88 Energy Limited
Other OTCCapital Structure
•
in mil. unless spec.Working Capital
•
in mil. unless spec.Growth Rates
•
in mil. unless spec.Quarterly Revenue
•
in mil. unless spec.Quarterly Earnings Per Share
•
in mil. unless spec.Quarterly Dividends Per Share
•
in mil. unless spec.- CEO
- Ashley Phillip Gilbert A
- Full Time Employees
- 10
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 516 Hay Street Subiaco WA Australia 6008
- IPO Date
- Nov 18, 2020
- Website
- 88energy.com
- Similar Companies
- Business
- 88 Energy Limited is an Australia-based oil and gas exploration and production company with a primary focus on North American assets, particularly onshore Alaska and Texas. The company’s main products and services include exploration and appraisal drilling; oil and gas production; seismic data acquisition and interpretation; and development of hydrocarbon resources. Core projects include Project Phoenix and Project Peregrine on the Alaskan North Slope, the Umiat oil field in the National Petroleum Reserve-Alaska (NPRA), and Project Longhorn, a conventional oil and gas production asset in the Permian Basin, Texas, in which 88 Energy holds a majority non-operated working interest. The company also maintains exploration interests in Namibia’s Owambo Basin. Its operations span upstream oil and gas exploration and production, focusing on crude oil and natural gas assets. Founded in 2015 and headquartered in Perth, Australia, 88 Energy has aggressively expanded its North Slope acreage to over 440,000 net acres by securing multiple leases, including approximately 34,560 acres through recent acquisitions. Key projects include the successful flow testing of the Hickory-1 well in Alaska, affirming commercial hydrocarbon presence in multiple reservoirs and advancing Project Phoenix towards commercialization. The company has also increased its footprint at the Leonis Project through the acquisition of new leases, amplifying its exploration potential. In Texas, 88 Energy acquired a ~73% average net working interest in established conventional oil and gas leases within the Permian Basin, delivering immediate cash flow and low-cost development opportunities, although it has since elected not to participate in a new multi-well program at Project Longhorn, indicating a strategic focus on core Alaskan assets. Recent major developments in the past 1-2 years highlight 88 Energy's progression towards commercial production and resource expansion. These include the acquisition and development of the Longhorn assets in Texas (in 2022), extending Project Phoenix with successful reservoir flow testing and updated contingent resource estimates totaling 239 million barrels of oil equivalent net to 88 Energy, and the strategic expansion of Alaskan leases near Prudhoe Bay in late 2025. The company plans further appraisal wells and extended flow tests to de-risk its resource base and unlock value. These operational advancements align with the company's mission to build a successful exploration and production business delivering shareholder returns and regional development benefits. 88 Energy operates primarily in the upstream oil and gas industry, targeting exploration and production segments in North America, with supplementary frontier exploration in Namibia. Customers and stakeholders include energy markets dependent on crude oil and natural gas supplies. The company maintains subsidiaries, including Longhorn Energy Investments LLC for its Texas operations, and engages in joint ventures and partnerships with regional operators. Its strategic shift has emphasized maximizing value from its Alaska and Texas assets while continuously assessing operational priorities and capital deployment. In summary, 88 Energy Limited is a focused upstream oil and gas company specializing in exploration, appraisal, and production activities concentrated mainly on the Alaskan North Slope and the Permian Basin in Texas, with additional exploration in Namibia. It manufactures and produces crude oil and natural gas, supported by seismic data acquisition and well drilling capabilities, and its recent strategic acquisitions and successful exploratory milestones position it for potential commercial growth in the near term. It was founded in 2015 and is headquartered in Perth, Australia. Recent strategic asset acquisitions and technical successes are driving its evolution into a production and development company with a diversified portfolio focused on North American energy resources.
Nasdaq, Dow rebound but geopolitical picture still murky with Nvidia ahead
Alphabet showcases new AI models and agent tools at Google I/O 2026
88 Energy says Augusta-1 exploration well is on track for Q1 2027
Weakening UK jobs market puts Bank of England rate hikes in doubt
The road to Wall Street is clear for Altman and Musk after Oakland verdict
88 Energy's South Prudhoe project is a "significant multi-reservoir, infrastructure-led opportunity” says broker
YETI sees stronger year ahead after blowout quarter defies cautious sentiment
88 Energy's South Prudhoe project is a "significant multi-reservoir, infrastructure-led opportunity” says broker
88 Energy upgrades estimates for South Prudhoe project
88 Energy upgrades estimates for South Prudhoe project
Dell gets downgraded by UBS as analysts see little room for upside following recent stock run
Bullish broker tips 88 Energy for substantial upside
monday.com Q1 beat driven by enterprise customer growth and AI adoption
Dotlines Global begins AIM trading after reverse takeover valued at £55.7m
88 Energy amends Namibia venture agreement as it focusses on Alaska
88 Energy amends Namibia venture agreement as it focusses on Alaska
JD Sports going through the difficult transition from growth to focus on cash, say analysts
S4 Capital drops 13% as client caution hits revenue
88 Energy hires rig for Augusta-1 exploration well
88 Energy tipped for substantial upside as explorer updates Burgundy deal