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Energy

Neil reflects on the power behind MinRes' exploration success

Neil Thompson’s career in the oil and gas industry spans more than 40 years, but some of the most exciting and fulfilling experiences have come in the past few years with Mineral Resources (MinRes).

Published on 08 April 2025

Neil Thompson
Neil Thompson

MinRes’ Energy division pursues low-cost, reliable and cleaner fuel sources needed to reduce emissions and support the company’s growth.

The company considers cleaner energy critical to the sustainability of the resources industry and the community and continues to pursue opportunities to reduce emissions across its operations.

Through ongoing activities in Western Australia’s onshore Perth and Carnarvon basins, MinRes seeks conventional gas and geothermal energy solutions that support long-term business growth and the continued improvement of the company’s sustainability performance.

As MinRes General Manager Exploration and Drilling, Neil leads the company’s gas exploration program which from humble beginnings has expanded to deliver complex drilling campaigns and several significant onshore discoveries.

A graduate of the University of Western Australia with a degree in geology, Neil’s career began in 1985 and developed over 30 years in various geological roles. His more recent experience spans more than a decade in energy, oil and gas senior management exploration and development positions.

In 2018, he joined MinRes to drive the company’s gas exploration program and reflected on the challenges that came with initially being a one-person team.

“It was just me initially, but within the first year I was on staff as Exploration Manager and the team had grown to four working in the Lockyer and Red Gully areas,” he said.

“Our initial focus was on deep gas drilling plans, but we also needed to get a large 3D seismic program approved across exploration permit (EP) 368 and EP 426 in the onshore Perth Basin.”

“All of this work contributed to an innovative 384km2 Rococo 3D seismic survey, the major gas discovery at Lockyer Deep-1 (LD-1) in 2021 and eventually both gas and oil discoveries at North Erregulla Deep-1 (NED-1) in 2023,” Neil said.

“These were the first major discoveries in the area in more than 55 years.”

Mineral Resources Image
Neil and team at NED-1

Neil and the team continued to unlock more success for MinRes, including at Lockyer-5 and North Erregulla-2, leading to the company’s 2024 announcement of its maiden Resource for Perth Basin gas and oil discoveries.

The conventional gas resources in LD-1 and NED-1 – defined as Lockyer Gas Project – proved to be one of the largest onshore gas discoveries in Western Australia which with future exploration success could total more than one trillion cubic feet of gas.

In October 2024, success at the Lockyer Gas Project culminated in MinRes entering a $1.1 billion binding agreement with Hancock Prospecting – a deal which maximised the value of the company's exploration success for shareholders and highlighted an ability to unlock significant capital from its asset portfolio.

Under the terms of the agreement, MinRes sold 100% of its interests in the EPs 368 and EP 426 to Hancock and the companies formed two joint venture agreements over MinRes’ remaining onshore Perth Basin and Carnarvon Basin exploration acreage.

Fresh off success in the Perth Basin, today Neil leads a 55-strong team within the MinRes Exploration and Drilling portfolio – including an expert team responsible for operating Australia’s biggest super single onshore rig, MinRes Explorer.

Reflecting on his career to date and MinRes’ gas exploration success, Neil emphasised the importance of identifying potential where others aren't looking – both in resources and people.

“Teamwork is essential and building an exploration team with highly skilled and highly enthusiastic people is important,” Neil said.

“You must believe it’s all possible. Balance risk and uncertainty, but rarely be risk averse and stay positive.”

“I’m passionate about the industry in WA because it’s a big, never ending jigsaw puzzle that’s critical to our economy and way of life. What we’re doing here is world class.”

MinRes Chief Executive Energy Darren Hardy said Neil’s vision and intuition have been instrumental in unlocking the potential of the company’s exploration efforts.

“Neil’s unique perspective challenged our team to see opportunities where others did not, leading to the incredible success of the very significant Lockyer, Erregulla and Moriary oil and gas discoveries,” Darren said.

“Several companies held this acreage before us over many decades, but none enjoyed the success we’ve had. This speaks volumes to Neil’s leadership and his ability to guide us through complex challenges with a positive mindset.

“Neil constantly challenges his team to look at opportunities through his distinct lens, unlocking potential that others might overlook, which has been critical in achieving the unprecedented success of the Lockyer Project.”

While MinRes’ gas exploration program unlocked opportunities and value for the company and shareholders, the program continues in the Perth and Carnarvon basins in partnership with Hancock.

Ongoing activities support a shared pursuit of lower-cost and more sustainable energy solutions.

Learn more MinRes’ Energy division.

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