News Articles for Triangle Energy Global

ASX-listed Triangle Energy has banked a trifecta in the Philippines, bagging two offshore and one onshore petroleum exploration licences, which the company says have handed it a commanding position in some of the region's most prospective, underexplored terrain. With contingent resources in the hundreds of billions of cubic feet and gas-hungry markets on tap, Triangle is now sitting on what could be Southeast Asia's next major gas story.

Pilot Energy has received a $3.887 million Petroleum Resource Rent Tax refund after oil production ceased at its joint venture Cliff Head oil field. The refund, paid via operator Triangle Energy Operations, was attributed to funds spent on abandoning, decommissioning and rehabilitating the Western Australian offshore production site. Pilot is cashed up after also raising $6.8 million in a recent share and convertible note issue.

Triangle Energy and its joint venture partner Athena Exploration have substantially boosted gas resources at their UK North Sea permit, marking a significant milestone for the two companies. The marked increase in both contingent and prospective resources positions the partners among the top three holders of undeveloped gas resources in the UK west of the Shetland Islands and in the southern North Sea.

Pilot Energy has kicked off a formal courtship process to secure farm-out partners at its expansive offshore gas permit in Western Australia's North Perth Basin. The impressive 8605-square-kilometre licence, Australia's largest offshore exploration permit, encompasses both proven oil and gas play fairways along WA's Mid West coast.

Pilot Energy has locked in the purchase of the WA-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset for carbon capture and storage. Pilot has acquired Triangle's remaining 78.75 per cent interest in the oil field to assume full ownership of its onshore assets as well as all its offshore assets within WA jurisdiction.

The company was exploring the L7 and EP437 permits with Triangle Energy and Echelon Resources.

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A Perth Basin gas exploration joint venture which counts John Poynton-chaired Strike Energy among its partners has abandoned its latest exploration well.

Triangle Energy has started drilling its hotly anticipated Becos-1 oil exploration well in Western Australia's Perth Basin. The rods for the conventional well started spinning two days ago to target a fault-trapped rock layer called the Bookara Sandstone from the Triassic period. The company estimates there could be 1-21MMbbl in the pay zone, with a best guess of 5MMbbl.

Triangle Energy's share price jumped 11% on strong volumes after confirming its highly anticipated Becos-1 exploration well in WA's Perth Basin is set to spud in April, targeting up to 21 MMbbl of oil. Silver City Rig 24 is en route and expected on site next week to tackle Triangle's 50 per cent owned EP 437 permit that it jointly holds with Strike Energy and Echelon which have 25% each.

Triangle Energy's well pad for its upcoming Becos-1 exploration well in WA's Perth Basin is in the final stages of construction. The pad's completion is set for the end of December, ahead of a March spud of the highly anticipated onshore Becos-1 wildcat well, which is targeting a resource of between 1 million and 21m barrels of oil.

Triangle Energy Global has locked in Silver City Drilling's Rig 24 for a March spud of its Becos-1 wildcat well in West Australia's Perth Basin targeting up to 21 million barrels of oil. The well will reach its main targets, at a depth of between 700- 800m with a chance to hit an additional reservoir on its way to an eventual depth of 1140m.

Triangle Energy has cashed its first payment for the sale of its share in the Cliff Head oil joint venture in Western Australia. The $2.4 million payment from JV partner Pilot Energy represents the first of multiple payments totalling up to $18 million for Triangle who will pivot into serious exploration as it prepares to drill further wells in the Perth Basin.

Triangle Energy has secured the crucial environmental plan approval to drill its Becos-1 well in WA's Perth Basin and expects to launch the campaign before year's end in its quest for onshore oil and gas. Rig tenders are now underway to test the shallow target where a best estimate of 5 MMbbl has been identified, with the potential to reach as much as 21 MMbbl.

Strike Energy shares slipped to their lowest point since 2021 this morning, after its L7 joint venture partners revealed they would abandon a Perth Basin exploration well.

