- Senex Energy (SXY) is successfully delivering its Surat Basin natural gas development on time and within budget
- Production at Roma North and Atlas have exceeded expectations with 13.5 and 6.5 terajoules produced daily at the respective sites
- To date, a total of 49 wells have been drilled at both sites with 33 on production with the remaining to be online in upcoming weeks
- Senex has ended the day up a slight 2.94 per cent with shares trading for 35 cents apiece
Senex Energy (SXY) is successfully delivering its Surat Basin natural gas development program on time and on budget.
Production at both Roma North and Atlas exceeded expectations.
Roma North production has exceeded 13.5 terajoules (TJ) per day and is tracing towards the plant’s initial capacity of 16TJ per day, or 6 petajoules (PJ) per day.
A total of 26 wells have been drilled at Roma North in this current program and 10 of the wells online and producing while the remaining will be bought online in the coming weeks.
Average daily production rates across the field exceed 0.3TJ per well and are increasing.
At Atlas, the first 23 wells are online and producing above 6.5TJ per day during the early ramp-up phase with most of the wells being online for less than nine weeks.
CEO and Managing Director Ian Davies said production performance at Surat Basin demonstrated the quality and potential of the assets.
“Senex starts 2020 with most of its Surat Basin gas development program successfully delivered and gas production rates continuing to outperform,” Ian stated.
“We are delighted with our operational and production performance to date, and we look forward to continuing to deliver the potential of our Surat Basin assets,” he added.
Senex has ended the day up a slight 2.94 per cent with shares trading for 35 cents apiece in a $509.6 million market cap.