Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Oil and Gas Exploration and Production Industry Analysis

UpdatedMay 13, 2026
DataAggregated Company Financials
Companies71
  • 7D-5.3%
  • 3M14.2%
  • 1Y31.0%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has dropped 5.3%, driven by a pullback from Woodside Energy Group of 3.0%. In contrast, Strike Energy has gained 22%. Over the past 12 months, the industry was up 31%. As for the next few years, earnings are expected to grow by 8.1% per annum.

Industry Valuation and Performance

Has the Australian Oil and Gas Exploration and Production Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 14 May 2026AU$93.0bAU$28.6bAU$4.5b14.6x20.8x3.3x
Sat, 11 Apr 2026AU$99.2bAU$29.2bAU$4.6b16.1x21.6x3.4x
Mon, 09 Mar 2026AU$92.3bAU$29.4bAU$4.7b20.3x19.8x3.1x
Wed, 04 Feb 2026AU$79.3bAU$31.1bAU$5.4b20.5x14.7x2.5x
Fri, 02 Jan 2026AU$74.3bAU$32.5bAU$5.7b17.9x13.1x2.3x
Sun, 30 Nov 2025AU$77.3bAU$33.1bAU$5.8b17x13.4x2.3x
Tue, 28 Oct 2025AU$77.2bAU$33.0bAU$5.8b17.8x13.3x2.3x
Thu, 25 Sep 2025AU$74.1bAU$32.8bAU$5.9b14.8x12.6x2.3x
Sat, 23 Aug 2025AU$84.5bAU$34.0bAU$6.4b13.6x13.1x2.5x
Mon, 21 Jul 2025AU$80.6bAU$32.4bAU$7.5b14.9x10.8x2.5x
Wed, 18 Jun 2025AU$82.6bAU$32.2bAU$7.4b14.2x11.1x2.6x
Fri, 16 May 2025AU$70.7bAU$32.9bAU$7.6b12.8x9.3x2.2x
Sun, 13 Apr 2025AU$62.5bAU$33.4bAU$7.7b12.9x8.1x1.9x
Tue, 11 Mar 2025AU$71.8bAU$33.3bAU$7.7b13x9.3x2.2x
Thu, 06 Feb 2025AU$79.2bAU$32.9bAU$4.7b12.6x17x2.4x
Sat, 04 Jan 2025AU$79.1bAU$33.2bAU$4.7b12.8x16.8x2.4x
Mon, 02 Dec 2024AU$76.2bAU$31.8bAU$4.5b12.6x17.1x2.4x
Wed, 30 Oct 2024AU$76.4bAU$31.6bAU$4.4b11.6x17.2x2.4x
Fri, 27 Sep 2024AU$77.9bAU$30.2bAU$4.2b8.6x18.7x2.6x
Sun, 25 Aug 2024AU$81.9bAU$32.7bAU$3.9b7.9x21.3x2.5x
Tue, 23 Jul 2024AU$89.9bAU$33.7bAU$4.5b8.2x20x2.7x
Thu, 20 Jun 2024AU$85.3bAU$33.6bAU$4.5b7.9x19x2.5x
Sat, 18 May 2024AU$87.2bAU$33.7bAU$4.5b7.2x19.4x2.6x
Mon, 15 Apr 2024AU$93.3bAU$34.7bAU$4.6b7.4x20.1x2.7x
Wed, 13 Mar 2024AU$88.4bAU$34.0bAU$4.5b8.7x19.5x2.6x
Fri, 09 Feb 2024AU$95.8bAU$42.6bAU$13.2b6.3x7.2x2.3x
Sun, 07 Jan 2024AU$96.5bAU$41.3bAU$12.8b6.4x7.6x2.3x
Tue, 05 Dec 2023AU$90.8bAU$41.6bAU$12.9b7.2x7.1x2.2x
Thu, 02 Nov 2023AU$102.0bAU$43.6bAU$13.5b7.6x7.6x2.3x
Sat, 30 Sep 2023AU$106.3bAU$42.9bAU$13.3b5.9x8x2.5x
Mon, 28 Aug 2023AU$107.4bAU$43.2bAU$13.4b7x8x2.5x
Wed, 26 Jul 2023AU$108.6bAU$40.0bAU$13.1b7.2x8.3x2.7x
Fri, 23 Jun 2023AU$103.3bAU$40.0bAU$13.1b7x7.9x2.6x
Sun, 21 May 2023AU$99.5bAU$40.6bAU$13.3b6.8x7.5x2.5x
Price to Earnings Ratio

7.5x


Total Market Cap: AU$99.5bTotal Earnings: AU$13.3bTotal Revenue: AU$40.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 13.6x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Oil and Gas Exploration and Production industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 20.8x which is higher than its 3-year average PE of 13.6x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 30% per year over the last three years,
  • Revenues have also declined 11% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does Australian Oil and Gas Exploration and Production compare with similar industries?