Triangle Energy Global's hunt for onshore oil and gas in Western Australia has grown white-hot, with the spudding of its Booth-1 exploration well at the Booth prospect marking the launch of a highly-anticipated drilling campaign in the underexplored North Perth Basin. The drilling is targeting a hefty 279 billion cubic feet resource as part of Triangle's joint venture agreement with Strike Energy and Echelon Resources.

Triangle Energy says its recent $4m capital raise was well supported by financial institutions and sophisticated investors as the company prepares to break out the drill rig for the first time in years in the Perth basin. Triangle is pivoting out of its near depleted Cliff Head offshore oil well and back into exploration with two interesting looking Perth Basin oil and gas plays.

Triangle Energy's payoff for the sale to Pilot Energy of its Cliff Head oil asset off the coast of Western Australia now stacks up to $16 million after adjustments made to offset delays in the deal settlement. The new agreement features an extra $1 million for Triangle, which now plans to focus on its prospective conventional oil and gas activities in the Perth Basin.

Triangle Energy's hunt for onshore oil and gas at its Booth prospect in Western Australia's North Perth Basin has stepped up a gear, with spudding of its Booth-1 well anticipated at the end of this month and drilling expected to begin in about 10 days. The company is targeting a vast 279 billion cubic feet resource at Booth.

The Federal Government has paved the way for Triangle Energy Global to complete the $15 million sale of its Cliff Head oil assets off the WA coastline after approving the site for permanent offshore carbon storage. The approval confirmed today by Resources Minister Madeleine King will allow Pilot Energy to acquire the project, while Triangle will set a stronger focus on its Perth Basin targets.

Triangle Energy expects to have the drill rods turning late next month at its Booth-1 well in the North Perth Basin after the company today confirmed the rig will soon be released to the joint venture project. Management says Booth hosts a prospective resource range of between 113 and 540 billion cubic feet of gas (Bcf), with a best estimate of 279Bcf.

Triangle Energy Group has capped off a solid quarter, raking in $6.54 million courtesy of oil sales associated with its Cliff Head JV partnership with Pilot Energy. The proceeds are earmarked for high-impact exploration drilling near Geraldton in Western Australia's Mid West region, with the company set to kick off its hunt for hydrocarbons at the Booth-1 well by July.

Triangle Energy will be hunting a 279Bcf resource in ground south-east of Geraldton in WA's Mid West when it launches drilling for oil and gas at its Booth prospect in the onshore Perth Basin in late June. The Booth-1 well is expected to cost less than $1.5 million and will be followed by the Becos-1 well as the search for hydrocarbons intensifies in the region.

Triangle Energy Global has raised $5 million in order to advance its Perth Basin projects.

The United Kingdom Government has shown its confidence in Triangle Energy Global, offering it a North Sea license containing five prospects with at least 269 billion cubic feet of gas, along with multiple shallow leads. The acreage bolsters Triangle's global portfolio as the company matures plans to drill two wells in the onshore Perth Basin this year.

Perth-based petroleum producer and explorer Triangle Energy finished the past quarter with $5.24 million in the bank as it homes in on the onshore North Perth Basin, where it will drill for oil this year. The company is currently producing crude from its Cliff Head field off Dongara, with that operation netting it $15 million as part of a sales deal with Pilot Energy.

Non-executive director of BMG Resources John Prineas will replace Greg Hancock as the non-executive chairman of the company as it kicks off a search for a new MD to develop its 500,000-ounce gold find near Wiluna. The move follows the resignation of Managing Director Bruce McCracken and will see Mr Hancock remain on the board as an independent non-exec director.

New seismic data has revealed that Triangle Energy may be sitting on a gushing 36 million barrels of oil and 535 billion cubic feet of gas as best-estimate prospective (P50) resources in the North Perth Basin. The company plans to drill-test two of its 12 new prospects that hold part of the volume, with wells kicking-off in the first half of this year.

