Strategic rationale: Realising the near-term east coast gas market potential.
Senex holds over 2,000 square kilometres of gas acreage in the Surat Basin, a prolific onshore energy-producing region of Australia’s east coast. Senex has estimated proved plus probable (2P) gas reserves of 438 petajoules at 30 June 2017. The company is focused on progressing its key gas projects in the Surat, including the Western Surat Gas Project north of Roma and Project Atlas near Wandoan and Miles.
Senex delivered the first pilot for the Western Surat Gas Project in November 2016 with appraisal testing under way and raw (unprocessed) gas sold to GLNG. In February 2017, Senex sanctioned investment into Phase 2 of the project, committing $50 million to a drilling and construction program in the south eastern corner of the permits. The company’s successful appraisal work during 2016 and 2017 contributed to a 65% increase in proven (1P) Surat Basin gas reserves estimates at 30 June 2017. Regulatory and environmental approvals are in progress, with material gas production expected from 2018. Senex has signed a 20-year gas sales agreement with GLNG for up to 50 terajoules of gas per day from the Western Surat Gas Project. Read more
In September 2017, Senex was appointed by the Queensland Government to deliver their first domestic gas acreage tender, on acreage located near Wandoan and Miles. Project Atlas involves the delivery of natural gas from coal seams with all gas to be sold to the domestic market. First gas is targeted for 2019 with estimated P50 recoverable gas volumes of 201 petajoules1. In the near-term, Senex is focused on securing regulatory and environmental approvals and working closely with key stakeholders including the local community. Read more
Read the Senex 2017 Reserves Statement.