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Strike Energy Limited ( (AU:STX) ) has shared an update.
Strike Energy reported FY2026 half-year sales revenue of $36 million from 3.8 petajoules equivalent of gas and condensate, delivering underlying EBITDA of $14 million and a narrowed post-tax loss of $12.3 million amid continued low production costs. The company progressed its 85 MW South Erregulla peaking power plant to 77% completion on time and budget, advanced drilling plans at Walyering West-1, and optimised output at Walyering while securing substantial liquidity through an $86 million strategic investment from Carnarvon Energy and expanded bank facilities.
Management highlighted that firm capacity revenue is now underpinned by a locked-in 2027/28 Reserve Capacity Price of $360,700 per megawatt and a proposed 36% price uplift for 2028/29, signalling structural upside from the evolving capacity market. Strike is also advancing regulatory and planning work for further seismic and drilling across its Perth Basin portfolio, positioning itself as an integrated energy player aiming to address Western Australia’s looming gas and firming capacity shortfall and to close the gap between its asset value and current share price through project delivery and disciplined capital allocation.
The most recent analyst rating on (AU:STX) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on Strike Energy Limited stock, see the AU:STX Stock Forecast page.
More about Strike Energy Limited
Strike Energy Limited is an Australian oil and gas company focused on developing gas and condensate resources in Western Australia’s Perth Basin. Its portfolio includes producing assets such as Walyering and strategic developments like the South Erregulla 85 MW peaking gas power project, targeting reliable domestic energy supply and participation in the state’s Reserve Capacity Credit framework.
Average Trading Volume: 5,452,354
Technical Sentiment Signal: Sell
Current Market Cap: A$356.3M
For a thorough assessment of STX stock, go to TipRanks’ Stock Analysis page.