PERTH (miningweekly.com) – ASX-listed Senex Energy has reported a 21% increase in the Surat basin 2P gas reserves, which are now estimated at 739 PJ, following the successful delivery of the company’s natural gas developments in the region.
“The 2020 financial year was a year focused on successful execution of our A$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 Senex MD and CEO Ian Davies.
Appraisal and development drilling at Atlas have driven a 62%, or 90 PJ, increase in 2P gas reserves to 234 PJ, while continued Roma North production outperformance has driven a 10%, or 25 PJ, increase in 2P gas reserves to 283 PJ.
“With gas processing infrastructure established and a growing reserve 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,” said Davies.