Santos has clocked up 50 years of gas production in Roma on the same day the rural Queensland town is bracing for a flood threat.
In April 1961, Queensland Governor Sir Henry Abel Smith turned on the gas supply at the Roma powerhouse.
It was the first time in Australia that natural gas had been used to fuel electricity generation.
Santos spokesman Richard Holliday said the company has cancelled a celebratory function for staff, community leaders and landholders in Roma for Tuesday night.
"We didn't want to impose upon anyone in Roma at the moment given what they are experiencing," he said.
He said the mining company was still waiting to see how the floods would affect their operations.
"It's a moving beast at the moment with the rain and the water coming down from the inland waterways," he said.
He said Santos sites near Roma have been closing down over recent days because flood water has cut access to some dirt roads.
"The gas is coming out the ground and being transported down pipelines to our customers. The delay is in the operations of the business, not necessarily the revenue stream," he said.
Mr Holliday said Santos had put in a call to the Maranoa Regional mayor to offer assistance.
About 280 properties are at risk of inundation when the Bungil Creek peaks at an equal record level set only last year.
Bungil creek, which runs through the town, had been expected to peak at 7.5 metres but it's now expected to reach 8.1m by late afternoon, the Bureau of Meteorology says.