ASX:CVN

3 stories mentioning ASX:CVNUpdated 25d ago

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Carnarvon Energy Ends June Quarter With AU$98 Million Cash, No Debt

Carnarvon Energy (ASX:CVN) ended the June quarter with AU$98 million in cash, no debt and a $90 million development carry for the Dorado project in Western Australia, according to a Tuesday Australian bourse filing.The company said it contracted Transocean Equinox for the 2027 Bedout Sub-basin drilling campaign over the quarter, with drilling expected to commence in April 2027.A 92% increase in the Bedout Joint Venture prospective resources portfolio was achieved following completion of the Bedout 3D Seismic MegaMerge project, the filing added.The company's shares rose 4% on market close.

ASX:CVN

Asia60d ago

Carnarvon Energy Reports 92% Increase in Bedout Basin Prospect Resource Inventory

Carnarvon Energy (ASX:CVN) reported a 92% increase in its prospect resource inventory across the Bedout Sub-Basin permits on Australia's North-West Shelf, according to a Tuesday filing with the Australian bourse.The company said it now estimates gross prospective resources of about 6.26 billion barrels of oil equivalent across 130 prospects, up from 3.26 billion barrels of oil equivalent reported in June 2025."This step‑change reflects significantly improved subsurface imaging from the seamless integration of multiple high‑quality seismic surveys within the Mega‑Merge dataset," the company said.Exploration drilling at the Bedout joint venture is due to start from April 2027, per the filing.

ASX:CVN

Asia82d ago

Carnarvon Energy Secures Transocean Equinox Rig for Western Australia Offshore Drilling Campaign

Carnarvon Energy (ASX:CVN) contracted the Transocean Equinox semi-submersible rig for a multi-well drilling program offshore Western Australia's Bedout sub-basin, with operations scheduled to begin in April 2027, according to a Monday filing with the Australian bourse.The campaign is designed to evaluate the resource potential of key prospects including Ara, Yuma, Goats Eye, and Hutton identified within the Bedout MegaMerge 3D seismic survey, per the filing.The rig was selected through a competitive tender process initiated in early 2025 and is currently operating offshore Victoria before transitioning to the program, the filing said.The campaign comprises one firm and one contingent well, with total estimated costs of around AU$20 million if both are drilled, to be funded from the company's AU$98 million cash balance as of March 31, the filing added.

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