Strategy

Global oil markets have rebalanced, with Brent crude trading between US$60-80/bbl in 2018. Global demand remains strong, enhanced by increasing demand from developing economies.

Senex remains a low-cost upstream operator with quality oil acreage in the Cooper Basin. Our lean operating capability, existing infrastructure and pathways to market, as well as strong relationships across the value chain, support Senex’s position as a leading oil producer in the region.

We are focused on delivering reserve and production additions from a western flank work program, with Senex free-carried by Beach Energy (Beach) for up to $43 million of expenditure.

Significant long-term supply opportunities exist in a structurally short east coast gas market, driven by domestic energy consumption and export demand from Queensland’s LNG producers. As reaffirmed by the nation’s Chief Scientist Dr Alan Finkel during 2017, natural gas will play an important role in the energy mix, particularly as the world transitions to a low-carbon future.

Senex is one of the few independent companies investing in greenfield gas developments to meet this opportunity.

We are leveraging our strategic position as an agile, independent and low-cost operator to bring new gas supply into the market.

We are focused on the successful delivery of our major east coast gas development projects in the Surat Basin (Project Atlas and the Western Surat Gas Project), along with new gas opportunities in the Cooper Basin.

Senex continues to evaluate its position in the upstream value chain, addressing opportunities to position the business for future supply and demand changes in Australia’s energy markets. This includes inorganic and organic opportunities where these align with strategy, operating capability and financial capacity.

This includes inorganic and organic opportunities with emphasis on an optimal risk / reward profile.