Senex cashes in with $50 million Roma North sale
SENEX Energy is set to sell its local infrastructure, in a new gas tolling agreement with energy infrastructure operator Jemena.
The $50million deal will see Jemena take over day-to-day operations of the Roma North processing facility and pipeline, as well as Project Atlas at Wandoan, from September this year, once performance tests are completed.
"We are pleased to be developing Senex's significant upstream natural gas acreage position alongside Jemena, a world-class operator of downstream infrastructure,” Senex managing director and CEO Ian Davies said.
"With low-cost expansion options designed into the facility and very competitive long-term tariff arrangements, this transaction will accelerate efficient recovery of Senex's material gas reserves from Roma North and the broader Western Surat acreage.
"Together, Senex and Jemena continue to deliver innovative and flexible solutions to bring more gas to the east coast market at prices that make sense for both producers and customers.”
In a statement, Senex said proceeds from the sale will support the continued development of its natural gas developments in the Surat Basin and other growth projects, including recently-announced exploration drilling of 110 wells at Roma North and Project Atlas.