On the 4 August 2022, the Senate agreed to the committee's recommendation that this inquiry be re-adopted in the 47th Parliament for inquiry and report by 14 February 2023 with the following term of reference:

Oil and gas exploration and production in the Beetaloo Basin, with particular reference to the Industry Research and Development (Beetaloo Cooperative Drilling Program) Instrument 2021, which provides public money for oil and gas corporations.

All correspondence and evidence previously received for this inquiry has been made available to the new committee. This means that submissions already provided to the committee about this issue do not need to be re-submitted. The committee intends to refer to the evidence received during the 46th Parliament.

The closing date for submissions is 31 August 2022.

On 9 February 2023, the committee was granted an extension of time for the report until 21 March 2023.

On 21 March 2023, the committee was granted an extension of time for the report until 29 March 2023.

On 28 March 2023, the committee was granted an extension of time for the report until 13 April 2023.

On 13 April 2023, the committee presented a progress report that recommended an extension of time to report until 19 April 2023.