Whitebark Energy taps insider as new CEO for growth push
- Doug Bright
- 3 minutes ago
- 3 min read
Whitebark Energy Limited (ASX: WBE) has appointed its chief operating officer, Nik Sykiotis, as chief executive officer, effective immediately, positioning the company to capitalise on its diverse portfolio spanning natural hydrogen, helium and conventional hydrocarbons.
Sykiotis, who has driven operational efficiency and strategic execution in previous roles, brings over 15 years of upstream oil and gas expertise from major players, including Chevron, Beach Energy, and Warrego Energy.
His track record spans exploration and development across onshore and offshore basins in Australia and internationally. A University of Western Australia graduate, he holds a Bachelor of Commerce (Hons)/Science, a Bachelor of Science degree with honours and a Master of Business Administration from the University of Western Australia.
The internal promotion comes at a pivotal time for Whitebark, which is focused on de-risking of its flagship Warro Gas Field in Western Australia’s Perth Basin – a 7,000-hectare asset, primed for the tightening domestic gas market and just 30km from the Dampier-to-Bunbury pipeline.
In late November, following a $2 million capital raising, Whitebark launched four high-impact studies to re-evaluate Warro’s legacy dataset.
The Board is delighted to appoint Nik as CEO. He brings a strong operational background with proven leadership capability and is well suited to lead the business through its next phase of growth. We look forward to working closely with Nik as the Company continues to execute its strategy.
Whitebark Energy Chairman Mark Lindh
Internationally renowned RISC Advisory is leading the commerciality assessment, drawing on its Perth Basin expertise to model economic pathways. Meanwhile, geological specialist Imagestrat is reviewing borehole image logs from Warro-3 to map fractures and water pathways, informing future well designs.
A deeper structural review using existing 3D seismic is also underway, alongside production data integration and transient analysis to optimise stimulation and confirm dry-gas zones identified in recent petrophysical work by expert Steve Adams.
Previous operators have invested over $100 million in seismic and four wells, yielding between 1 and 2 million standard cubic feet per day (MMscf/d) in test flows, despite sub-optimal well completions.
With modern technology, regulatory green lights for fracturing and targeted recompletions, Warro could emerge as a high-value onshore producer.
Whitebark’s broader strategy balances near-term gas cash flow with frontier plays. It holds interests in the massive Alinya Project in South Australia – one of Australia’s largest natural hydrogen and helium prospects covering about 20,000 square kilometres. The grounds were first picked up through a 2025 scrip deal for private company, King Energy, complete with a further capital raising.
Alinya covers multiple permits in the Officer Basin, in the heart of the Great Victoria Desert, about 1000km north of Adelaide and about 300km northwest of Moomba, Santos’ big gas hub, giving future production sweet tie-in potential.
With WA’s gas crunch looming - driven by several interconnected factors including declining reserves and production, export priorities, rising demand and price surges that have doubled since 2019 - and global demand surging for hydrogen and helium, Sykiotis’ appointment appears to signal Whitebark’s readiness to unlock Warro’s potential and scale its multi-asset portfolio.
Near-term study results could fast-track first gas, potentially cementing the company’s role as a new player in Australia’s energy mix.
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