News Articles for Origin Energy

Six energy retailers outside of Synergy have been found to have accepted overpayments into closed customer accounts, following an Economic Regulation Authority crackdown.

An authoritative body has issued warnings to four telecommunication companies, including Optus and Tattarang-backed Swoop, over a failure to comply with rules.

SRG Global has booked $125 million worth of contracts with existing clients across Australia.

Empire Energy will pay down its US debt to Macquarie and put a bit over A$3m in the tin to chase gas in the Northern Territory's Beetaloo basin after offloading its US oil and gas assets for about A$14 million. The company is poised to take on the Australian east coast gas supply dilemma with its Beetaloo ground modelled to generate a project net present value for phase two of $2.5 billion and $14.5 billion for phase three.

The list of renewable hydrogen projects eligible for a share of $2 billion worth of Commonwealth funding has been whittled down to six, with two Western Australian projects making the cut.

Beach Energy reported a 12 per cent revenue drop last quarter, citing a “disappointing” drop in east coast uptake for its product and singling out Otway Basin customer Origin Energy.

Buru Energy has started the hunt for an ally to help develop its Rafael conventional gas and condensate resource in Western Australia's Canning Basin after appointing Miro Capital as a key advisor for its strategic partner selection process. With the Canning Basin's first significant gas discovery, Buru believes the scope of its project will hep create a long line of suitors for Miro to assess.

Buru Energy is actively pursuing a joint venture partner to help it bring its Canning Basin gas interests into production, less than a year after buying out Origin Energy's share of its projects.

Buru Energy has acquired some 200 square kilometres of high-resolution 3D seismic data within and around its 100 per cent-owned prodigious Rafael gas-condensate project in Western Australia's Kimberley region. Once the data, which also includes several 2D lines in an adjoining permit, is processed and interpreted by year's end, it will provide enhanced clarity on the subsurface structure and will drive appraisal drilling for next year.

Buru Energy is pressing the pedal to the metal on its Rafael gas discovery in the Kimberley following a tick of approval on introducing a floating liquified natural gas (FLNG) facility into the processing chain. But Buru believes the value of its prefeasibility study extends wider than just a nod to the FLNG, claiming an innovative partnership could bring Rafael to reality.

Origin Energy has agreed to assign its interests in joint venture exploration permits in WA's Canning Basin, including the massive Rafael gas and condensate discovery to Buru Energy for no upfront payment. Origin will also pay Buru up to $4 million to fund a 3D seismic survey for its gas and condensate discovery Rafael 1.

ASX-listed Empire Energy has kicked another goal in the Beetaloo sub-basin after casing and cementing the horizontal section of its Carpentaria-3H gas well in the Northern Territory in just 2 days. The play sets the asset up for a December reservoir fracking program where the company will look to harvest some of the zone's 500 trillion cubic feet of gas.

Buru Energy is looking to end the year on a high following a flurry of activity across its WA-based oil and gas portfolio over the past few months including a successful November crude oil lift of 73,000 barrels which added $3.8 million to its bottom line. The deal marks the company's third and final delivery for the year for a total exported volume of roughly 220,000 barrels.

Origin Energy shares have soared by a third after its board said it would recommend a $9-per-share takeover offer from Brookfield Asset Management.

ASX-listed producer Buru Energy has chalked up a quarter to remember, tabling its highest revenues in recent memory after banking $5.7 million from its onshore operations in WA's Canning and Carnarvon basins. The company's strong cash and debt-free financial position was bolstered through the sale of about 76,000 barrels of oil and fits within its strategy of optimising fluid production whilst unlocking its gas resources.

Buru Energy CEO Thomas Nador says Origin Energy's decision to quit upstream exploration provides clarity for Buru on its joint venture with the company – the Rafael gas discovery in WA. “We can now concentrate on getting on with it, to work closely with a possible new partner to develop and commercialise this quality project and to deliver the value we know is there,” he said.

Origin Energy is expected to divest its 50 per cent stake in an oil and gas exploration venture with Buru Energy as the gas and electricity major turns its focus to “cleaner” projects.

