Senex Energy has reported a 278 per cent increase in Surat Basin gas production in the past financial year and significant growth in its gas reserves.
Full year FY20 production across the board, including Cooper and Surat basin assets, was up 73 per cent to 2.1 mmboe.
“Financial year 2020 was a year of focused and successful execution of our $400 million Surat Basin gas developments, which delivered outstanding
project delivery performance and continued gas production outperformance,” Senex managing director and chief executive officer Ian Davies said.
“In less than two years since the Final Investment Decision was taken, we have successfully developed these critical gas resources for the domestic market, including delivery of first gas from Atlas in record time
for a coal seam gas project in Queensland.
“Excellent drilling results and continued production outperformance contributed to a 108 per cent increase in 1P Surat Basin gas reserves to 210 petajoules, and a 21 per cent increase in 2P reserves to 739 petajoules.”
Senex Energy marked successful completion of its $400 million Surat Basin natural gas development last month.
The project saw Senex and infrastructure partner Jemena build and commission facilities at Roma North and Atlas with gas processing capacity of more than 20 petajoules (PJ) a year.
At Roma North, contracts have been agreed for Jemena to procure long-lead items, including compression equipment, for work on a 24 TJ/day expansion project.
“With gas processing infrastructure established and a growing reserves base, Senex has now successfully delivered on the foundations to achieve continued growth in production, earnings and cashflow from its
valuable east coast Surat Basin natural gas position,” Mr Davies said.
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