Top 10 ASX energy stocks to watch in 2026

The ASX energy sector stretches well beyond oil and gas – it takes in coal mining, uranium production, fuel retailing and integrated electricity and gas businesses. This list reflects that range, with oil and gas names like Woodside Energy Group ($WDS) sitting alongside uranium producers Paladin Energy ($PDN) and Boss Energy ($BOE).

How we built this list: We selected these companies based on their industry and ordered them by market capitalisation. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in A$. Data updated as of 10 August 2026.

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1. Woodside Energy Group ($WDS)

Woodside Energy Group (WDS) share price over the last year: started at A$27.02, ended at A$31.79, a change of +17.7%. Range over the period: high A$35.80, low A$22.10. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $31.79 · Daily: -0.3% · Market cap: $60.44B · Sector: Energy · Industry: Oil & Gas

Woodside Energy Group ($WDS) centres on liquefied natural gas (LNG), running exploration, development and production across Australian and international operations. The Australian side includes the Pluto LNG facility, the North West Shelf Project and the Scarborough Energy Project. A dedicated marketing segment handles the shipping and trading of that output across the company's oil and gas portfolio.

Internationally, $WDS holds an interest in Woodside Louisiana LNG, an LNG export terminal under construction at Lake Charles, Louisiana. The Sangomar oil and gas field, about 100 kilometres south of Dakar, adds crude oil production to the mix. Liz Westcott leads the company's 4,693 employees.

2. Santos Limited ($STO)

Santos Limited (STO) share price over the last year: started at A$7.93, ended at A$7.65, a change of −3.5%. Range over the period: high A$8.24, low A$5.92. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $7.65 · Daily: -0.1% · Market cap: $24.85B · Sector: Energy · Industry: Oil & Gas

Santos Limited ($STO) produces and sells oil, natural gas and liquefied natural gas (LNG) across Australia, Papua New Guinea, Timor-Leste and the United States. Its domestic gas operations supply retailers and industrial customers, while the LNG side ships to buyers across Asia. The Cooper Basin – covering parts of South Australia and Queensland – produces natural gas, gas liquids and crude oil from what the company describes as a long-running integrated asset.

The GLNG project in Queensland exports LNG to global markets through an LNG plant at Gladstone. Alongside those production assets, $STO runs midstream infrastructure and is developing carbon capture and storage technology, which the company includes under its energy solutions activities. CEO Kevin Gallagher oversees a workforce of 4,028 employees across those operations.

3. Origin Energy Limited ($ORG)

Origin Energy Limited (ORG) share price over the last year: started at A$12.02, ended at A$10.80, a change of −10.1%. Range over the period: high A$13.07, low A$10.15. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $10.80 · Daily: -0.2% · Market cap: $18.61B · Sector: Utilities · Industry: Electric & IPPs

Origin Energy Limited ($ORG) sits across a broad stretch of the energy supply chain. It produces natural gas, generates electricity, and sells both electricity and gas directly to Australian customers.

The Integrated Gas segment centres on the Australia Pacific LNG project and includes commodity hedging and trading. $ORG also holds a stake in Octopus Energy Group, which operates as a separate segment from its core Australian retail and generation businesses.

4. Ampol Limited ($ALD)

Ampol Limited (ALD) share price over the last year: started at A$27.24, ended at A$38.50, a change of +41.3%. Range over the period: high A$39.93, low A$27.07. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $38.50 · Daily: -0.7% · Market cap: $9.17B · Sector: Energy · Industry: Oil & Gas

Ampol Limited ($ALD) sits at the meeting point of fuel supply and everyday convenience. The company refines, imports and markets fuels and lubricants, and operates a retail network of over 1,800 branded sites across Australia. Around three million customers pass through those sites each week, picking up fuel and convenience products.

$ALD also supplies fuel to roughly 80,000 commercial customers across sectors like mining, defence, aviation and agriculture, backed by 16 terminals, six pipelines and 55 wet depots. The company has also moved into electric vehicle charging at selected locations, alongside home electricity solutions. Its one refinery sits at Lytton in Queensland.

