Senex Looking for Queensland CSG Deal

Australian coal seam gas explorer, Senex Energy Ltd., is in talks with companies interested in buying its assets in Queensland, becoming a partner or reaching a supply deal, Bloomberg said in a report.

“We have been in discussions with a number of parties around those things and continue to be,” Ian Davies, managing director of Brisbane-based Senex, told Bloomberg in a phone interview without disclosing any of the companies. “As far as a time frame, when the right deal comes along that’s best for our shareholders, we’ll execute.”

The company has four coal seam gas permits in Queensland. These assets were valued at A$206 million ($211 million) in a Jan. 23 report from JPMorgan Chase & Co, Bloomberg said.

The company is also among shale gas explorers in the Cooper Basin, the outback region straddling the border of Queensland and South Australia states, and started a 12-well drilling campaign in December. Senex may bring in a partner to help develop those prospects, Davies reiterated, the newswire added.