Senex upgrades gas reserves at Surat Basin in Australia

Australia's Senex Energy announced a 21 per cent increase in Surat Basin gas reserves following the successful execution of its Surat Basin natural gas developments.

The company said that excellent appraisal and development drilling results at its Atlas project have driven a 62 per cent increase in 2P gas reserves, with continued Roma North production outperformance driving a 10 per cent increase in gas reserves.

Senex managing director and CEO Ian Davies said Senex’s major Surat Basin reserves upgrade follows the successful delivery of its transformational natural gas developments.

“FY20 was a year focused on successful execution of our $400 million Surat Basin developments, which delivered outstanding project delivery performance, continued gas production outperformance, and now material upgrades in booked natural gas reserves.

“With gas processing infrastructure established and a growing reserves base, Senex has now successfully delivered on the foundations to achieve continued growth in production, earnings and cashflow from its valuable east coast Surat Basin natural gas position,” Davies added.