Senex production increases in Sept quarter

19th October 2021 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH ( – ASX-listed Senex Energy has reported a 6% increase in production during the three months to September.

Production during the September quarter grew to 5 PJ, driven by commissioning of the Roma North Stage 1b expansion, and the Atlas project achieving nameplate production of 32 TJ/d.

Sales revenue of A$35.4-million was 9% higher than the prior quarter owing to the increased sales volumes highlighted above and a 7% increase in the Australian dollar gas price for the portfolio. Net sales revenue increased by 2%, to A$33-million.

“Senex has delivered a strong quarter of operational and financial performance as we advance towards our production growth target of 60 PJe by year-end FY25,” said CEO and MD Ian Davies on Tuesday.

“Production increased 6% for the quarter and in doing so recording our nineteenth consecutive quarter of Surat basin production growth. And we continue to execute our disciplined expansion strategy at both Roma North and Atlas, with a large natural gas reserves position and utilising our proven hub-and-spoke infrastructure operating model, to deliver affordable and reliable volumes of natural gas to our customers and into a tightening east coast gas market.

“Following the end of the quarter, we were proud to release our Decarbonisation Action Plan that details our ambition, targets and actions to reduce greenhouse-gas emissions across our operational footprint to net zero by 2040.

“Natural gas is integral to meeting demand for affordable and reliable energy and we are focused on being the natural gas supplier of choice through the transition.

“The strong quarter and robust growth reflect Senex’s commitment to providing sustainable natural gas that helps Australian industry as it transitions to a low-carbon future,” Davies said.

Senex earlier this week revealed that it was in takeover talks with POSCO International Corporation, which had made a A$4.40-a-share cash offer for Senex. The company has provided POSCO with additional time to complete a due diligence, and to assess a higher offer price.