Mineral Resources has entered into a $1.1 billion agreement with Hancock Prospecting to optimize its exploration assets in Western Australia, showcasing its successful gas exploration efforts.

Target Information

Mineral Resources (MinRes) is at the forefront of onshore gas exploration in Western Australia, having initiated its exploration program in 2015. The company has since amassed the largest exploration acreage in the highly sought-after Perth and Carnarvon basins. MinRes achieved a significant milestone in its exploration efforts with the first natural gas discovery at Lockyer-1 in 2021, located in the Mid West region. This achievement was followed by another major discovery at North Erregulla in 2023, further solidifying MinRes' position in the energy sector.

In September 2024, MinRes enhanced its portfolio with the announcement of its maiden resource assessments for the Lockyer Gas Project and Erregulla Oil Project, indicating vast onshore gas and oil deposits that rank among the largest findings in Western Australia.

Industry Overview

The gas exploration industry in Australia has significantly gained momentum, particularly within Western Australia, which possesses a wealth of natural gas resources. The Perth and Carnarvon basins are recognized for their geological potential,