Latest Oil Production News

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.

Finder Energy has fast-tracked development of its Kuda Tasi and Jahal oil fields in Timor-Leste, targeting initial production rates of up to 40,000 barrels per day through a strategic alliance with SLB. The company’s tight capital structure and multiple exploration prospects position it for significant catalysts in the second half of 2025.

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.

Santos has marked a significant milestone in its Pikka phase 1 project with the safe arrival of critical processing modules in Alaska, pushing the project close to completion and setting the stage for increased production by 2027.

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.

Australis Oil & Gas reported a dip in Q2 sales volumes and revenue due to operational challenges but maintained positive cash flow and reduced debt. The company is actively seeking a funding partner to unlock the potential of its Tuscaloosa Marine Shale assets.

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.

Bass Oil reported steady oil production and a significant cash reserve increase in the June quarter, while strategically acquiring the Vanessa gas field to pivot towards gas production.

Lion Energy has made steady progress on its Port of Brisbane Green Hydrogen Project while moving closer to securing funding for a key drilling operation in Indonesia’s East Seram PSC.

Genesis Energy reported a robust FY25 Q4, marking strategic milestones including a non-binding agreement to extend Rankine unit operations to 2035 and the start of Huntly BESS construction, while expanding customer flexibility programs.