AU Market-0.098%
Energy-5.77%
Oil and Gas-5.77%
Oil and Gas Exploration and Production-5.28%
Oil and Gas Storage and Transportation11.11%
Coal and Fuels-6.79%
Oil and Gas Refining and Marketing-6.96%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
STX Strike EnergyAU$0.1421.7%
+AU$90.0m		-24.3%PS6.9x
CVN Carnarvon EnergyAU$0.1313.6%
+AU$31.3m		13.6%PB1x
EMP Emperor EnergyAU$0.134.0%
+AU$4.9m		381.5%PS1506.5x
CRD Conrad Asia EnergyAU$0.495.3%
+AU$4.8m		-29.3%PB1.9x
EQU Equus EnergyAU$0.425.6%
+AU$4.6m		n/aPE14x

Latest News

CRD
AU$0.49
Conrad Asia Energy
7D
5.3%
1Y
-29.3%
WDS
AU$30.87
Woodside Energy Group
7D
-3.0%
1Y
38.4%
Narrative Update • May 12

WDS: Higher Required Returns Will Pressure Margins And Limit Future Upside

Analysts have raised their A$ fair value estimate for Woodside Energy Group from A$21.46 to A$24.37, citing revised assumptions for revenue trends, profit margins and future P/E expectations. Analyst Commentary While the updated A$24.37 fair value estimate reflects revised assumptions for Woodside Energy Group, some market voices remain cautious about how much upside is actually on the table at current levels.
STX
AU$0.14
Strike Energy
7D
21.7%
1Y
-24.3%
Narrative Update • May 08

STX: Future Index Changes Will Balance Governance Tensions With Steady Long Term Metrics

Analysts have adjusted their view on Strike Energy's valuation, with a revised A$ price target that reflects updated assumptions for revenue growth, profit margins, a lower future P/E multiple, and a slightly higher discount rate. What's in the News Strike Energy Limited (ASX:STX) added to the S&P/ASX Emerging Companies Index, putting the stock on the radar of investors who track smaller growth-focused indices (Key Developments).
FDR
AU$0.40
Finder Energy Holdings
7D
-14.0%
1Y
900.0%
CVN
AU$0.13
Carnarvon Energy
7D
13.6%
1Y
13.6%
New Narrative • May 07

Carnarvon Energy sees 167% upside if oil holds above $100

If the Dorado development begins production by July 2027, then revenue on the 20% stake in the project will return a total of $150-250million AAR. With this income the stock's new valuation would be around $0.25 AUD/ share, which means that stock at $0.11 AUD/share is currently 127% undervalued, assuming market conditions hold and project is completed on time.
STO
AU$7.68
Santos
7D
-2.7%
1Y
19.6%
BPT
AU$1.08
Beach Energy
7D
-4.4%
1Y
-18.6%
Narrative Update • May 02

BPT: Weaker Dividend Payout Will Constrain Future Share Price Upside

Analysts have lifted their fair value estimate for Beach Energy from A$0.65 to A$0.78, citing updated assumptions on revenue trends, higher expected profit margins and a slight adjustment to the forward P/E multiple. What's in the News Beach Energy declared a fully franked cash dividend of A$0.01 per share for the six months ended December 31, 2025, with an ex date of February 26, 2026, a record date of February 27, 2026, and a payment date of March 31, 2026 (Key Developments).
NGY
AU$0.035
NuEnergy Gas
7D
6.1%
1Y
75.0%
OMA
AU$0.84
Omega Oil & Gas
7D
-2.9%
1Y
293.0%
BTL
AU$0.29
Beetaloo Energy Australia
7D
-3.3%
1Y
43.9%
HZN
AU$0.23
Horizon Oil
7D
-2.2%
1Y
23.3%
D3E
AU$0.38
D3 Energy
7D
8.6%
1Y
533.3%
EMP
AU$0.13
Emperor Energy
7D
4.0%
1Y
381.5%
EQU
AU$0.42
Equus Energy
7D
5.6%
1Y
n/a
GLL
AU$0.007
Galilee Energy
7D
16.7%
1Y
16.7%
PCL
AU$0.012
Pancontinental Energy
7D
-14.3%
1Y
9.1%