Brief Introduction

Location of gas field: Queensland’s Surat Basin

Acreage: 58 square kilometre

The primary objective of the Project Atlas natural gas development program is to reach plateau production of 32 TJ/day (~2 mmboe per annum), with an additional 8 TJ/day of installed redundant capacity available.  Maintenance wells will then be drilled on an ongoing basis to sustain plateau production.

Senex was awarded the acreage by the Queensland Government through a competitive tender process in September 2017. Senex Energy Ltd (Senex, ASX: SXY) is pleased to announce that following financial close of its Final Investment Decisions have been taken and multi-year work programs sanctioned for Project Atlas in 29 October 2018. Senex Energy has received Queensland Government environmental approval for development of Project Atlas in 27 May 2019.

Senex Energy Ltd: Operator with 100% interest

Expected workload

Major capital expenditure components: Land access, environmental and regulatory approval processes; Construction of water management facilities; Development well drilling and connections; Construction of gas and water gathering network.

Wells: Integrated drilling program with Roma North, with priority focus on Project Atlas; 60 development wells in initial campaigns commencing late Q3 FY19; Targeting A$1.4 million all-in cost per well across integrated drilling campaign; Indicative gas production ramp-up of 12 – 18 months post drill and connection.

Gas processing infrastructure: Gas processing capacity of 32 TJ/day (~2 mmboe per annum), plus 8 TJ/day (~0.5 mmboe per annum) of installed redundant capacity; modular design for rapid low-cost expansion; 60 kilometre pipeline to be connected to the Wallumbilla Hub; Infrastructure to be built, owned and operated by Jemena