Oz Senex's Q1 Revenue Jumps 30%
Australian oil and gas explorer Senex Energy on October 13 reported a 30% yr/yr increase in sales revenue for the three months to September 30 (Q1) thanks to sharp jump in sales volumes.
Senex’s sales revenues in Q1 came to A$31.1mn (US$22.3mn) compared with A$23.9mn in the same period last year. Its sales volumes averaged 7,870 barrels of oil equivalent/day, versus 3,470 boe/d a year earlier.
Production in Q1 averaged 8,730 boe/d, up from 3,610 boe/d in the same period last year. This included 1,370 boe/d of oil, versus 1,960 boe/d a year before, and 7,360 boed/d of gas and gas liquids, compared with 1,650 boe/d, Senex said. The company’s average realised oil price during Q1 was A$80.3/barrel compared with A$100/b in the year-ago period.
“Senex has begun the new financial year with strong momentum and new investments underway for acceleration of production from our extensive natural gas reserves position in the Surat basin,” CEO Ian Davies said.
In a separate statement also issued on October 13, Senex announced a final investment decision on expanding gas production at Roma North project in Queensland by 50% to 24 terajoules/day or about 9 petajolues/year (8.5bn ft3/yr). First gas is expected in the first quarter of the 2022 financial year.