Amid "an almost unparalleled year" for energy markets, Origin Energy has posted a loss of $1.429 billion, reflecting a $2.196 billion impairment charge.

Helped by rising oil prices, Buru Energy has tabled its record price for an oil shipment yet, bringing in about $5.7 million from its 50 per cent share in 76,000 barrels of crude from its joint venture Ungani oilfield near Broome in WA. The shipment by a tanker through Wyndham port raked in $1 million above the company's previous high in February.

Peter Dutton remains open to having a cooperative relationship with Mark McGowan despite the premier having just last month called his intelligence into question.

Energy companies could soon be forced to give more notice before they close under a proposal from the federal government.

Missing from the discussion of a more rapid shift to renewable energy is the small matter of who pays.

The state government has some big decisions to make on the future of coal.

Australian superannuation funds are being urged by the treasurer to divest Russian assets and join the government in putting a squeeze on Vladimir Putin.

Fortescue and Wesfarmers were among the Western Australian ASX 100 companies which provided the most comprehensive statements to the modern slavery register.

Origin Energy has reported an annual loss of $2.3 billion after a massive write-down.

Monadelphous has secured $200 million in construction and maintenance contracts including with mining majors BHP and Rio Tinto.

ASX-listed Buru Energy has increased oil production by 20 per cent at its Ungani oil field in the Canning Basin east of Broome in Western Australia after successfully installing an electric submersible pump in the Ungani-5 oil production well. Average oil production rates were previously around 800 barrels per day but have now stabilised at above 1,000 barrels of oil per day.

ASX-listed Buru Energy is set to kick off a multi-well drilling campaign across its JV ground in Western Australia's oil-rich Canning Basin around mid-June this year after tying up a suitable drill rig with the grunt to drill both the deep exploration target at its Rafael oil prospect and go horizontally in a new Ungani oil field production well.

Buru Energy and its new farm-in partner, the giant Origin Energy, are gearing up to roll out a fresh oil exploration drilling campaign in WA's revered Canning Basin during this year's Top End dry season. Buru is chasing as much as 97 million barrels of oil across two prospects, including the highly anticipated Rafael-1 test well that sits east and along strike from the company's producing Ungani oil field.

Decisions on two big gas projects are due, $12 billion of chemical projects are under consideration, and a decommissioning timebomb awaits.

Buru Energy has beefed up its board ahead of its big 2021 energy exploration push with its newly minted partner, Origin Energy, as it seeks to flex its muscles further in WA's hydrocarbon-rich Canning Basin. Respected, long-serving non-executive director Eve Howell will retire and three new non-executives will join the board as Buru gears up for 2021.

The economic alarm has again been sounded over climate inaction, with an environmental group warning the cost of extreme weather has more than doubled over the last 50 years.

Origin Energy has given Buru Energy a significant shot in the arm by farming into seven of Buru's oil and gas permits in the onshore Canning Basin in Western Australia. The farm-in significantly strengthens Buru's planned 2021 exploration program, including drilling of the highly prospective Rafael 1 oil well. Origin will spend $35 million inclusive of a two-well drilling program and seismic work.

Valmec has won a major asset services contract, while Centurion has secured mine site works in Queensland and Decmil has been named preferred contractor for a Victorian rail project.

Electricity and gas retailer Origin Energy's fourth-quarter revenue from its share in the Australia Pacific LNG (APLNG) project has fallen 5.2 per cent.

Origin Energy will book impairments of $1.2 billion after tax, joining other energy majors that have cut the value of their assets after a coronavirus-induced drop in oil and gas prices.

A historic overnight collapse in oil markets has not significantly shaken bigger ASX-listed energy producers today, but it does foreshadow continuing uncertainty for one of Western Australia's largest export industries.

The Australian share market has opened two per cent higher as coronavirus-fuelled volatility continues.

The Australian share market has shaken off a weak lead from Wall Street to rise early as government prepares to announce further economic support measures for businesses amid the COVID-19 pandemic.