The Strike Energy Ltd (ASX: STK) share price is on watch after the company reported an upgrade to 2P reserves at the Walyering gas field and booked maiden reserves for the Walyering West discovery.
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What did Strike Energy report?
- 16.4 PJ of 2P sales gas reserves as of 1 July 2026, up from 13.6 PJ a year earlier
- 6.1 PJ of 1P sales gas reserves reported, following FY26 production of 5.7 PJ
- Maiden 2P reserves booked for the Walyering West C1 Sand discovery
- Contingent resources at Walyering West increased by 10 PJ (2C)
- Net reserves and resources figures are all 100% attributable to Strike
What else do investors need to know?
Strike Energy's annual independent review by RISC Advisory covered both the existing Walyering gas field and the newly discovered Walyering West, now being treated as a single integrated field. The reserves upgrade reflects successful production, ongoing appraisal, and the planned tie-in of Walyering West 1 to existing processing facilities.
The company ended the period with about 16.3 PJ of contracted gas still to be supplied under current gas sales agreements, providing near-term revenue certainty. Final investment decisions for the Walyering West tie-in are expected in Q4 of calendar 2026, with engineering and planning work underway.
What did Strike Energy management say?
Managing Director & Chief Executive Officer Shelley Robertson said:
The addition of Walyering West to the Walyering Reserves booking is a great outcome for Strike. Walyering remains an important source of domestic gas supply for Western Australia. Strike will continue to focus on optimising production from the combined field and prudently managing its gas supply portfolio to support delivery under its existing gas sales agreements.
What's next for Strike Energy?
Strike Energy will focus on optimising combined production at Walyering and progressing development of Walyering West through existing infrastructure. Planning, front-end engineering, and design work are advancing, ahead of a final go-ahead slated for later in 2026.
Management says it will keep the market updated as development proceeds. Longer term, Strike continues to develop its Perth Basin assets and support Western Australia's energy transition away from coal.
Strike Energy share price snapshot
Over the past 12 months, Strike Energy shares have declined 13%, trailing the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