5. Whitehaven Coal Limited ($WHC)

Whitehaven Coal Limited (WHC) share price over the last year: started at A$7.24, ended at A$7.49, a change of +3.5%. Range over the period: high A$9.84, low A$6.10. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $7.49 · Daily: 2.3% · Market cap: $6.16B · Sector: Energy · Industry: Coal

Whitehaven Coal Limited ($WHC) runs six coal mines across two of Australia's major coal regions – the Gunnedah Coal Basin in New South Wales and the Bowen Basin in Queensland. Five of those mines are open-cut operations; the sixth is the Narrabri underground mine. The portfolio includes some well-known names: Maules Creek, Blackwater, Daunia and several others, with the Tarrawonga operation producing both thermal coal and semi-soft coking coal.

Under chief executive Paul Flynn, $WHC employs around 6,444 people and has two development projects in the pipeline. The Vickery Extension Project would add a new open-cut mine about 25 kilometres north of Gunnedah, while Winchester South is a further growth option in Queensland. As a pure-play coal producer, $WHC's fortunes are closely tied to coal prices and demand from the markets it sells into.

6. Paladin Energy ($PDN)

Paladin Energy (PDN) share price over the last year: started at A$6.61, ended at A$10.38, a change of +57.0%. Range over the period: high A$14.54, low A$6.34. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $10.38 · Daily: 2.3% · Market cap: $4.66B · Sector: Energy · Industry: Uranium

Paladin Energy ($PDN) is a uranium producer whose main asset is the Langer Heinrich Mine in central western Namibia – a large-scale operation the company holds a 75% stake in. The mine sits roughly 80 kilometres east of Swakopmund and has direct access to the Walvis Bay deepwater harbour, which matters for getting product to market.

$PDN also holds a development pipeline across Canada and Australia. That includes the Patterson Lake South project in Canada, which hosts the Triple R deposit – a near-surface uranium deposit the company describes as high-grade. Exploration assets such as West Cluff, Larocque and Michelin add further optionality to the portfolio. The company employs 469 people and is led by chief executive Paul Hemburrow.

7. Beach Energy Limited ($BPT)

Beach Energy Limited (BPT) share price over the last year: started at A$1.33, ended at A$0.83, a change of −37.7%. Range over the period: high A$1.33, low A$0.83. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $0.83 · Daily: -4.6% · Market cap: $1.88B · Sector: Energy · Industry: Oil & Gas

Beach Energy Limited ($BPT) is an oil and gas exploration and production company with operations spread across South Australia, Victoria, Western Australia and New Zealand. Its Cooper/Eromanga Basin and Otway Basin assets in South Australia form a core part of the portfolio, while the Perth Basin in Western Australia includes the Waitsia project, operated by Mitsui E&P Australia, and the Beharra Springs project, which $BPT operates directly.

The company also holds roughly a third ownership interest in the Moomba Carbon Capture & Storage project in South Australia, with Santos as the operating partner. On the other side of the Tasman, $BPT produces from the Taranaki Basin along the west coast of New Zealand's North Island. Around 455 employees run the business, which is led by chief executive Brett Woods.

8. Tamboran Resources ($TBN)

Tamboran Resources (TBN) share price over the last year: started at A$0.17, ended at A$0.25, a change of +44.1%. Range over the period: high A$0.34, low A$0.16. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $0.25 · Daily: 6.5% · Market cap: $1.77B · Sector: Energy · Industry: Oil & Gas

Tamboran Resources Corporation ($TBN) is focused entirely on natural gas exploration and production in the Beetaloo Basin, a sedimentary formation in the Northern Territory. The company holds approximately 2.8 million net prospective acres across a collection of tenements – including the Orion Area, Beetaloo Central Development Area and several pilot zones – all concentrated in that single basin.

Under chief executive Todd Abbott, the company runs a lean operation of just 46 employees as it works to prove up the commercial potential of its acreage. That early-stage character means $TBN carries the profile of an exploration-focused business rather than a producing one, with the Beetaloo Basin's development timeline central to its trajectory.

