How we supply our own markets has been a topic of increasing interest for the past few years, with the Beetaloo Basin in the Northern Territory a closely watched area for potential new gas supplies.

Emerging producer

One of the companies that has been active in the region is Beetaloo Energy Australia Ltd (ASX: BTL), which has a big year ahead of it, at least according to the analyst team at Canaccord Genuity.

Beetaloo Energy is currently a modestly-sized company, valued at just $305.3 million, but the Canaccord team thinks there's potential for this value to grow quickly this year, given the milestones the company is looking to check off.

As Canaccord said in a note to its clients recently:

Beetaloo Energy is an Australian gas company focused on developing unconventional gas resources in the Northern Territory, Australia. It is a dominant player and acreage holder in the Beetaloo Basin – a basin with large, well understood gas potential that has historically been overlooked due to its isolation and above-ground risk. With regulatory risk now largely in the rearview mirror and clear market pull factors emerging, we expect change.

Beetaloo in December made a final investment decision to go ahead with its Carpentaria pilot project, where it is targeting first gas sales by the end of calendar year 2026.

That project has a 10-year gas sales agreement with the Northern Territory Government.

Canaccord said re the development:

If the pilot proves commercial, we expect majors to move quickly, with Betaloo's strategic foothold and first-mover advantage positioning it as a prime beneficiary of the basin's potential re-rating.

Other companies active in the Beetaloo Basin include Santos Ltd (ASX: STO) and Tamboran Resources Corporation (ASX: TBN).

Banner year for the company

The Canaccord analysts said further:

CY26/27 marks a key inflection point for Beetaloo as it enters the execution phase after years of appraising/de-risking. Near-term potential catalysts include: 1) recommencement of the C-5H flow test, targeting higher rates and potentially higher estimated ultimate recoveries; 2) installation and commissioning of the Carpentaria Gas Plant (equipment delivery expected 1HCY26, commissioning in Q3 CY26); and 3) commencement of pilot gas sales in 2HCY26, with a ramp to nameplate in CY27/28. In parallel, Santos is set to commence a $300m program in July, and Tamboran is targeting commissioning of its own pilot project in CY26.

The Canaccord team have a speculative buy recommendation on Beetaloo Energy shares, compared with just 25.5 cents currently. That would represent upside of 76.7% if achieved.

The post Which emerging ASX gas producer could deliver almost 80% gains? appeared first on The Motley Fool Australia.

That's because it has just named two ASX energy shares that it thinks could be buys for investors with a high tolerance for risk. Here's what it is recommending to clients:

Beetaloo Energy Australia Limited (ASX: BTL)

The first ASX energy share that Morgans is positive on is Beetaloo Energy. Until earlier this week, it was known as Empire Energy Group Limited (ASX: EEG).

It is an energy explorer that holds 28.9 million acres of highly prospective exploration tenements in the McArthur Basin and Beetaloo Sub-basins in the Northern Territory.

Morgans highlights that it has been a big week for Beetaloo. It has announced the commencement of Carpentaria-5H hydraulic stimulation operations at the Beetaloo Basin and a neighbour has posted strong flow rates from its own operation. Morgans said:

A big week for Beetaloo Energy (previously called Empire Energy) as it kicks off the hydraulic stimulation of its key Carpentaria-5H well, just as a neighbour posts a stellar flow rate from its own in the basin. The Beetaloo Basin peer (Falcon/Tamboran JV) reported a flow rate of IP30 of 7.2mmcfpd gas from 1,671m lateral from their Shenandoah South 2H ST1 well announced this week.

We track BTL's progress with strong interest, particularly given the largescale C-5H well holds the potential to materially demonstrate play deliverability while testing possible upside scenarios through the upscaled well/completion designs. Significant cash of A$40.5m sees Beetaloo well supported through its pilot program.

The broker has a speculative buy rating and 73 cents price target on its shares.

Deep Yellow Ltd (ASX: DYL)

Another ASX energy share that has caught the eye of Morgans is Deep Yellow.

It is feeling increasingly bullish on the uranium producer thanks to some big industry news this week. The broker explains:

Following a US$200 million raise by the Sprott Physical Uranium Trust (SPUT) we are increasingly optimistic regarding the growing institutional confidence in the uranium investment case and confirms SPUT now has ample funding to purchase material volumes from the spot U3O8 market. The physical uranium spot market remains shallow and thinly traded.

Inflows into SPUT typically translate into immediate buying pressure, reinforcing upward momentum in spot prices with relatively small capital movements. We note the spot price is highly correlated to Uranium equity performance despite being a small portion of the traded market. In response to rising spot prices, increased buying activity, and improved macro sentiment, we have reassessed our uranium sector valuations to reflect stronger fundamentals and more durable price support.

In response, Morgans has retained its speculative buy rating with an improved price target of $1.92.

