88 Energy Limited
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ROIC.AI
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- Business
- 88 Energy Limited engages in oil and gas exploration and production, primarily focused on high-impact opportunities in Alaska and Namibia. The company’s main products and services include exploration and development of oil and gas properties, with core projects such as Project Phoenix and Project Peregrine in Alaska, which feature significant contingent resources and appraisal activities; Project Phoenix includes multiple stacked reservoirs with estimated gross recoverable hydrocarbon liquids of around 115 million barrels and gas volumes of 68 billion cubic feet, verified by independent auditors. The company also operates in Namibia's Owambo Basin, targeting frontier exploration through a petroleum exploration license with promising structural leads. Additionally, 88 Energy holds producing assets in the Permian Basin through Project Longhorn, which contains certified 2P reserves of 2.1 million barrels of oil equivalent. Recent major changes include a 2024 farm-out agreement with Burgundy Xploration for Project Phoenix, securing full funding for a horizontal test well and extended flow test scheduled for 2026; the company also advanced its takeover and merger of XCD Energy, acquiring significant acreage and resources in Alaska, enhancing its North Slope oil play. In addition, 88 Energy signed a substantial farm-out deal worth approximately AU$60 million to fund budgeted work including drilling and testing activities. The company is expanding its exploration footprint with new ventures in Namibia, marked by initial prospective resource estimates declared in 2024 and early 2025. Moreover, 88 Energy’s subsidiary, Captivate Energy Alaska, successfully acquired new North Slope acreage in late 2025, boosting the company's operational presence in this prolific region. Founded in 2004 and headquartered in Perth, Australia, 88 Energy operates primarily in the upstream oil and gas sector targeting exploration and production in North America (Alaska, USA), the Permian Basin (Texas, USA), and Namibia, Africa. The company focuses on light oil and natural gas liquids exploration, producing assets acquisition, and resource appraisal to capitalize on emerging oil plays and basin-opening discoveries. Its strategic partnerships and joint ventures with firms like Burgundy Xploration exemplify its collaborative approach to de-risking projects and securing capital for development phases. 88 Energy’s business model combines exploration upside with near-term production exposure aimed at building a diversified oil and gas portfolio. 88 Energy Limited’s recent operational trajectory emphasizes high-potential exploration and appraisal drilling, strategic asset acquisitions including the takeover of XCD Energy, and farm-out agreements that shift funding burdens to partners while retaining meaningful working interests. The company continues to drive forward with updated seismic programs, resource assessments, and commercial development plans targeting material increases in recoverable hydrocarbons. Its focus remains on building a substantial, sustainable resource base with growth prospects in Alaska’s prolific North Slope oil province and emerging African basins, positioning it as a dynamic player in the upstream oil and gas exploration sector.
Company News
88 Energy retains Cavendish 'buy' as farm-out bids arrive
88 Energy says its received mulitple farm-out offers at South Prudhoe
88 Energy retains Cavendish buy rating as Namibia exploration moves to next phase
88 Energy moves Namibia exploration venture to next phase
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Cavendish sees 18-fold upside at 88 Energy on Alaska prospect scale
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Cavendish sees 18-fold upside at 88 Energy on Alaska prospect scale
88 Energy quarterly report highlights Alaska progress ahead of next drill project
88 Energy quarterly report highlights Alaska progress ahead of next drill project
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88 Energy says Augusta-1 exploration well is on track for Q1 2027
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88 Energy's South Prudhoe project is a "significant multi-reservoir, infrastructure-led opportunity” says broker
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88 Energy's South Prudhoe project is a "significant multi-reservoir, infrastructure-led opportunity” says broker