Newport Exploration reports that Beach Energy's Western Flank production fell 35% due to flooding and natural decline. However, recent drilling achieved a 100% success rate, with oil encountered in the Namur, McKinlay, and Birkhead reservoirs, supporting plans for play expansion.
Newport Exploration Ltd reports a 100% success rate from recent drilling in the Cooper Basin, with new wells encountering oil in the McKinlay and Birkhead reservoirs. While oil production rose 11% due to well restorations, gas and gas liquids production fell 18% following a planned maintenance shutdown at the Middleton Gas Plant.
Newport Exploration reported successful drilling at Stunsail West and Kangaroo 5, demonstrating oil continuity in the Cooper Basin. However, heavy rainfall caused a 16% decline in oil production and delayed drilling activities during the quarter.
Newport Exploration Ltd. issued a clarification regarding its royalty interest in the Cooper Basin, Australia, following Beach Energy's annual report. The update notes a 33% year-on-year production decline due to flooding and natural field decline, while providing updated 1P and 2P reserve figures for oil and gas.
Newport Exploration Ltd reported a 33% year-on-year production decline for the Western Flank assets due to natural decline and flooding. The company also provided updated 1P and 2P reserve estimates for the Western Flank as of June 30, 2025, which are subject to its 2.5% gross overriding royalty.
