Strategic rationale: Growing our material exploration and production position in Cooper Basin oil.
Senex holds acreage on the productive flanks of the Cooper Basin, Australia’s largest onshore oil and gas province. In June 2018 Senex has 2P oil reserves of 8.3 million barrels.
Senex has a strong operational capability, operating 14 oil fields which produced 750,000 barrels of oil in FY18.
Looking forward, the business will prioritise oil exploration, appraisal and development on the western flank, and rationalising non-core acreage in the portfolio.