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Senex secures Atlas lease

The Queensland Government has granted a Petroleum Lease to Senex Energy to develop Project Atlas in Queensland’s Surat Basin.

Senex was awarded the permit in September 2017; with the government granting preliminary environmental approvals in addition to the lease, it will develop Project Atlas – a high quality coal gas seam permit – and contribute to domestic gas supply.

The lease will allow the Senex to commence preliminary activities for development of the approximately 100 wells and associated infrastructure on the project, which contains P50 recoverable gas volumes of an estimated 201 PJ with sustainable production rates of more than 30 TJ/d.

“We are in detailed discussions with parties to provide gas processing infrastructure, have materially progressed financing discussions with prospective lenders, and look forward to engaging with domestic gas customers in the near term,” said Senex Managing Director and CEO Ian Davies.

“The direct award of a Petroleum Lease for Project Atlas is an innovative solution by the Queensland Government to help address the shortage of new East Coast gas supply.”

Remaining State and Commonwealth approvals are expected to be received in mid-2019, with first gas targeted to be supplied to the domestic market in late 2019.

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