Discovery Energy
Discovery Energy Corp. is a publicly traded (otcqb:DENR) oil and gas exploration company holding a 100% interest in the 2,369 km² PEL 512 license in Australia's Cooper/Eromanga Basins, currently pre-revenue and focused on identifying commercial hydrocarbon drill targets via 3D seismic surveying.
- Company typePublic
- Founded2012
- HeadquartersHouston, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Discovery Energy does
Discovery Energy Corp. (otcqb:DENR) is a publicly traded oil and gas exploration company headquartered in Houston, Texas, with an operating subsidiary (Discovery Energy SA Pty Ltd) based in Melbourne, Australia. The company's sole material asset is a 100% working interest in the PEL 512 Petroleum Exploration License, covering 584,651 gross acres (2,369 km²) on the Western Margin of the Cooper and Eromanga Basins in Central Australia — Australia's largest onshore petroleum province. PEL 512 is divided into PEL 512 West (403,000 acres), PEL 512 South (179,000 acres), and the 2,000-acre Lycium prospect, and is valid under a South Australia Government grant until 2035.
The company's core technology is conventional 3D seismic surveying to identify hydrocarbon drill targets, executed through the Nike 3D survey (completed Q4-2016) and the Adidas 3D survey (completed Q1-2023), collectively providing 583 km² of 3D coverage and 5,153 km of 2D seismic coverage over the license. Adjacent infrastructure includes the Moomba central processing plant and approximately 3,000 km of pipeline networks connecting to South Australia, New South Wales, Queensland, and Victoria markets, providing a low-cost path to commercialization contingent on a commercial discovery.
Discovery Energy is in the exploration stage with no reported revenue from 2018 through 2022. Its business model is to convert prospective resources into reserves through drilling, with future revenue intended to come from oil and gas production sold into Australian commodity markets via existing pipeline infrastructure. To date, the company has been funded primarily through convertible debenture financings — a $5.5875 million placement in May 2016 with DEC Funding, LLC (led by Houston-based investor Steven Webster) and Texican Energy Corporation, a $20 million Additional Purchase Option from DEC Funding in May 2017, and smaller periodic raises between 2012 and 2020. Leadership comprises Keith Mckenzie (CEO), Keith Spickelmier (Chairman), Mike Dahlke (President/COO), and William Begley (CFO).
Discovery Energy firmographics
Firmographics- Name
- Discovery Energy
- Legal name
- Discovery Energy Inc.
- Website
- https://discoveryenergy.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Discovery Energy Corp. is a publicly traded (otcqb:DENR) oil and gas exploration company holding a 100% interest in the 2,369 km² PEL 512 license in Australia's Cooper/Eromanga Basins, currently pre-revenue and focused on identifying commercial hydrocarbon drill targets via 3D seismic surveying.
- Ownership category
- akta.pro rank
Discovery Energy industry classification
Industry- Product category
- Upstream Oil and Gas Exploration
- NAICS
- Oil and Gas Extraction (211), Natural Gas Extraction (21113), Crude Petroleum Extraction (211120), Oil and Gas Extraction (2111), Geophysical Surveying and Mapping Services (541360)
- SIC
- Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382), Oil & Gas Field Services, Nec (1389)
- akta.pro primary industry
- Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG)
- akta.pro secondary industries
- Unconventional Gas E&P (Shale/Tight Gas) (EUAAAAAC), Exploration, Appraisal & Subsurface (Seismic, Geology, Reservoir Characterization) (EUAAAAAH), Seismic & Geoscience Services (Acquisition, Processing, Interpretation) (EUALABAK)
Keywords
Where Discovery Energy is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Discovery Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Technology or R&D, Others, Personnel, Supply Chain
Revenue model
- Oil and Gas Exploration and Production: Discovery Energy is in the exploration stage focusing on converting its significant portfolio of prospective resources into reserves through drilling. The company engages in exploration, development, production and acquisition of conventional and unconventional natural gas, oil and energy projects. Revenue will be generated from oil and gas production once commercial discoveries are made.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Discovery Energy product offering
Product offeringCore offering
Discovery Energy engages in the exploration, development, production and acquisition of conventional and unconventional natural gas, oil and energy projects, with its primary asset being the PEL 512 Petroleum Exploration License covering 584,651 acres (2,369 km²) on the Western Margin of Australia's Cooper/Eromanga basins. The company is currently in the exploration stage, leveraging proprietary 3D seismic surveys (Nike 3D and Adidas 3D) to identify drill targets, and intends to commercialize any discoveries via existing pipeline infrastructure tied to the Moomba central processing plant.
