The company chalked up production of 228,298 barrels during the quarter. The production figure was a 27% increase quarter on quarter, with its production profile to be given a boost before the end of the calendar year with the construction of key infrastructure.
While its 2011-2012 production was hampered by wet weather in the Cooper Basin, Senex and joint venture partners in the area are building key infrastructure to dampen the impact of future weather events.
Senex told investors this morning the Lycium to Moomba flowline was essentially complete with tie-in to Santos’ Moomba facility expected in the September quarter.
Meanwhile The Snatcher to Tirrawarra pipeline is expected to be completed next month by Santos, and Senex will begin work soon the Snatcher to Charro pipeline as soon as final approvals are granted.
Senex’s production rise was reflected in its sales figures, with sales for the quarter reaching $US24.6 million ($A23.8 million), a 27% increase quarter on quarter.
The ASX-listed company said exploration highlights included the discovery of an oil field in PEL 111 with the Mustang-1well.
That well intersected a 4.5m gross oil column in the oil bearing sands of the mid-Birkhead formation with interpreted net oil pay of 4m before being cased and suspended as a future producer.
A drill stem test was carried out over the interval 1784.8-1791.5m and resulted in the well flowing oil to surface after 23 minutes.
About 35 barrels of 45.4 degree API oil with no water was recovered from a 20 minute flow. Senex said the flow was equivalent to a rate of 2484 barrels of oil per day.
On the unconventional front, it said flow from Sasanof-1 in PEL 516 continued to increase after it carried out a frac job on the well in late May.
Initial liquids-rich flow was recorded at a peak rate of 178,000 cubic feet per day, but told the market this morning that flow had since peaked at more than 200,000cfd.
Elsewhere, drilling in the Surat Basin resulted in Senex’s CSG reserves jumping 74% to 138.1 petajoules.
This article first appeared in ILN's sister publication EnergyNewsBulletin.net.
