Senex is an oil and gas business with solid foundations.
It is focused on growth in three areas:
- Oil in the Cooper-Eromanga Basin
- Gas in the Cooper-Eromanga Basin
- Coal seam gas in the Surat Basin
Oil in the Cooper-Eromanga Basin
Senex has a strong acreage position and operatorship over all its major assets in South Australia's Cooper-Eromanga Basin. The company produces over 1 million barrels of oil per year and is delivering a Growth Acceleration Strategy with targets for increased oil reserves and production to 2018.
Gas in the Cooper-Eromanga Basin
Senex commenced gas production and sales from its Hornet gas field in the Cooper Basin in 2014.
The company has a commanding position in some of the Cooper-Eromanga Basin's most prospective areas for unconventional gas.
Senex's unconventional gas acreage includes:
- Shales: Thick, mature Roseneath and Murteree shales
- Coals: Thick, mature Toolachee coals and thick Patchawarra coals
- Tight sand and coal sequences: Thick Toolachee sand and coal sequences
In early 2014 Senex announced two farm-out agreements with Origin Energy for unconventional gas exploration in the Cooper Basin. The first stage involves a $105 million work program across two areas for which Senex is free-carried.
Coal seam gas in the Surat Basin
Senex holds strategically located coal seam gas tenements in Queensland's Surat Basin. In 2014 the company expanded its portfolio in the region with an asset swap with the QGC JV which forms the basis of the company's Western Surat Gas Project. Senex tenements are located close to existing infrastructure and the company is in the early stages of appraisal of this acreage.