9. Karoon Energy ($KAR)

Karoon Energy (KAR) share price over the last year: started at A$1.96, ended at A$1.65, a change of −15.9%. Range over the period: high A$2.24, low A$1.26. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $1.65 · Daily: -0.6% · Market cap: $1.16B · Sector: Energy · Industry: Oil & Gas

Karoon Energy ($KAR) produces oil and gas from two corners of the world: the Santos Basin off Brazil and the Gulf of Mexico in the U.S. Its Brazilian operations centre on the Bauna Project, which it owns and operates outright across three oil fields – Bauna, Piracaba and Patola – in the southern Santos Basin. Two further wholly-owned oil fields, Neon and Goia, sit within reach of the Bauna hub, and $KAR holds six additional exploration blocks in the same basin.

In the Gulf of Mexico, the Who Dat assets add a second producing hub, covering the Who Dat, Dome Patrol and Abilene oil and gas fields along with their associated infrastructure. CEO Carri Lockhart leads the company from its Australian base, though the business itself runs almost entirely offshore Brazil and the U.S. Gulf. That combination of producing assets in two active hydrocarbon basins gives $KAR a production profile tied closely to oil prices, which is worth keeping in mind alongside the operational risks that come with deep-water offshore production.

10. Boss Energy ($BOE)

Boss Energy (BOE) share price over the last year: started at A$1.77, ended at A$1.41, a change of −20.3%. Range over the period: high A$2.12, low A$1.01. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $1.41 · Daily: 5.6% · Market cap: $585.4M · Sector: Energy · Industry: Uranium

Boss Energy ($BOE) is a uranium producer with its primary asset at the Honeymoon Uranium Project in South Australia, roughly 80km northwest of Broken Hill. The project covers a tenement package of 2,595 square kilometres, split across Eastern and Western exploration areas alongside five Exploration Leases that extend to prospects at Gould's Dam. CEO Matt Dusci oversees two operating segments: the South Australian uranium business and a stake in the Alta Mesa Project in South Texas.

Alta Mesa is a 30%-owned In-Situ Recovery (ISR) uranium project, a method that extracts uranium from the ore body underground rather than through conventional open-cut or underground mining. The South Texas district where Alta Mesa sits has a long production history, with around 80 million pounds of uranium recovered historically from sandstone-hosted ISR operations. That combination of a domestic South Australian project and a partial interest in a U.S. operation gives $BOE exposure to two distinct uranium-producing regions.

Common questions

How do I invest in ASX energy stocks in Australia?

Every company in this list trades on the ASX, so shares can be bought through any brokerage platform with ASX access. The direct route is buying shares in individual companies. Some ASX-listed ETFs also cover the Australian energy sector and can provide spread across multiple companies, though their constituent mixes vary by fund – it's worth checking a fund's holdings before assuming it reflects this kind of range.

What are the key risks of ASX energy stocks?

Commodity prices are the most direct source of volatility – oil, gas, coal and uranium prices can shift sharply on supply changes and geopolitical events, and company revenues tend to move with them. For companies selling into export markets, AUD/USD movements add another layer, since most energy commodities are priced in USD while these companies report in Australian dollars. Regulatory and resource policy can reshape project economics, particularly for coal, uranium and unconventional gas. Exploration and development-stage companies carry project-specific risk too: timelines can slip and capital costs can exceed original estimates before a single barrel or pound is produced.

What kinds of energy businesses does this list cover?

The ten companies span several distinct business types, with meaningfully different revenue drivers and risk profiles as a result. Most are oil and gas producers, exploring and developing hydrocarbon assets across Australia and offshore. Two focus on uranium production for the nuclear fuel market, while one is a coal miner with open-cut and underground operations across New South Wales and Queensland. $ALD operates as a fuel refiner and retailer, supplying transport fuels to commercial and retail customers – a different revenue model to upstream commodity producers. $ORG combines energy retailing with upstream gas production and also holds a stake in Octopus Energy.

Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

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