Strike Energy (ASX:STX): FY26 Results Highlight South Erregulla Progress and Higher Capital Investment

Aditi Sarkar

29 September 2026 07:01 PM AEST

Strike Energy (ASX:STX): FY26 Results Highlight South Erregulla Progress and Higher Capital Investment

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Highlights

Strike Energy reported FY26 sales Revenue of A$62.8 million and a net loss of A$27.2 million.
The South Erregulla 85MW power project is targeted to reach commercial operations in Q4 2026.
FY26 Capital Expenditure increased as the company progressed development activities.
The company reported Walyering production and reserve updates.
West Erregulla remains focused on future development milestones.

Strike Energy Limited (ASX:STX) is a Western Australian energy company focused on gas exploration, production and energy infrastructure projects. The company’s FY26 results update outlines financial performance, Capital Investment activities and progress across key projects including South Erregulla and West Erregulla.

FY26 Financial Performance

Strike Energy reported sales revenue of A$62.8 million for the year ended 30 June 2026, compared with A$72.7 million in FY25. The company reported underlying EBITDA of A$17.6 million and a net loss of A$27.2 million for the period, compared with a net loss of A$157.3 million in FY25.

The company stated that the FY26 figures were unaudited and current as at the date of the results presentation. Financial performance reflected ongoing development activities and investment across the company’s energy projects.

Capital Investment and Balance Sheet

Strike Energy reported FY26 capital expenditure of A$151.3 million, primarily related to the South Erregulla power project, Walyering compression activities and Walyering West development.

At 30 June 2026, the company reported cash of A$46.3 million and book borrowings of A$157.7 million, resulting in net Debt of A$111.4 million. Strike stated that all debt covenants were complied with.

The company also provided details of debt facilities and repayment arrangements, including existing tranches and future financing requirements associated with its development activities.

South Erregulla Power Project

The 85MW South Erregulla power project remains a key development focus for Strike Energy. The company stated that the project is approaching commercial operations, with completion targeted for the fourth quarter of calendar 2026.

Strike outlined projected capacity revenue from the project for future years. These figures represent company projections and depend on successful commissioning and operation of the facility.

West Erregulla Development

Strike Energy continues to progress planning activities for the West Erregulla gas project. The company is targeting a final investment decision in FY28 and first gas in calendar 2029.

The company outlined a targeted production profile based on its share of the joint venture development. Strike also noted potential funding support arrangements that remain subject to further agreements and approvals.

Operational Updates

Strike reported that Walyering production declined during FY26 due to natural field decline and compression requirements. The company stated that compression activities support production capacity and that Walyering reserves increased during the period.

The company’s FY27 priorities include progressing South Erregulla operations, managing debt through operations, advancing West Erregulla development and maintaining capital discipline.

Key Insights

Strike Energy’s FY26 update provides information on the company’s financial position, infrastructure development and future gas projects. South Erregulla remains a major near-term milestone, while West Erregulla represents a longer-term development pathway requiring further technical and funding steps.

FAQs

Q: What financial results did Strike Energy report for FY26?

A:Strike reported sales revenue of A$62.8 million and a net loss of A$27.2 million.

Q: What is the South Erregulla project?

A:It is an 85MW power project targeted for commercial operations in Q4 2026.

Q: What are Strike Energy’s West Erregulla plans?

A:The company is targeting a final investment decision in FY28 and first gas in calendar 2029.

Q: What were Strike’s FY26 capital expenditures?

A:The company reported FY26 capital expenditure of A$151.3 million.

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