Senex increases Surat basin gas reserves

Senex Energy Ltd., Brisbane, has increased its independently assessed estimated gas reserves in the Surat basin of southeast Queensland by 24% for 1P reserves to 261 petajoules.

The company also achieved a rise in 2P reserves to 767 petajoules which is up 4%, while 3P reserves have moved up by 2% to 1,016 petajoules.

Senex production from the region now exceeds 52 terajoules/day (19 petajoules/year) and it is on the way to its targeted five-fold growth in annual production of more than 60 petajoules/year by the end of the 2025 financial year.

The company’s Atlas project led the way, recording a 46 petajoule (15%) increase in 2P gas reserves to 270 petajoules, largely attributable to the award of high-value acreage in ATP 2059 adjacent to, and extending, the Atlas development, said Ian Davies, managing director and chief executive officer.

The Roma North development achieved a 2P reserves replacement ration of 100%. The project area holds 2P reserves of 497 petajoules and 3P gas reserves of 746 petajoules.

Commissioning of the expanded processing facility to 9 petajoules/year represents the first phase of the wider Roma North development, and a final investment decision for the second phase of expansion to 18 petajoules/year is expected in the coming months, Davies said.

Planning for the third expansion phase has begun which aims to bring annual Roma North production up to 27 petajoules/year.

The independent assessment of reserves was performed by Netherland Sewell & Associates.