QPM Energy reports maiden profit, advances Isaac energy hub

QPM Energy Ltd (ASX:QPM) announced its FY2025 full-year financial results, reporting a maiden profit after income tax of $8.2 million. Group revenue increased by 12.6% to $120.1 million, with electricity revenue up 32.5% to $53 million. The company's MGP field operations achieved zero loss time injuries and environmental incidents, supplying 9.4PJ of gas and reducing unit costs by 6.2% to $4.86/GJ. Capital programs, including a seven-well drilling campaign, were completed, and independently certified 2P reserves increased from 331PJ to 435PJ.

Electricity generation saw ~220,000MWh dispatched from the Townsville and Moranbah Power Stations, with the Moranbah Power Station acquisition increasing generation capacity and reducing costs. A feasibility study for the 112MW Isaac Power Station (IPS) confirmed attractive economics, leading to the procurement of two GE Vernova LM6000 gas turbines. The IPS aims to be Queensland’s lowest-cost gas-powered generation.

QPM aims to manage a portfolio of 500MW of electricity generation capacity, with over 80% of future revenues expected from electricity generation and sales. The company is targeting FID Q4 2025 for IPS commissioning mid-2027 and foresees significant revenue growth from planned dispatch BESS and existing capacity.