The Queensland government has selected an Omega Oil & Gas-led joint venture as the preferred tenderer for a major petroleum land release area in Southern Queensland’s Taroom Trough.
Following a tender process under the state’s 2026 Petroleum and Gas Land Release Program, the joint venture, comprising Omega as operator with a 45 per cent stake, Tri-Star E&P Ltd. with 30 per cent, and Beach Energy Ltd. with 25 per cent, secured preferred status for the PLR2026-1-10 area.
The release covers 1,138 square kilometres along the eastern flank and southernmost section of the Taroom Trough.
The addition expands Omega’s total operated footprint across the region by 63 per cent, growing its acreage from 1,809 to 2,947 square kilometres.
Adjoining Omega’s existing Canyon Project Area, the new acreage is interpreted to contain six stacked Permian reservoir intervals within an over-pressured basin section, which is expected to support strong well deliverability.
Omega CEO Trevor Brown said the award was a major milestone for evaluating the unconventional oil and gas province at a basin scale.
“The award of this highly prospective land release area is an important strategic outcome for our joint venture, providing us an additional opportunity to demonstrate the enormous resource potential of the Taroom Trough,” Brown said.
“As Australia seeks secure, reliable and affordable energy, Omega is well positioned to play a leading role in supplying domestically produced oil and gas for decades to come.”
The new land area increases the company’s long-term inventory of drilling and appraisal opportunities and supports the company’s aspiration of developing a nationally significant source of domestic oil and gas.
Formal tenure grant remains subject to final Queensland government administrative processes.
Meanwhile, Omega’s 2026 to 2027 appraisal campaign remains on schedule, with the Canyon-4 vertical well currently progressing toward the primary Canyon Sandstone interval.
