Strike Energy lifts reserves and advances South Erregulla power project

Strike Energy Limited ( (AU:STX) ) just unveiled an update.

Strike Energy reported steady operational progress in the March quarter, with its 85 MW South Erregulla peaking gas power project reaching 86% completion and still targeting an October 2026 start-up. The company highlighted a strong safety record across South Erregulla and Walyering, and noted a substantial increase in the benchmark reserve capacity price for 2028/29, which improves the economic outlook for its new firming capacity.

At West Erregulla, Strike upgraded its estimated 2P gas reserves by about 20% to 251 PJ net, underscoring the field’s scale and strategic importance for future development. Walyering generated $13.7 million in gas sales revenue on 1.12 PJe of production, while output was lifted to 15 TJ/day after a heat exchanger installation and supplemented with third-party gas purchases to meet contract obligations.

The most recent analyst rating on (AU:STX) stock is a Hold 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 upstream gas production and power generation in Western Australia. Its key assets include the South Erregulla peaking gas power project, the West Erregulla gas field and the Walyering gas and condensate project, supplying sales gas and condensate into the domestic market.

Average Trading Volume: 9,900,736

Technical Sentiment Signal: Sell

Current Market Cap: A$395.9M

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