The post Morgans names 2 ASX energy shares to buy now appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping on Monday:

APA Group (ASX: APA)

The APA Group share price is down almost 4% to $6.94. This decline isn't due to the release of bad news or a broker downgrade. Rather, this weakness has been caused by the energy infrastructure company's shares going ex-dividend this morning for its latest payout. APA recently declared an interim dividend of 27 cents per share. It has gone ex-dividend for this today, with eligible shareholders scheduled to receive this payout in two and a half months on 17 March. This equates to a 3.75% dividend yield based on its last close price.

Block Inc (ASX: SQ2)

The Block Inc share price is down 2.5% to $143.03. This follows a pullback in the payments company's US listed shares on Friday night. The Afterpay and CashApp owner's shares were caught up in a tech selloff at the end of last week. But longer term shareholders won't be too disheartened. That's because Block Inc's shares remain up by over 25% since this time last year.

Empire Energy Group Ltd (ASX: EEG)

The Empire Energy Group share price is down over 4% to 22 cents. This morning, this energy explorer released a drilling update from the C-5H well, which is targeting the Velkerri-B shale formation. While the results were positive, the market appears disappointed by the company's decision to delay the fracture stimulation of C-5H. Commenting on the delay, managing director, Alex Underwood, said: "The decision we have made to delay the C-5H fracture stimulation from January 2025 to April 2025 has been taken with the best interests of our shareholders in mind, as the financial risk of weather-related issues would have been substantial."

Transurban Group (ASX: TCL)

The Transurban Group share price is down 2.5% to $13.48. This has also been driven by the company's shares going ex-dividend this morning. The toll road giant recently declared a 32 cents per share interim dividend. It will be paid to eligible shareholders next year on 25 February. Based on its last close price, this dividend equates to an attractive 2.3% dividend yield.

The post Why APA Group, Block, Empire Energy, and Transurban shares are falling today appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Develop Global Ltd (ASX: DVP)

The Develop Global share price is up 6% to $2.00. Investors have been buying this future-facing metals exploration company's shares following the release of its quarterly update. Management notes that it made strong progress at its Woodlawn and Pioneer Dome projects during the quarter and drove significant growth in its mining services business. Managing Director Bill Beament said: "Woodlawn's enviable status as a high-quality copper and zinc asset with a developed mine and near-new processing plant is reflected in the strong interest we have received from global financiers and commodity traders."

Empire Energy Group Ltd (ASX: EEG)

The Empire Energy share price is up 7% to 30 cents. This has been driven by news that the oil and gas company has signed a binding long-term gas sales agreement to supply the Northern Territory Government. The company will supply up to 25 terajoules of gas per day for 10 years from its Beetaloo Basin properties commencing in 2025. Managing director Alex Underwood said: "Empire has been actively pursuing production from the Beetaloo Basin since 2011, with strong support from the NT Government for this objective since 2018. Subject to final approvals, we anticipate being the first company to provide gas supply from the Beetaloo, commencing next year."

Mineral Resources Ltd (ASX: MIN)

The Mineral Resources share price is up 6.5% to $55.26. This follows the release of the mining and mining services company's quarterly update. Mineral Resources reported a 6% increase in quarterly iron ore shipments to 4.8Mt, which was ahead of the consensus estimate of 4.7Mt. This resulted in FY 2024 shipments of 18.1Mt, which was within guidance. Also achieving guidance was its mining services business. It reported a 9% increase in FY 2024 production volumes to 269 Mt. This was in the middle of its guidance range of 260 Mt to 280 Mt.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 5.5% to $3.03. This morning, analysts at Bell Potter released a note which suggested that this lithium miner's shares are undervalued. The broker has reaffirmed its hold rating, but its price target of $3.30 was 15% higher than yesterday's close price. It said: "We are confident that EV-led demand will see strong long-term lithium market fundamentals. However, weak near-term lithium market sentiment results in us retaining our Hold recommendation."

The post Why Develop Global, Empire Energy, Mineral Resources, and Pilbara Minerals shares are rising appeared first on The Motley Fool Australia.

Eagle-eyed investors might notice all the best-performing energy stocks of September are oil producers. Of course, September was a brilliant month for oil prices.

In fact, rising oil prices might have been one reason the S&P/ASX 200 Energy Index (ASX: XEJ) gained an impressive 16.3% last month. For comparison, the S&P/ASX 200 Index (ASX: XJO) fell 2.6% over September.

According to data from CNBC, the price of West Texas Intermediate soared 9.5% in September to reach US$75.03 per barrel.

Meanwhile, the Brent crude oil price gained 7.5%, ending the month at US$78.52 a barrel.

So, that explains why oil producers reigned through September, but which producers performed best?

The 3 best performing ASX energy shares of September

Investors who held shares in these energy stocks in September, get ready to pat yourself on the back.

For simplicity's sake, only energy shares with market capitalisations of more than $100 million have been included in this list.

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price came in at equal first place as one of two top-performing ASX energy shares over the month of September. It gained 42.8% over the course of last month.

While Beach Energy started off slow, its share price took off after the company released multiple announcements in late September.

