Each one in plain English, with the numbers worked through for a shareholder.
9 Aug 2021resource reserve update▲ GoodMajor
Independently assessed Surat 1P reserves rose 24% to 261 PJ and 2P rose 4% to 767 PJ (3P 1,016 PJ), helped by the ATP 2059 award at Atlas. Updates the earlier 780 PJ 2P figure, which is now slightly lower after FY21 production.
14 July 2020resource reserve update▲ GoodMajor
Surat Basin 2P gas reserves rise 21% to 739 PJ at 30 June 2020 (from 612 PJ), led by Atlas up 62% to 234 PJ and Roma North up 10% to 283 PJ. Total Senex 2P is 781 PJe (134 mmboe), up 19%. Surat output now exceeds 37 TJ/day.
3 Sept 2019drilling progress report▲ Good
First 15 of ~110 Surat wells drilled (5 at Atlas, 10 at Roma North), with Atlas coal up to 43 m thick. The first four Roma North wells are tied in and producing. Atlas wells connect from October; first sales gas is still late 2019.
1 Aug 2019drilling spud▲ Good
The first Project Atlas well was spudded on 31 July 2019, after the first 10 Roma North wells. This starts Atlas drilling, with first gas still targeted for later in calendar 2019.
5 June 2019drilling spud▲ GoodMajor
Senex began its ~110-well Surat Basin gas drilling campaign, starting at Roma North and moving to Project Atlas after Q1 FY20. It targets about 18 PJ a year of gas by end FY21. Atlas gas sales to customers start 1 January 2020.
15 Aug 2018drilling result▲ GoodMajor
Breguet-1, first well of the FY19 campaign (ex PEL 104, Senex 60%/Beach 40%), found Birkhead oil: up to 5.7m net pay in an 18.5m column. It will be cased and suspended, with production expected Q2 FY19 and follow-up appraisal possible.
31 July 2018resource reserve update▲ GoodMajor
At 30 June 2018, 2P reserves rose 35% to 113.2 mmboe and 1P rose 21% to 20.2 mmboe. Project Atlas made a maiden 2P booking of 144 PJ (24.5 mmboe). Cooper unconventional gas 2C resources were reclassified as prospective, so 2C fell to 5.3 mmboe.
6 June 2018drilling result▲ GoodMajor
Gemba-1 (PEL 516, Senex 100%) found gas ahead of pre-drill expectations and was extended to 2,795m on gas shows in the Dullingari group. A frac and test program is targeted for early FY19; this ends the FY18 drilling program.
2 May 2018drilling progress report● Neutral
Beach Energy's April drilling report. For Senex it repeats that Marauder-2 DW1 hit Birkhead sands and was suspended as a future producer. The rest covers Beach's own wells.
2 May 2018drilling result▲ Good
Marauder-2 DW1 reached 2,144m and hit Birkhead sands; it is cased and suspended as a future producer, completing the Marauder campaign. Gemba-1 gas well (PEL 516, Senex 100%) spudded 23 April, with PACE grant of $5.26m, drilling ahead.
16 Apr 2018farm in farm out agreement▲ GoodMajor
Senex and Beach agreed to move Beach's up to $43m free-carry commitment from Cooper unconventional gas to Senex-operated western flank oil permits (Senex 60%/Beach 40%). At least three horizontal development and seven exploration wells over about 18 months from early FY19. Lattice-earned gas interest reverts to Senex.
4 Apr 2018drilling progress report● Neutral
Beach Energy's March drilling report. For Senex's joint ventures it repeats Growler-15 online (578m net oil pay) and Marauder-2 plugged, with Marauder-2 DW1 drilling ahead. Rest covers Beach's other wells.
4 Apr 2018drilling result● Neutral
Growler-15 found 578m of net pay and went online 17 March. Marauder-2 exploration well found 8.6m of net sand with no commercial pay and was plugged back; sidetrack Marauder-2 DW1 is drilling to test the Marauder-1 discovery's extent.
7 Mar 2018drilling progress report● Neutral
Beach Energy's February drilling report. Relevant to Senex: Growler-15 (Senex 60% operator, Beach 40%) was drilling ahead in the Growler field. Mostly covers Beach's own wells.
7 Mar 2018drilling spud● Neutral
Growler-15, Senex's first operated horizontal Birkhead well on the western flank (Senex 60%/Beach 40%), spudded 18 February. It was drilling ahead at 2,056m, aiming for 3,049m to speed up Growler oil production.
