Strike Energy (ASX:STX) has released its financial results for the half-year ended Dec. 31, 2025, reporting a period of steady production growth alongside significant infrastructure development.
The company generated $36 million in sales revenue from its Walyering operations, producing 3.8 PJe of gas and condensate at a highly competitive production cost of $0.75 per gigajoule.
Despite this revenue stability, Strike recorded an underlying EBITDA of $14 million and a net loss for the period of $12.3 million, an improvement over the $15.5 million loss recorded in the previous year.
A primary focus for the company remains the South Erregulla 85 MW Peaking Gas Power Project, which is now 77% complete.
The project remains on track and within budget for a targeted commissioning date of Oct. 1.
Strike also secured a significant future revenue stream via a final reserve capacity price of $360,700/MW for the 2027/28 period, which is expected to underpin approximately $30.7 million in annual firm capacity revenue.
On the corporate front, Strike strengthened its liquidity through a strategic $86 million investment from Carnarvon Energy and an additional $1.7 million raised via a share purchase plan.
The company ended the half-year with $69.5 million in cash and approximately $113 million in available credit facilities.
Looking ahead, drilling at Walyering West-1 is expected to commence in mid-April, supported by an ongoing production optimisation strategy.
At the time of reporting, Strike Energy's share price was $0.095.