Factbox: Energy firms step up Australian exploration

Beetaloo Energy Australia

28/06/2026 23:00

    PERTH, June 29 (Reuters) - Australia, the world's No. 2
liquefied natural gas producer, is experiencing an uptick in
spending on energy exploration, driven by domestic gas demand, a
more favourable investment climate and improving technology.
    Below is a roundup of where drilling is focused, with
contingent resource estimates from Geoscience Australia as of
October 2025, unless otherwise stated.
    
    BEETALOO SUB-BASIN
    The Beetaloo Sub-basin is in the Northern Territory, around
500 km (310 miles) south of Darwin. 
    Data from the Northern Territory government estimates a
contingent resource of over 7 trillion cubic feet (Tcf) of gas.
    Santos  STO.AX  will drill three appraisal wells in the
sub-basin this year and next, with approval from the territory
government for up to 12. 
    Beetaloo Energy  BTL.AX  is finishing work on its gas plant
in the area so it can begin sending small amounts of gas to the
domestic market in Darwin, as will peer Tamboran Resources
 TBN.N  in September. 
    
    BEDOUT SUB-BASIN
    The Bedout Sub-basin is in the Roebuck Basin offshore
Western Australia.
    The wider North Carnarvon/Roebuck Basins are estimated to
hold 37.7 Tcf of gas and 296 million barrels of oil.
    Santos  STO.AX  and its partners Carnarvon Energy  CVN.AX 
and Taiwan’s CPC plan to drill up to three new wells at their
long-delayed Dorado project in the Bedout Sub-basin in 2027.
    
    BONAPARTE BASIN
    The Bonaparte Basin lies across the north of Australia with
its better known areas offshore but with incursion into the
onshore Northern Territory and Western Australia. 
    The wider offshore Bonaparte/Browse area is estimated to
hold 44.48 Tcf of gas and 60 million barrels of oil.
    Woodside Energy  WDS.AX  holds vast fields in the basin.
    U.S. firm EOG  EOG.N  had been scheduled to drill oil
prospect Beehive-1 offshore this year but recently applied for
an extension to its work permit and may delay work until 2027,
according to an application filed with the petroleum titles
administrator. 
    
    OTWAY BASIN
    The Otway is on- and offshore western Victoria and stretches
into South Australia offshore Tasmania. Its most well-known and
well-drilled areas are offshore, where gas has been sent to
processing plants for decades. 
    The Otway and adjoining Bass Basin are estimated to hold 780
billion cubic feet of gas and 7 million barrels of oil.
    The Australian government offered its first offshore acreage
round in several years in late 2025 with five parcels for
bidding in the Otway. 
    ConocoPhillips  COP.N  drilled two wells with junior partner
3D Energi  TDO.AX  in late 2025 and early this year with one
success. It has permission from the environmental regulator for
several follow-up wells. 
    Amplitude  AEL.AX  has one more well to drill this year
after an earlier exploration campaign with privately-owned OG
Energy. 
    ADZ, a private company, plans one well in the onshore area.
    
    GIPPSLAND BASIN
    The Gippsland Basin, one of Australia's longest-producing
basins, lies mostly in the Bass Strait off the southeastern
state of Victoria.
    It is estimated to hold a remaining contingent resource of
around 2.96 Tcf of gas and 73 million barrels of oil. 
    Woodside Energy  WDS.AX  announced in 2025 a $200 million
exploration spend for the Gippsland Basin, where output is
declining, to keep its nearby onshore domestic gas plant
supplied. 
    It agreed last year to take over operatorship of the
Gippsland Basin Joint Venture (GBJV) from its partner, Exxon
Mobil  XOM.N . Exxon failed to find more gas in an A$120 million
 ($83 million) campaign in 2018.
     
    ONSHORE WESTERN AUSTRALIA
    The onshore Perth Basin lies about 400 km north of Western
Australia's capital, Perth.
    It is estimated to hold 930 Bcf of gas and 37 million
barrels of oil. 
    Hancock Energy, part of Hancock Prospecting owned by
Australia’s richest person, Gina Rinehart, plans to drill five
wells this year in the onshore Perth Basin and further north at
a cost of A$200 million.
    Mineral Resources  MIN.AX  will drill four wells onshore
Western Australia, in the Perth Basin and farther north in the
onshore Carnarvon Basin, through the second half of 2026 and
first half of 2027. 
    
    TAROOM TROUGH
    The Taroom Trough is in the southwest of Queensland not far
from existing coal seam gas projects.
    Exploration in the area, where unconventional drill targets
are a deep 3,000 to 4,000 metres (9,842 to 13,123 ft) below
ground, is at too early a stage for an overarching contingent
resource estimate. 
    Elixir Energy's  ERX.AX  verified contingent resource
estimate for its Grandis project is 3 Tcf of gas. 
    Omega Oil and Gas  OMA.AX  and Elixir both plan follow-up
drilling this and next year. 
    The state has awarded multiple new permits since late 2025
to prospective explorers including private U.S. company
Tri-Star. 
($1 = 1.4499 Australian dollars)

 (Reporting by Helen Clark; Editing by Sonali Paul)
 ((helen.clark@thomsonreuters.com;))