Oil and Gas News

Senex hits record Surat production

Surat Basin

Senex has seen continued strong operation performance, delivering its 20th consecutive quarter of record Surat Basin production, up 5 per cent from last quarter. 

Total sales volumes were 3 per cent higher than the previous quarter, reflecting increased sales from production due to rates at Roma North and Atlas, and reduced third-party gas purchases. 

At Atlas, Stage 2 developments are now underway, while the acquisition of Australia Pacific LNG’s (APLNG) two adjacent undeveloped fields are expected to underpin production expansion to 30 PJ/year in 2024. 

“The acquisition of undeveloped gas fields PL 209 and PL 445 from APLNG supports our growth trajectory in the Surat Basin,” said managing director and chief executive Ian Davies. 

Senex released its Decarbonisation Action Plan and first standalone sustainability report in the last quarter, as the company stated it prioritises performance as well as a commitment to reduced greenhouse gas emissions. 

“All these achievements reflect our commitment to providing reliable, affordable and sustainable natural gas that helps Australian industry as it transitions to a low-carbon future,” Davies said. 

Senex signed a domestic gas sales agreement with Shell Energy for the supply of 8 PJ of natural gas over four years, which became effective at the start of 2022. 

In the last quarter, Senex also entered into a binding scheme implementation agreement with POSCO International on 13 December, whereby all of Senex’s shares will be acquired for a cash offer price of $4.60 per share.

Click here to view Senex’s full quarterly report. 

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