First, Beach announced it had entered a heads of agreement with BP for the sale of all the liquid natural gas produced at its Waitsia Gas Project Stage 2. Then, it released a positive investor update.

The company's stock ended the month trading for $1.50 apiece.

Empire Energy Group Limited (ASX: EEG)

The Empire Energy share price was also best-in-show last month. The company's share price also gained an impressive 42.8% to finish September at 40 cents.

The company started the month strong, releasing an update on grants awarded to its wholly owned subsidiary.

The grants will offset 25% of the costs of seismic acquisition and drilling, fracture stimulation, and flow testing of three horizontal appraisal wells in its Beetaloo Sub-Basin tenement.  

It also announced it had received work program approval from the Northern Territory government.

Later in the month, Empire announced it was to restart operations at its Carpentaria-1 well after they were shut down in July due to COVID-19. It also provided an update on its Beetaloo operations.  

Comet Ridge Ltd (ASX: COI)

Finally, Comet Ridge made it onto the podium as the third best performing ASX energy share in September.

The Comet Ridge share price gained 40% over the course of last month, ending it trading at 14 cents.

In September, the company completed a $5 million placement ahead of an appraisal program at its Mahalo North blocks.

Later that month, Comet released a positive update on the block's program alongside an update on the company's cash position and commercial agreements.

The post These were the 3 best performing ASX energy shares in September appeared first on The Motley Fool Australia.

At the time of writing, the Empire Energy share price is swapping hands for 31 cents a pop, down 3.1%.

Details of the acquisition update

According to its release, Empire Energy advised that EMG NT has delivered a notice of exercise of tag-along right to Pangaea. A tag-along right comprises of a number of clauses (co-sale rights) that aim to protect a minority shareholder. Essentially if the majority shareholder sells their stake in an asset, it allows the smaller shareholder to follow suit and sell their holdings.

Empire Energy plans to acquire an 82.5% interest in 5 oil and gas tenements in the Northern Territory's Beetaloo sub-basin. Pangaea, the majority shareholder of those interests, will receive $5 million in cash and 140 million Empire Energy shares. In addition, there will be 8 million unlisted options attached to the shares with an exercise price of 70 cents apiece.

The remaining 17.5% interest that EMG NT holds will now also be sold on the same pro-rata basis. Empire Energy will seek shareholder approval at the extraordinary general meeting to obtain the green light for the acquisition.

If approved, EMG NT will receive $1.06 million in cash along with close to 29.7 million Empire Energy shares. Furthermore, almost 1.7 million options will be available to acquire ordinary Empire shares at 70 cents each.

Should all go to plan, Empire Energy will own a 100% interest in all its Beetaloo and McArthur Basin properties.

About the Empire Energy share price

Over the last 12 months, the Empire Energy share price has gained roughly 70%, however year-to-date performance is down 14%. The company's shares have been mostly travelling sideways since October last year.

Empire Energy presides a market capitalisation of approximately $110 million, with 363 million shares outstanding.

The post Why is the Empire Energy (ASX:EEG) share price sliding today? appeared first on The Motley Fool Australia.

This comes after the company entered a trading halt at its request pending a new announcement. Which in turn comes after it released a major acquisition announcement earlier this morning.

Below we take a look at the ASX energy share's acquisition announcement, released shortly before it requested a trading halt.

What acquisition did Empire Energy report?

The Empire Energy share price remains in a trading halt after the company announced its intent to acquire an 82.5% interest in 5 oil and gas tenements in the Northern Territory's Beetaloo sub-basin.

The company reported that its best estimate of Prospective Resources have more than doubled while its Contingent Resources have increased more than 350%.

Pangaea will receive $5 million cash and 140 million shares in Empire Energy once the transaction is complete. Pangaea will also receive 8 million unlisted options in Empire Energy with an exercise price of 70 cents per share.

Empire reported that the acquisition will give it numerous "drill-ready targets" and boost its early commercialisation plans for the Beetaloo.

Commenting on the acquisition, Empire Energy's Managing Director Alex Underwood said:

This acquisition confirms Empire's position as the leading Beetaloo independent. The transaction significantly increases Empire's operated acreage, Prospective Resources and Contingent Resources in this key region.

Empire now controls a globally significant gas resource which strengthens our early commercialisation strategies. Pangaea's tenements overlap the Amadeus Gas Pipeline, which in addition to the McArthur River Mine Gas Pipeline that crosses EP187, provides Empire with multiple pathways to market utilising existing infrastructure.

Underwood added that the resources contained in the tenements will help Australia and the wider Asian region meet their energy needs.

The acquisition remains subject to Empire Energy's shareholder and Northern Territory government approvals. Empire expects the deal to be completed in June.

Amicaa is acting as financial advisor for Empire while Morgan Stanley is acting as financial advisor for Pangaea.

Empire Energy share price snapshot

Empire Energy shares have gained 98% over the past 12 months, far outpacing the 31% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date the Empire Energy share price is up 4%.

The post Why the Empire Energy (ASX:EEG) share price is on watch today appeared first on The Motley Fool Australia.