Industry News

Australian Oil Co busy in the Surat Basin

11/06/2026 Posted by Rachel

On 15th May, Australia Oil Co announced their recent development and exploration activities in the Surat Basin to the market with production, development and exploration all underway.

Maiden oil lifting of 422 barrels by IOR from the Emu Apple Oil Field at the end of March, with the next lifting scheduled to occur around mid May. Production levels are advised to consistent with expectations of approximately 15 barrels of oil per day and 30% water cut.

Plans to acidize Emu Apple 1 and wash with condensate to improve production rates are underway, whilst the company is also...

Santos announces first oil at Pikka in Alaska

10/06/2026 Posted by Janny

May 18 2026 saw Santos announce first oil from their Pikka project on Alaska's North Slope. One of their tier 1 assets, as per recent investor day briefing, this is a significant milestone for the Australian company. The Pikka project targets the Nanushuk Formation - a Lower Cretaceous (Albian-Cenomanian) shallow marine to non-marine succession that overlies the Torok Formation (Alaska Department of Natural Resources, 2017). The Nanushuk represents a major clinoformal succession that filled the western Colville foreland basin by prograding west to east, along the basin axis (Alaska Department of Natural Resources, 2017).

WA acreage release nominations now open

04/06/2026 Posted by Rachel

May 28th saw WA Mines and Petroleum Minister, David Michael, open nominations for Western Australia’s 2026 acreage release, inviting industry to put forward areas for petroleum and greenhouse gas storage exploration.

For the first time, the program includes regulated substances such as hydrogen and helium, as well as potential greenhouse gas storage locations, expanding the acreage release to include these emerging industries. The changes take effect from 28 May 2026 under the Petroleum Legislation Amendment Act 2024, modernising the State’s regulatory framework and providing new titling pathways.

They also cover activities for the transport and permanent injection of carbon dioxide once a storage site is declared.

Red Sky Busy in the Cooper Basin

12/05/2026 Posted by Sarah.Harris

Red Sky Energy (Red Sky) have announced they have entered into binding agreement with JV partner Santos Ltd to drill 3 wells in the Cooper Basin.

On 1st April, Red Sky advised they had executed a binding Authority for Expenditure (AFE) with joint venture partner Santos Limited for two Yarrow wells within the Innamincka Dome, Cooper Basin, South Australia. This two-well program represents the next phase of development within the producing Yarrow field and follows the successful tie-in and commissioning of Yarrow 1 in November 2025.

Furthermore, on 13th April, they announced they were participating in the high-impact Willowie appraisal gas well also targeting the Innamincka Dome area.

Santos announces Alaska appraisal success and provides major projects update

12/05/2026 Posted by Sarah.Harris

On 8 April 2016, Santos announced the successful completion of the Quokka-1 appraisal well, which has further delineated the high-quality Nanushuk reservoir in the Quokka Unit on Alaska’s North Slope. Santos controls a 51 per cent operating interest in the unit, with Repsol controlling the remaining 49 per cent.

The Quokka-1 well was spudded on 1 January 2026 and drilled to a total depth of 4,787 feet (1,459 metres). The well successfully encountered a high-quality reservoir with approximately 143 feet of net oil pay in the Nanushuk formation, demonstrating an average porosity of 19 per cent.

Commonwealth Government opens offshore exploration nominations for Gippsland and Bass basins

12/05/2026 Posted by Sarah.Harris

The Australian Government is seeking industry nominations for areas that may be included in a future offshore petroleum exploration acreage release across the Gippsland and Bass basins. The nomination round is open until 19 June 2026.

The proposed release forms part of the Federal Government’s Future Gas Strategy and is intended to support future domestic gas supply by encouraging exploration in proven producing basins with existing infrastructure. With production from several mature east coast gas fields continuing to decline, the acreage release is expected to generate strong industry interest.

The Gippsland Basin is one of Australia’s most significant offshore petroleum provinces and was home to Australia's first commercial offshore petroleum discovery at Barracouta-1 in 1965.

Woodside Announce Bandit-1 Discovery

12/05/2026 Posted by Rachel

Woodside Energy announced on April 10th success at their Bandit 1 exploration well.

Woodside announces a non-operated oil discovery at the Bandit prospect in the Gulf of America, approximately 125 miles south of the Louisiana coast. The Bandit-1 exploration well, drilled in Green Canyon Block 680 and operated by Occidental, encountered high-quality oil-bearing Miocene sands, with results now under joint review by the well participants.

Bandit is operated by Occidental with a 45.375% working interest, alongside Chevron U.S.A. Inc. (37.125%)and Woodside Energy (17.5%).

The co-owners are currently evaluating results to determine next steps.

New Exploration areas opening in NSW

11/05/2026 Posted by Rachel

The Minns Labor Government will open new areas for gas exploration in NSW for the first time in more than a decade, taking decisive steps to secure the State’s energy supply for households and businesses.

Two regions in the state's Far West – the Bancannia and Pondie Range Troughs – will be opened for gas exploration. These opportunities for new gas supply will complement the Narrabri Gas Project.

To attract investment and ensure NSW remains competitive with other states, the Government will also update regulations to reduce the gas exploration licence application fee from $50,000 to $1,000.

Not all exploration licences proceed to gas production.

Tamboran Resources Announce Results of Shenandoah South 6H

11/05/2026 Posted by Rachel

The Shenandoah South 6H (SS‐6H) well delivered a record average 20‐day initial production (IP20)flow rate of 10.3 million cubic feet per day (MMcf/d) from an 8,635‐foot (2,632‐metre) horizontalsection within the Mid Velkerri B Shale.

On a normalized basis, SS‐6H achieved a flow rate of 11.9 MMcf/d per 10,000 feet, which comparesfavorably to the average performance of more than 11,000 producing wells in the Marcellus Shaledry gas fairway with over 12 months of production history.

The flow test has now been concluded, with the well delivering a stable rate of8.8 MMcf/d (normalized to 10.

International Geological Congress 2028

11/05/2026 Posted by Rachel

The International Geological Congress (IGC) 2028 marks the 38th outing for this quadrennial event. Since its establishment in 1878, the IGC has served as a unique platform for international collaboration, networking, scientific exchange, and strategic dialogue within the geosciences. Recognised as the premier global forum for advancing Earth sciences, each Congress, convened under the auspices of the IUGS, offers an essential platform for deliberating urgent global geological issues and shaping the future of the geosciences. It is one of the world's largest gatherings of geoscience professionals, with this event expecting an estimated 10,000 delegates from across the global geoscience community.

The...