Senex reports Surat reserve increase

An independently assessed estimate of reserves and contingent resources as at 30 June 2020 has shown the increase follows the completion of Senex’s Surat Basin natural gas developments.

Appraisal and development drilling results at Atlas have driven a 62 per cent increase in 2P reserves to 234 PJ, while continued Roma North production outperformance has resulted in a 10 per cent increase to 283 PJ.

Daily production has increased from ~7 TJ per day to exceeding 37 TJ per day, which is rapidly approaching Senex’s initial production target of 48 TJ per day.

Senex Managing Director and CEO Ian Davies said the major Surat Basin reserves upgrades follows the successful delivery of Senex’s transformational natural gas developments.

“FY20 was a year focused on successful execution of our $400 million Surat Basin developments, which delivered outstanding project delivery performance, continued gas production outperformance, and now material upgrades in booked natural gas reserves,” said Mr Davies.

“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.”

For more information visit the Senex Energy website.

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