Strike Energy Gears Up for Growth: Walyering Gas Field to Drive 2024 Revenue Surge

Australian oil and gas producer Strike Energy Limited (ASX: STX) is poised for strong growth in production volume and revenue in 2024, buoyed by the company’s Walyering gas field in Australia starting production. Walyering is a low-cost, fast-to-market, maiden gas project that has transformed Strike from an oil explorer to a producer.

Based on Visible Alpha consensus, Strike Energy is estimated to generate 986 thousand barrels of oil equivalent (MBOE) in 2024 from Walyering in its first year of production, generating A$46 million in natural gas and condensate revenue. Driven by the Walyering gas field, the company’s total revenue is estimated to surge from A$4 million in 2023 to A$48 million in 2024. Strike Energy’s other oil fields—South Erregulla, West Erregulla, and Ocean Hill—are expected to start production by 2026-27, further boosting production and revenues for the company.