Perth-based Triangle Energy and joint venture partner Athena Exploration have been offered five Cragganmore gas field blocks estimated to contain some 527 billion cubic feet of gas in the North Sea's West of Shetlands province. The blocks are next to 16 others in two gas fields offered to petroleum giant Shell and have produced gas from two prior wells drilled in 2012.

Triangle Energy has casing and wellheads lined up for two of three high-value wells it will drill at its onshore Perth Basin areas in the first half of next year. The company has received regulator approval to farm out a 50 per cent interest in its permits, which will see some $20 million enter the company's coffers to offset drilling and seismic processing costs.

Triangle Energy will ramp up its oil and gas chase after receiving $15 million from Pilot Energy for the sale of its share in the Cliff Head oilfield and carbon reinjection joint venture in waters off the Dongara coastline in Western Australia's Mid West. The consideration will be paid in three stages and is expected to be completed early next year.

Triangle Energy has reeled in $11.4 million in the March quarter – a staggering 73 per cent increase from the previous quarter – courtesy of oil sales associated with its Cliff Head JV partnership with Pilot Energy. The record sales round off a busy quarter highlighted by two oil shipments and finalising the acquisition of two oil and gas permits in WA's Perth Basin with Key Petroleum.

Oil producer Triangle Energy Global has wrapped up the acquisition of two highly-prospective oil and gas permits in WA's Perth Basin, handing over 31.3 million shares to Key Petroleum to seal the deal. The company previously held a major stake in both assets and mopped up the balance in exchange for $600,000 in cash and $500,000 in shares to be issued by June 30.

Seismic data from the Perth Basin has unveiled four high-graded oil and gas targets within two permits for a joint venture led by WA-based producer Triangle Energy. Drilling is now scheduled for the first half of next year, while work is also ongoing to further define the identified targets, in addition to adding others to the list.

WA-based oil producer Triangle Energy has banked $10 million through a binding farmout agreement with New Zealand Oil & Gas for 25 per cent of its L7 production licence and EP 437 exploration permit. Following the separate sale to Talon Energy in December last year of another 25 per cent slice of its permits, Triangle retains a 50 per cent stake of its original tenure.

WA-based oil producer Triangle Energy has signed a binding farm-out agreement with Talon Energy for two onshore gas permits in the Perth Basin after all conditions of the deal were met. The transaction includes the first of two payments towards a 50 per cent share in the 3D seismic dataset known as “Bookara” which stretches across the two permits that were delivered in January. However, final interpretation, mapping and prospect evaluation of the data is ongoing.

WA-based producer Triangle Energy has squared away a cool $4.5 million after receiving payment for its second oil shipment to a refinery in Thailand over the December period. The shipment is part of the company's Cliff Head joint venture with Pilot Energy which sees the duo complete production at the Cliff Head oil field about 270km north of Perth before mobilising it to buyers in Asia.

ASX-listed oil producer Triangle Energy has closed the book on a solid December quarter, tabling a host of milestones including its second oil delivery to a refinery in Thailand via an all-new shipping route, farming out two gas prospective permits to Talon Energy and raking in $6.6 million courtesy of oil sales associated with its Cliff Head joint venture partnership with Pilot Energy.

Triangle Energy Global has reeled in $9.96 million after farming out 25 per cent of its L7 production licence and EP 437 exploration permit in WA to New Zealand Oil & Gas. The deal follows a similar agreement with Talon Energy last year and allows Triangle, who still retains a 50 per cent stake in the assets, to advance exploration in the zones via the newly formed joint venture.

JV partners Triangle Energy Global and Pilot Energy have firmed up the efficiency of a new shipping route through the Port of Geraldton in WA after completing a second delivery of 52,900 barrels of oil to a refinery in Thailand. The vessel carrying the freight has since returned from its voyage and has been loaded with a fresh batch of 25,000 barrels of liquids ahead of a new 2023 delivery.