PERTH (miningweekly.com) – ASX-listed Senex Energy has reported a 16% increase in production and a 26% increase in sales revenue for the quarter ended December, as the ramp-up of its Atlas operation, in the Surat basin, continues.
Quarterly production reached 4.3 PJ during the three months to December, up 16% on the September quarter, and 225% on the previous corresponding quarter.
Sales revenue for the December quarter was reported at A$27.9-million, which was a 26% increase on the September quarter, with the increased revenue ascribed to both the higher production volumes and improved pricing for oil-linked Roma North natural gas production.
“Senex has achieved a significant milestone with natural gas production reaching 50 TJ/d, or more than 18 PJ/y, equivalent to around 10% of Queensland’s natural gas demand,” said Senex MD and CEO Ian Davies.
“This milestone follows another impressive quarter of production and sales revenue growth, the sale of our Cooper basin business to Beach Energy for A$87.5-million, and the signing of additional domestic gas customer contracts.
“Looking forward, we continue to aggressively pursue the development of our low-risk, high-return organic growth opportunities as we progress towards our 2025 annual production target of 60 PJ/y.
“Our Roma North expansion to 24 TJ/d is on track to be on line by the first quarter of the 2022 financial year, with further production expansions totaling an additional 15 PJ/y at Roma North and Atlas both within the front-end engineering design phase,” said Davies.