Product overview
Discovery Energy is an oil and gas exploration and production company focused on the highly prospective Cooper and Eromanga basins in Australia. The company's primary asset is the PEL 512 Petroleum Exploration License, covering 584,651 gross acres (2,369 km2) in Central Australia, on which Discovery Energy holds 100% interest as operator. The company engages in exploration, development, production and acquisition of both conventional and unconventional natural gas and oil resources. The portfolio includes multiple blocks: PEL 512 West (403,000 acres, the largest and most westerly), PEL 512 South (179,000 acres), and the Lycium prospect (2,000 acres). Exploration activities include 3D seismic surveys such as the Nike 3D Survey (2016) and Adidas 3D Survey (2023).
Differentiator
Problem solved
Functional benefit
Products and services
- PEL 512 Petroleum Exploration License A 100%-operated petroleum exploration license covering 584,651 acres (2,369 km²) in Australia's Cooper/Eromanga basin, encompassing the Lycium prospect, PEL 512 West (403,000 acres) and PEL 512 South (179,000 acres) blocks; the company holds 100% interest as operator and targets both conventional and unconventional oil and gas resources.
- Cooper Basin Oil and Gas Exploration and Production Operations Engagement in the exploration, development, production and acquisition of conventional and unconventional natural gas, oil and energy projects across Australia's Cooper and Eromanga basins, with strategic partnerships planned with major producers in the region.
- Nike 3D Seismic Survey A 3D seismic survey completed in Q4-2016 across PEL 512, covering crew caravan, sunrise locations, line trucks and testing operations to identify drill targets on the Western Flank production trend.
- Adidas 3D Seismic Survey A 3D seismic survey conducted at PEL 512 in Q1-2023, following the Nike 3D survey, to further evaluate and refine exploration drill targets in the permit area.
Quantifiable outcome
- Exploration success rate exceeding 50% following 3D seismic acquisition
- +1 more outcomes
Companies that use Discovery Energy
Customer profileNamed customers4 records
Segments1 record
Ideal customer profiles1 record
Discovery Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Discovery Energy partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Liberty PetroleumcoreDiscovery Energy signed a Purchase Agreement with Liberty Petroleum for the PEL 512 Project in April 2012. The companies subsequently completed definitive agreements in June 2012 for the PEL 512 acquisition, with Liberty Petroleum providing access to the exploration license.
Scale indicators14 records
Recent moves6 records
Expansion highlights5 records
Discovery Energy competitors and assessment
Company assessmentDirect peers
- Carnarvon Petroleum: ASX-listed Australian E&P company pursuing exploration and appraisal opportunities in Australian basins. Comparable as a small-to-mid cap Australian upstream company with exploration-stage assets and infrastructure-led commercialization strategies.
- Blue Energy: ASX-listed Australian gas-focused explorer with acreage in multiple onshore basins, including Queensland. Comparable as a small-cap Australian onshore gas explorer pursuing conventional and unconventional resources with infrastructure proximity as a key value driver.
- Galilee Energy: ASX-listed Australian gas explorer with onshore acreage targeting conventional and unconventional resources. Comparable as a small-cap Australian upstream explorer with a single-asset or concentrated-asset focus similar to Discovery Energy's PEL 512-centric model.
