Latest Otway Basin News

Amplitude Energy lifted gas prices and revenue to new quarterly highs in Q3 FY26 while pushing ahead with the East Coast Supply Project, despite mixed exploration results. The company’s production remains robust with capacity expansions at Orbost and development drilling in Cooper and Otway basins.

Central Petroleum has secured a binding gas sales agreement with the Northern Territory Government, underpinning two new Palm Valley wells that could lift production capacity by around 40%. The deal replaces a prior arrangement and is supported by an expanded loan facility.

Vintage Energy has launched a $2.1 million equity entitlement offer to fund drilling two new gas wells, supported by a South Australian government grant, and to advance oil exploration in the Cooper Basin.

Amplitude Energy has intersected the primary gas reservoir at its Isabella prospect, revealing encouraging preliminary data that points to high deliverability and low CO2 levels. The company is now set to commence flow testing to better understand the resource potential.

Amplitude Energy has delivered a standout half-year performance with record gas production and a 246% jump in profit, while advancing key projects and strengthening its balance sheet.

3D Energi Limited has offered 41.7 million free attaching options to investors from its October 2025 Placement, aiming to clear trading restrictions despite ongoing ASX suspension and financial challenges.

3D Energi has announced two significant gas discoveries in the Otway Basin, validating its exploration models and advancing regulatory approvals. The company is now considering a follow-up well that could unlock further value in the region.

Beach Energy’s FY26 half-year results reveal steady sales volumes and a robust ramp-up at the Waitsia Gas Plant, supported by strong LNG cargo revenues and disciplined cost management.

Beach Energy reported a resilient first half of FY26, overcoming Cooper Basin floods to deliver solid earnings boosted by LNG cargoes and higher gas prices. The company’s operational safety and environmental efforts underpin a confident outlook as key projects ramp up.

Beach Energy reported a 32% drop in half-year net profit to $150.2 million, impacted by flooding and lower oil prices, while advancing its Waitsia Stage 2 gas project. The company declared a fully franked interim dividend of 1.0 cent per share.

3D Energi has reported significant gas discoveries at Essington-1 and Charlemont-1 wells in the Otway Basin, reinforcing its strategy to supply local gas to Australia's east coast. However, the company faces funding challenges that have led to a temporary trading suspension.

Lakes Blue Energy has completed drilling and begun production testing at its Wombat-5 well, while progressing plans for proof-of-concept drilling at the Portland Energy Project targeting up to 1 trillion cubic feet of gas.