Senex adjusts production, sets more gas for domestic market
PERTH (miningweekly.com) – ASX-listed Senex Energy on Tuesday said that it has reached an agreement with Gladstone Liquefied Natural Gas (GLNG) to redirect around 1 PJ of natural gas from the Roma North project to the domestic market.
Senex told shareholders that the company would market the natural gas, along with higher than expected production volumes from the Atlas project, to east coast gas customers as part of its supply portfolio.
“In October 2018, Senex reached the final investment decision for our A$400-million capital programme in the Surat basin. Less than two years later, the transformational Roma North and Atlas natural gas development projects have established Senex as an important producer of gas for the east coast market,” said MD and CEO Ian Davies.
“Today, together with our infrastructure partner Jamena, Senex has successfully constructed 56 TJ/d of gas processing capacity, drilled 78 wells of the 80-well campaign, built a portfolio of high quality domestic gas customers, and seen gas production increase rapidly to a current rate of more than 34 PJ/d.”
Following the strong production performance across the company’s Surat basin assets, and assuming continued normal operations given the current pandemic, Senex has increased its full year production guidance to between 2-million and 2.1-million barrels of oil equivalent, up from the previous estimate of 1.8-million to 2-million barrels.
The company has also increased its full year earnings before interest, taxes, depreciation and amortization guidance to between A$45-million and A$50-million, up from the previous estimate of between A$40-million and A$50-million.
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