What’s happening?
QPM Energy Limited (ASX:QPM) has announced a major upgrade to certified reserves and resources at its 100 percent owned Moranbah Gas Project in Queensland.
The update was confirmed on 10 March 2026 following new modelling and certification by independent petroleum advisor Netherland, Sewell & Associates, Inc.
The revised certification strengthens QPM’s position as an emerging supplier of long-life gas to Queensland’s domestic energy market. It also supports the next phase of development across the company’s gas and power platform.
All certified reserves and resources are located within QPM’s granted Petroleum Leases. Environmental and regulatory approvals for the project are already in place.
The updated estimates follow a reassessment of the Moranbah Gas Project. QPM said the review 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.
The company said the revised modelling also reflects updated field development planning and operational changes at both field and well levels. These include modifications to well operating parameters, facility management practices and development sequencing, together with changes to the cost and capital structure.
QPM Energy CEO David Wrench said the project had developed into a major gas asset for Queensland’s energy market.
“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,” Mr Wrench said.
“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.”
Why it matters
The upgraded certification reinforces the strategic significance of the Moranbah Gas Project within Queensland’s energy supply landscape.
QPM said the scale of the project strengthens its role in providing long-term gas supply for the domestic market.
The updated reserves also support the company’s broader energy plans, including electricity generation at the Isaac Energy Hub.
The announcement highlights the importance of the Bowen Basin in the context of east coast gas supply. QPM noted that the basin is one of five strategic gas basins identified by the Commonwealth Government.
These basins are considered important for helping bridge the gap between gas supply and demand across domestic and export markets.
Local impact
The Moranbah Gas Project sits within the Bowen Basin, a major energy-producing region in Central Queensland.
According to QPM, the scale of the project provides sufficient reserve certainty and cost support to help advance the proposed Bowen Gas Pipeline linking the Bowen Basin to Gladstone.
The company said this pipeline would provide a pathway to connect its gas reserves with major domestic and export markets.
The project also aligns with the Queensland Government’s Energy Roadmap, which aims to support the development of 3.6 gigawatts of new gas-fired generation by 2035.
By the numbers
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602.5 petajoules of 2P gas reserves were certified for the Moranbah Gas Project following updated modelling by Netherland, Sewell & Associates, confirming the scale of the project’s proven and probable reserves.
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414.2 petajoules of 2C contingent gas resources were also certified, reflecting additional volumes that could be developed as the project continues to expand.
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More than 800 petajoules of gas reserves and resources remain uncontracted, which QPM said could support new low cost electricity generation at the Isaac Energy Hub and future gas supply developments.
Zoom in
The reserve upgrade followed a detailed reassessment of the Moranbah Gas Project’s performance and development planning.
QPM said improved operating practices across the field, along with the successful recommissioning of wells, helped strengthen production outlook and recovery modelling.
Operational changes were also considered at both the field and well levels. These included adjustments to well operating parameters and facility management practices.
Development sequencing and updated cost structures were also incorporated into the revised modelling.
Zoom out
The announcement reinforces the role of the Bowen Basin in Australia’s broader energy supply system.
QPM noted that the Commonwealth Government has identified five strategic gas basins across the country. The Bowen Basin is one of those regions expected to play a key role in supporting future gas supply.
The updated reserves at Moranbah therefore contribute to wider discussions about domestic gas supply security and future energy infrastructure.
What to look for next
The next stage of development for the Moranbah Gas Project and QPM’s broader gas and power platform will be closely watched.
Key developments include potential progress on the proposed Bowen Gas Pipeline to Gladstone and further plans linked to the Isaac Energy Hub.
