Pilot Energy reports significant progress in transitioning the Cliff Head Oil Field to a carbon storage facility, alongside a major upgrade in WA-481P gas and oil prospective resources and a $6.8 million capital raise.

Pilot Energy has secured a $1.5 million debt note to bolster cash flow ahead of a substantial $4.5 million Petroleum Resource Rent Tax refund linked to the decommissioning of the Cliff Head Oil Field.

Melbana Energy has commenced continuous oil production from its Amistad-2 well in Cuba, building a significant crude inventory while preparing for further drilling. The company maintains a solid cash position as it markets its Australian offshore assets.

Finder Energy has fast-tracked its Kuda Tasi and Jahal (KTJ) oil field development in Timor-Leste through a strategic alliance with SLB, advancing key engineering design by 12 months and targeting a final investment decision in 2026. The company also strengthened its financial position with a $6 million placement, supporting ongoing exploration and development activities across its diverse portfolio.

Otto Energy has completed a $38.4 million capital return while maintaining steady oil production despite a dip in gas output. The company also announced the resignation of its Acting CEO, signaling a period of transition.