- Business
- Armour Energy Limited (ASX:AJQ) engages in oil and gas exploration, development and production in Australia. The company focuses on hydrocarbon resources including natural gas, LPG, gas condensate and oil across multiple basins such as the Surat Basin in Queensland; McArthur Basin in the Northern Territory; Otway and Gippsland Basins in Victoria; and Cooper and Southern Basins in South Australia. It operates through two segments, Exploration, Evaluation and Appraisal Activities; and Production and Development of Petroleum Products, producing and selling petroleum products including oil, gas, LPG and condensate primarily from the Kincora Gas Project and Murrungama CSG Project. Founded in 2009 and headquartered in Brisbane, the company targets east coast gas markets with access to existing infrastructure and emphasizes sustainable operations across Queensland, Northern Territory, Victoria and South Australia. In recent developments, Armour Energy entered administration in November 2023, followed by the sale of key subsidiaries including Armour Energy (Surat Basin) Pty Ltd and Armour Energy (Victoria) Pty Ltd to ADZ Energy Pty Ltd in January 2024 under a deed of company arrangement for $35.6 million consideration; the parent company and remaining entities such as McArthur Oil and Gas Limited entered liquidation and receivership in January 2024, with primary operations ceasing and the entity delisted from the ASX on August 29, 2024.