3D Energi Advances Offshore Drilling Amid East Coast Gas Crisis

An announcement from 3D Oil Limited ( (AU:TDO) ) is now available.

3D Energi Limited has reported on its activities for the second quarter ending December 2024, highlighting significant progress in its offshore exploration initiatives. The company is advancing its Otway Exploration Drilling Program, with plans to drill two wells in 2025 as part of a joint venture with ConocoPhillips Australia. This drilling program is seen as a pivotal opportunity for the company amidst the East Coast gas supply crisis, potentially transforming its market position if successful. The company has also reprioritized its resources by surrendering its VIC/P74 permit to focus on high-value projects.

More about 3D Oil Limited

3D Energi Limited is a company operating in the energy sector, focusing on exploration and development activities in offshore basins. The company’s primary market focus includes the Otway and Gippsland Basins, where it is involved in planning and executing drilling programs.

YTD Price Performance: -3.26%

Average Trading Volume: 268,974

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: A$29.68M

See more data about TDO stock on TipRanks’ Stock Analysis page.