10 Jan 2018drilling result▲ Good
Mimas-2 core well (ATP 795, Senex 100%) was drill stem tested and cased and suspended at 533m. Net coal and permeability are in line with expectations and similar to Eos and Glenora; a pilot program in the area is planned later in 2018.
6 Dec 2017drilling progress report▲ Good
November report: the final three Western Surat Phase 2 wells were drilled, completing the 30-well campaign; two pods are online and the last follows in December. Mimas-2 core well spudded 28 November and reached 533m, west of Eos and Glenora.
1 Nov 2017drilling progress report▲ Good
October report: six more Western Surat Phase 2 wells drilled, 27 of 30 done. Net coal measurements are slightly ahead of P50 estimates, and the first wells came online. GLNG raw gas agreement still being negotiated.
4 Oct 2017drilling result▼ Bad
Metgasco confirms Frey-1 in PEL 93 was plugged and abandoned for lack of significant hydrocarbon shows, with its cost within budget. It is evaluating other Cooper Basin farm-in options with Senex. Repeats the dry-hole result.
4 Oct 2017drilling result▼ Bad
September report: 7 more Western Surat Phase 2 wells drilled, 21 of 30 done, all cased and suspended. Frey-1 (PEL 93) reached 1,394m with no significant hydrocarbons and is being plugged, confirming the dry hole; Senex paid about 30% of cost. Final Frey-1 area split if partners proceed: Senex 46%, Cooper 19%, Metgasco 20%, Dunns 15%.
4 Oct 2017drilling result▼ BadMajor
Frey-1 in PEL 93 (Senex operator) found no significant hydrocarbons and was plugged and abandoned at 1,394m. Cooper Energy funded 19% of the well. This is a dry hole for the PEL 93 JV, partly cushioned by the farm-in partners' funding.
26 Sept 2017farm in farm out agreement● Neutral
Cooper Energy confirms farmouts partly funding Frey-1: Dunn's Earthmoving may acquire 15% and Metgasco 20% of the Frey-1 area for funding 30% of the well cost. Cooper's share would fall to 16% if all parties retain the area. Senex is operator of PEL 93 (the balance after Cooper's 30%).
26 Sept 2017farm in farm out agreement● Neutral
Metgasco agreed to farm in to the Frey-1 area of PEL 93 for a 20% interest, paying 30% of well costs (up to about $600,000 of a $2m cap). It is conditional on regulatory approvals and on drilling results.
25 Sept 2017drilling spud● Neutral
Cooper Energy reports the PEL 93 JV (Senex operator, Cooper 30%) spudded the Frey-1 exploration well on 23 September, targeting Namur and Murta in an anticline, to a planned 1,502m. The JV is in talks with multiple parties on a PEL 93 farm-in.
6 Sept 2017drilling progress report● Neutral
August report: 14 of 30 Western Surat Phase 2 wells drilled, all cased and suspended as future gas producers. Martlet North-2 (Senex 60%, Cooper Basin) reached 1,626m and was plugged for lack of commercial pay, a small setback after the Marauder-1 discovery.
6 Sept 2017drilling result● Neutral
Beach's August report mostly covers its own wells. For Senex it repeats that Martlet North-2 (Senex 60% operator, Beach 40%) was plugged for lack of commercial pay. No new Senex information.
2 Aug 2017drilling result● Neutral
Beach's July report mainly covers its own wells. It repeats the Marauder-1 discovery in ex-PEL 104 (Beach 40%, Senex 60% operator), 655 bopd on test, to be brought online in coming months. No new Senex information.
2 Aug 2017drilling progress report● Neutral
July report: seven of 30 Western Surat Phase 2 wells are drilled, with five Eos wells cased and suspended as future gas producers. Marauder-1 reached 2,130m and was suspended as a future Birkhead producer. Repeats the earlier discovery news.
26 July 2017resource reserve update▲ GoodMajor
At 30 June 2017, proved (1P) reserves rose 38% to 16.7 mmboe and proved plus probable (2P) reserves were broadly flat at 83.9 mmboe. Surat Basin gas gains offset Cooper declines. Contingent resources (2C) were 208.1 mmboe.
25 July 2017drilling result▲ GoodMajor
Marauder-1 (ex-PEL 104, Senex 60% operator, Beach 40%) is a Birkhead oil discovery, flowing 655 bopd on a drill stem test with up to 8.6m net pay. It sits about 2km north of Growler and Spitfire, with production expected in the coming months. This follows the dry PEL 182 wells.
