3 Australian Energy Stocks To Watch In October 2026

The International Monetary Fund recently highlighted how high energy costs and conflict related trade risks are straining many countries, which keeps global focus squarely on reliable oil and gas supply. That spotlight creates urgency for investors looking at large international oil and gas producers. This article walks through three leading options from the Australian focused oil and gas screener and explains what each could offer a long term portfolio.

The three stocks covered next are a sample from the broader opportunity set, with the full screen surfacing 19 more oil and gas producers worldwide that carry similarly detailed investment stories and are not covered in this article. To see the complete results and quickly identify your own highest conviction ideas, head straight to the Oil and Gas screener.

Tamboran Resources (ASX:TBN)

Overview: Tamboran Resources is an Australian natural gas developer focused on unconventional Beetaloo Basin acreage that targets onshore domestic gas supply.

Market Cap: A$1.6 billion

Tamboran Resources matters in this Oil and Gas screen because it links a large onshore Beetaloo gas position directly to domestic energy security concerns.

"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 long term contracted volumes meet one unresolved funding pressure could heavily influence future pricing power and project level margins.

That funding puzzle is exactly what the full narrative for Tamboran Resources unpacks, showing how capital options, partner terms and timing could reshape Tamboran Resources’ risk reward profile.

Woodside Energy Group (ASX:WDS)

Overview: Woodside Energy Group is a global oil and gas producer, with LNG exports from projects like Pluto and North West Shelf central to its business.

Operations: Woodside generates about US$7.3b from Australia, US$4.6b from International operations and US$1.9b from Marketing activities.

Market Cap: A$63.0b

Woodside Energy Group matters in this Oil and Gas screen because its LNG hubs and FPSO assets give direct exposure to large scale hydrocarbon exports.

"Confidence in LNG's role as a "transition fuel" may be overextended. Forward multiples reflect a belief that natural gas will retain a central place in energy mixes for decades, but acceleration in renewables, alternative molecules (like green hydrogen), and stricter environmental regulations could erode LNG's market share faster than forecast, pressuring long-term revenue and margin assumptions."

The real test for Woodside will come if a single pressure on cash generation shifts, just as its LNG project build cycle peaks.

When that pressure hits, read the full narrative for Woodside Energy Group to see how Woodside Energy Group could still turn LNG volatility into accelerating optionality for long term holders.

Beach Energy (ASX:BPT)

Overview: Beach Energy is an Adelaide based oil and gas producer that develops and operates onshore and offshore fields across Australia and New Zealand.

Operations: Beach Energy generates A$1.9b from exploration, development and production of hydrocarbons, with Victoria, South Australia and Western Australia key regions.

Market Cap: A$2.0b

Beach Energy matters for the Oil and Gas screener because its producing fields and development projects tie directly into regional fuel security and LNG exposure.

"The ramp-up and commissioning of the Waitsia Gas Project, positioning Beach Energy as a leading LNG exporter, is expected to significantly boost export volumes and enable higher realized pricing via exposure to international LNG markets. This is expected to provide a structural uplift to revenue and EBITDA margins starting late FY'26 and beyond."

What happens when that uplift runs into one less visible constraint could decide how much of the upside actually reaches shareholders.

If that constraint is what worries you, read the full narrative for Beach Energy to see how Beach Energy could still convert commissioning momentum into accelerating long term value.

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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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