Brisbane, Australia – 10 March 2026 | QPM Energy Limited (ASX:QPM) has announced a transformational upgrade to the certified reserves and resources at its 100%-owned Moranbah Gas Project in Queensland, Australia, with leading independent petroleum advisor Netherland, Sewell & Associates, Inc. updating its modelling and certifying 2P Reserves of 602.5PJ and 2C Resources of 414.2PJ (combined total of 1,016.5PJ). All reserves and resources are located within QPM’s granted Petroleum Leases, with environmental and regulatory approvals already in place.
The updated certification strengthens QPM’s position as an emerging supplier of long-life gas to Queensland’s domestic energy market, while supporting the next phase of development across the Company’s gas and power platform.
QPM said it now has more than 800PJ of uncontracted gas reserves and resources available to underpin additional low-cost, long-duration electricity generation capacity at the Isaac Energy Hub, as well as the proposed Bowen Gas Pipeline to Gladstone, which would connect the Company’s gas position to both domestic and export markets.
The upgrade follows a reassessment of the Moranbah Gas Project and reflects improved field operating practices, the successful recommissioning of wells across the field, lower operating costs, and detailed analysis of historical production and recovery factors.
QPM said the revised estimates also reflect updated field development planning and operational changes at both field and well level, including modifications to well operating parameters, facility management practices and development sequencing, together with changes to the cost and capital structure.
QPM Energy CEO, Mr David Wrench, commented: “QPM’s Moranbah Gas Project has developed into a very significant gas asset with the capacity to underpin Queensland’s gas and electricity markets for the long term. The combination of QPM’s granted Petroleum Leases and extensive production, processing and compression infrastructure is a unique platform enabling the fast-track development of these reserves and a pathway for significant value creation for our shareholders.”
The announcement also reinforces the strategic significance of the Bowen Basin in the context of east coast gas supply. QPM noted that the Bowen Basin is one of five strategic gas basins identified by the Commonwealth Government as potentially playing a key role in bridging the gap between gas supply and demand across domestic and export markets. It also pointed to the Queensland Government’s Energy Roadmap, including its objective to support the development of 3.6GW of new gas-fired generation by 2035.
According to QPM, the scale of the Moranbah Gas Project means there is now sufficient reserve certainty and cost support to help advance the proposed Bowen Gas Pipeline from the Bowen Basin to Gladstone. The Company said this would provide a pathway to connect its gas reserves with major domestic and export markets at a time when supply shortfall concerns have become more acute.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
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