Latest Us Gulf Coast News

Galilee Energy has begun site preparation for its Zydeco-1 well in Louisiana, on track for a July 2026 spud targeting up to 8 billion cubic feet of gas and 0.5 million barrels of condensate.

Galilee Energy has secured a fixed-price drilling rig contract for its Zydeco-1 well in Louisiana, confirming a July 2026 spud date and reducing cost and scheduling risks ahead of a key Gulf Coast gas-condensate project.

Galilee Energy has transformed its Zydeco Gas Project in Louisiana into a drill-ready asset, aiming for a Q2 2026 spud and first production within six months of success.

Galilee Energy has confirmed the final location for its Zydeco-1 well in Louisiana, targeting significant gas and condensate resources with drilling set for the second quarter of 2026. The well also aims to explore additional oil potential, optimising costs and environmental impact.

Galilee Energy has secured the Zydeco Gas Project in Louisiana and raised $6.5 million to fast-track development, marking a pivotal shift towards becoming a mid-tier US gas producer.

Karoon Energy delivered 2025 production near the upper guidance range, marked by a leadership change and significant operational improvements. The company outlines cautious yet optimistic 2026 growth and cost guidance amid ongoing maintenance and exploration activities.

Otto Energy reported an 11% rise in oil production and a solid US$2 million net operating cash inflow in Q3 2025, alongside key executive and board changes.

Karoon Energy reported a 12% production dip in Q3 2025 due to operational challenges but saw a 3% revenue increase driven by higher oil prices and secured a new deepwater block in Brazil.

Otto Energy’s 2025 reserves statement reveals a 10% decline in proved reserves, balanced by strong cash reserves and steady production across key US Gulf Coast 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.

Karoon Energy reported a 25% jump in net revenue interest production for Q2 2025, driven by operational recovery and the Baúna FPSO acquisition. The company also advanced its Neon development with a significant resource upgrade.

Otto Energy reported steady revenue of US$5.2 million in Q1 2025 despite a 9% production decline, offset by higher commodity prices and a significant insurance claim. The company also strengthened its cash position and reduced operating costs.