Oil prices have jumped on renewed conflict risks around Iran and the key Strait of Hormuz, putting energy security back on investors' radar. Higher crude can pressure households, but it also shines a spotlight on large global oil and gas producers. This article walks through three Australian listed oil and gas stocks from our screener that many investors watch when supply worries return and energy markets tighten.
The three stocks covered below are just a sample, and the full screen surfaced 21 more oil and gas companies worldwide with equally compelling narratives that are not covered in this article. To go wider than these headline producers, identify your own highest conviction ideas, and analyze how they stack up, head straight into the Oil and Gas screener .
Tamboran Resources (ASX:TBN)
Tamboran Resources is a pure play Beetaloo Basin gas developer, focused on unconventional natural gas acreage that ties directly into the Oil and Gas theme as Australia looks for fresh supply options.
Tamboran Resources develops unconventional natural gas in Australia's Beetaloo Basin through working interests in EP 76, 98, 117, 161, 136 and 143, and has a market value of about A$2.0b.
"Progress towards first gas from the Beetaloo Basin Pilot Area in the third quarter of calendar 2026, supported by an 88% complete compression facility and an APA owned pipeline in final commissioning, is expected to move Tamboran Resources from a pre revenue phase toward contracted gas sales."
What happens when one unresolved bottleneck in Tamboran Resources' development plan shifts could heavily influence future cash generation and investor sentiment.
When that bottleneck finally shifts, the full narrative for Tamboran Resources lays out how Tamboran Resources could accelerate or stall as contracts, funding and timelines all start to move.
Woodside Energy Group (ASX:WDS)
Woodside Energy Group is a heavyweight LNG and gas producer in the Oil and Gas screener, with large export projects that can directly link global demand trends to your portfolio exposure.
Woodside Energy Group develops and sells LNG, gas and oil across multiple regions, with most revenue tied to Australian operations at about US$7.3b, supported by International activities at roughly US$4.6b and Marketing at about US$1.9b. The business is a large cap, with a market value near A$59.9b.
"Investor optimism appears driven by robust expectations for long-term demand growth in Asian and emerging markets, with Woodside's global LNG expansion (Louisiana, Scarborough) positioned to capture this growth; however, these assumptions may underestimate the potential for rapid decarbonization policies or renewable adoption, risking future revenue and volume growth if LNG demand softens in key markets."
A shift in a single assumption in Woodside Energy Group's LNG growth story could sharply reshape how investors think about future cash generation.
That single shift in the LNG thesis could be pivotal, and the full narrative for Woodside Energy Group shows how Woodside Energy Group's growth story might accelerate or stall from here.
Santos (ASX:STO)
Santos is a major Oil and Gas producer focused on upstream natural gas and liquids, generating most of its income from PNG at about US$2.4b, supported by Queensland and NSW at roughly US$1.0b and Western Australia at around US$735 million, with a market value near A$27.7b.
Santos gives you direct leverage to some of the biggest LNG and gas projects in Australia and PNG, which is why many investors watch it closely inside an Oil and Gas screen.
"The recovery is supported by Santos' low operating break-even of below $35 per barrel, solid cash flows, and major projects including Barossa LNG and Pikka, which could significantly boost production and free cash flow."
What happens when one unresolved pressure on Santos' cash returns starts to shift could matter a lot for long term LNG-linked payouts.
If that pressure starts to ease, the full narrative for Santos explains how Santos could translate low break evens into stronger cash generation, while also identifying where the thesis could still stall.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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