Strategic rationale: high margin core business with scalability and material upside potential.
We produce around 1 million barrels of oil annually (net) from more than 10 Senex-operated oil fields.
Senex holds an extensive acreage position across the South Australian and Queensland Cooper Basin, with around 15,000 square kilometres considered prospective for conventional and unconventional (tight) oil. The Cooper Basin is regarded as a low cost producing region and is under-developed by world standards.
Our interests include the established western flank of the Cooper Basin, as well as north, south and east of the Moomba processing and transportation hub.
In collaboration with a number of joint venture partners, Senex is pursuing exploration, appraisal and development opportunities to grow its oil business.
- Tight oil: Senex has progressed its evaluation of the tight oil potential in the Murta Formation. In January 2016, Senex announced that it had agreed with oil field services leader Halliburton to progress the project with an initial $3 million pilot program. The program was executed successfully in Q3 FY16 and Senex is currently evaluating the test results and seeking to undertake further petrophysical and geological studies to determine the most appropritae next steps in the evaluation program.
Reserves at 30 June 2016