Yesterday afternoon, Strike Energy Ltd (ASX: STK) wrapped up FY26 with South Erregulla Power Station reaching mechanical completion and quarterly gas sales revenue of $13.1 million at Walyering.
Image source: Getty Images
What did Strike Energy report?
- Quarterly gas and condensate production of 0.99 PJe from Walyering
- Sales revenue of $13.08 million for Q4 FY26, with average realised gas prices holding steady at ~$7.09/GJ
- Cash and cash equivalents rose 25% over the quarter to $46.28 million
- Total liquidity at quarter end stood at $46.58 million
- Development capital expenditure totalled $48.51 million, mainly on South Erregulla and Walyering
- No major health, safety or environmental incidents during the quarter
What else do investors need to know?
During the quarter, the South Erregulla Power Station achieved a major milestone with mechanical completion, and Western Power began network infrastructure commissioning in late July. The project is now 94% complete and progressing toward commercial operations.
At Walyering, the successful drilling and flow test of Walyering West-1 confirmed a new conventional gas accumulation with high flow rates and low CO₂, providing a potential future tie-back opportunity. Assessment of commercial viability and updated reserves is underway.
Corporate news included the appointment of Shelley Robertson as Managing Director and CEO, and Nev Power as Non-Executive Chair. Tim Cooper, Chief Financial Officer, will step down in September with a transition process underway.
What did Strike Energy management say?
Managing Director and CEO Shelley Robertson said:
Strike enters FY27 having made material progress across both its producing and development assets… During FY27, our focus remains on safe and disciplined execution across the portfolio, progressing our key strategic priorities and delivering long-term value for shareholders.
What's next for Strike Energy?
Strike Energy's near-term focus is on completing commissioning and achieving commercial operations at South Erregulla, while maintaining strong HSE performance. Further updates are expected on the selection of a preferred gas processing solution for West Erregulla as commercial discussions progress.
The company remains optimistic about its role in Western Australia's energy transition and is positioning the South Erregulla Power Project to meet growing demand for firm, flexible electricity generation as renewables increase across the grid.
Strike Energy share price snapshot
Over the past 12 months, Strike Energy shares have declined 20%, trailing the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