- Beach Energy: ASX-listed Cooper Basin operator that is the closest geographic and geological peer, with Western Oil Margin discoveries directly offsetting PEL 512. Beach Energy's active drilling in the same fairway makes it the most directly comparable operator in terms of play, infrastructure access, and basin dynamics.
- Santos: Major Cooper Basin operator that owns the Moomba central processing plant and extensive pipeline network that PEL 512 would feed into. Santos is the dominant incumbent in the basin and the most relevant comparable for infrastructure access, reserve scale, and commercialization economics.
- Cooper Energy: ASX-listed Cooper and Eromanga basins operator conducting active exploration in the Western Oil Margin immediately adjacent to PEL 512. Comparable in focus on conventional and unconventional gas/oil in the same geological fairway and at a similar scale.
- Senex Energy: ASX-listed Cooper Basin operator pursuing Western Oil Margin exploration adjacent to PEL 512. Senex's recent activity in the same play and similar onshore Australian acreage focus make it a directly comparable peer for exploration strategy and asset profile.
- Central Petroleum: ASX-listed Australian onshore oil and gas explorer with a multi-asset portfolio across central Australia. Comparable as a small-to-mid cap Australian E&P focused on conventional and unconventional onshore plays, including acreage near existing infrastructure.
- Buru Energy: ASX-listed Australian oil and gas explorer focused on onshore basins. Comparable as a small-cap Australian upstream explorer pursuing exploration-stage assets with infrastructure-led commercialization strategies similar to Discovery Energy's PEL 512 approach.
- Strike Energy: ASX-listed Australian gas-focused explorer with onshore acreage pursuing commercialization into established pipeline infrastructure. Comparable in focus on conventional and unconventional onshore gas exploration and proximity-to-infrastructure commercial models.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights6 records
Customer concentration
Discovery Energy social profiles
Digital presenceDiscovery Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Discovery Energy leadership team
Management profileNumber of profiles
Profiles4 records
Discovery Energy subsidiaries and ownership
Company hierarchySubsidiaries1 record
Discovery Energy funding detail
Funding detailFunding overview
Funding rounds6 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Discovery Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Discovery Energy
What does Discovery Energy do?
Discovery Energy engages in the exploration, development, production and acquisition of conventional and unconventional natural gas, oil and energy projects, with its primary asset being the PEL 512 Petroleum Exploration License covering 584,651 acres (2,369 km²) on the Western Margin of Australia's Cooper/Eromanga basins. The company is currently in the exploration stage, leveraging proprietary 3D seismic surveys (Nike 3D and Adidas 3D) to identify drill targets, and intends to commercialize any discoveries via existing pipeline infrastructure tied to the Moomba central processing plant.
Is Discovery Energy a public or private company?
Discovery Energy is a public company. It is classified as public and is currently operating.
When was Discovery Energy founded?
Discovery Energy was founded in 2012. It employs 1 to 10 people.
Where is Discovery Energy based?
Discovery Energy is headquartered in Houston, United States, in the North America region.
How does Discovery Energy make money?
One revenue line is on record: oil and Gas Exploration and Production.
Who are Discovery Energy's main competitors?
Direct peers on record are Carnarvon Petroleum, Blue Energy, Galilee Energy, Beach Energy, Santos, Cooper Energy, Senex Energy, Central Petroleum, Buru Energy and Strike Energy.
Does Discovery Energy have an API?
No public API is recorded for Discovery Energy.
What industry is Discovery Energy in?
Discovery Energy's product category is Upstream Oil and Gas Exploration. Its primary akta.pro industry code is EUAAAAAG, Onshore Natural Gas E&P (Conventional Fields), with a secondary code of EUAAAAAC, Unconventional Gas E&P (Shale/Tight Gas). Its NAICS code is 211 and its SIC code is 1311.