Filter news

57427 articles online
Opinion & Comm.
Keyword

All words
Any words

Added
 

Article Tools

 

Senex exceeds target oil production for 2012/13

Monday, April 15, 2013
  • Expects to deliver record net oil production of 1.2 million barrels for the 2012/13 financial year.
  • The favourable production result was due to strong performance at Senex's existing oil fields on the western flank oil fairway, as well as contribution from new discoveries, Mustang and Spitfire, according to Mr Davies.

Senex Energy Limited (Senex, ASX: SXY) expects to deliver record net oil production of 1.2 million barrels for the 2012/13 financial year, after reaching its annual target of one million barrels of oil more than two months before year end.

Commenting on the production milestone, Senex Managing Director Ian Davies said the company had demonstrated its ability to set challenging targets and exceed them.

'In July 2012, we announced plans to produce one million barrels of oil (net) in 2012/13. Today, I'm pleased to report that we achieved that target and have revised our full year net production guidance to 1.2 million barrels of oil,' he said.

The favourable production result was due to strong performance at Senex's existing oil fields on the western flank oil fairway, as well as contribution from new discoveries, Mustang and Spitfire, according to Mr Davies.

'As we foreshadowed back in July 2012, 2012/13 has been a year of rapid development at our western flank oil fields. This work will continue over the current quarter with a focus on consolidating and stabilising our production operations, and improving efficiencies,' he said.

The Australian Securities Exchange has reclassified Senex as a Mining Producing Entity for reporting purposes, effective 1 January 2013, following the Company's strong and continued oil production performance.

Accordingly, listing rule 5.3 will no longer apply to the Company and all future quarterly reports will be released to the market in accordance with listing rule 5.1.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related Companies

Related News

Join 70,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Your details are never shared or sold. We hate spam too.

Key Supporters


 

» More Jobs       » Upload a free Job       » Upload your CV

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • What ails the North Sea?
    There is a need to act before the North Sea ‘fails’ economically Despite continuing high oil prices, the mature UKCS and NOCS producing provinces continue to b ...
  • Oil and cash flow: the Kurds' conundrum
    Some ten days ago, the Kurdistan Regional Government (KRG) were reported to have sent Peshmerga units into the Bai Hassan and Kirkuk oil fields - formerly under ...

» More Opinion & Commentary         » Write for us             RSS RSS

OilVoice Magazine
Oil Echo
Oil Earth

Opinions & Commentary

Oil price, Bowleven/Petrofac, Falcon Oil & Gas, Sound Oil and finally...

by Malcolm Graham-Wood

Read More »