What Is Carnarvon Energy's (ASX:CVN) 2027 Bedout Drilling Plan and Cash Position?

Sonal Goyal

27 October 2026 12:29 AM AEDT

What Is Carnarvon Energy's (ASX:CVN) 2027 Bedout Drilling Plan and Cash Position?

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Key Highlights

Carnarvon Energy (ASX:CVN) closed at $0.105, up 5.00%, on 26 October 2026.
Cash was A$97 million with no Debt and a US$90 million development carry for Dorado.
The Transocean Equinox is contracted for 2027 Bedout drilling, with the Ara prospect the most likely firm well.

Carnarvon Energy Ltd (ASX:CVN) closed at $0.105, up 5.00%, in the Trading session on 26 October 2026, while the S&P/ASX 200 closed at 8,809.9, up 0.17%, and the S&P/ASX 200 Energy index gained 0.92%. Carnarvon is an ASX-listed oil and gas explorer with interests in the Bedout Sub-basin offshore Western Australia.

Quarterly Activities Report Dated 9 October 2026

Carnarvon reported that the Transocean Equinox rig has been contracted for the 2027 Bedout campaign, with environmental plan approval on track for drilling to start from April 2027. The campaign includes one firm and one contingent well in its exploration permits. Ara, the most likely firm well, is a play-opening prospect with a 37% geological chance of success and 191 mmboe of prospective resources (gross, unrisked Pmean).

The company says Dorado remains FEED-ready and capable of producing about 60,000 barrels of oil per day, and it expects the campaign to cost it less than $20 million if two wells are drilled.

Corporate Position

Carnarvon held A$97 million of cash, no debt and a US$90 million development carry for Dorado. It also holds a 19.9% stake in Strike Energy (ASX:STX). Prospective resources are estimates of undiscovered quantities that carry both a risk of discovery and a risk of development.

Carnarvon's chief executive said the multi-well, multi-year environment plans give flexibility on drilling targets and that Ara is a very large prospect in the north of permit WA-435-P. He noted industry data published in September 2026 showing a fall in Australia's Crude Oil production, which the company cites as reinforcing the importance of Dorado. The campaign is expected to cost the company less than $20 million if two wells are drilled.

About Carnarvon Energy

Carnarvon's portfolio centres on the Dorado oil project and the Pavo and Ara exploration prospects in the Bedout Sub-basin.

The company's Strike Energy holding of 19.9% is described as strategic, with Strike having recently announced a path forward for its West Erregulla development.

Risks and Catalysts on Watch

Drilling depends on environmental plan approval and joint venture planning, and Ara is an exploration well with a stated 37% chance of success. Drilling is scheduled to start from April 2027.

Wrapping Up

Carnarvon reported a funded 2027 drilling plan and A$97 million of cash. The shares closed up 5.00% on 26 October.

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