Senex Energy

Last updated

Senex Energy
Type Public
IndustryEnergy
Founded15 August 1984
HeadquartersLevel 30, 180 Ann Street, Brisbane, Queensland, Australia
Key people
Mr Ian Davies, CEO
Products
Number of employees
~200 (2023)
Website www.senexenergy.com.au

Senex Energy Pty Ltd (Senex) is an Australian energy company that was listed on the Australian Securities Exchange (ASX) in 1984 until 2022. The business is now privately owned by POSCO International and Hancock Prospecting. [1] The name refers to the Latin word Senex. [2]

Contents

Operations

Senex's operations are based in the Surat Basin with producing assets near the townships of Roma and Wandoan in Queensland.

Senex formerly owned producing oil assets in Australia's Cooper Basin.

History

Senex was listed on the ASX in August 1984 as Victoria Petroleum N.L. At that time, the company was based in Perth and headed by Founding Managing Director John Kopcheff, who retired from the Board in September 2010. [3]

In June 2010, the company announced the appointment of Ian Davies as Managing Director and advised that the business would relocate its head office to Brisbane. [4] Later in the year, the business announced "aggressive development programs" for its oil and gas acreage in the Cooper and Surat Basins, [5] further leadership appointments [6] [7] and obtained shareholder approval to amend the company's status and constitution. [8]

On 14 February 2011, the company officially changed its name to Senex Energy Limited and adopted the ASX ticker code "SXY". [2] [9] One week later, the company announced a merger with fellow Cooper Basin oil producer Stuart Petroleum. [10]

Senex was admitted to the ASX/S&P 200 index in April 2012. [11] In March 2013, the ASX amended the company's classification to a Mining Producing Entity, for reporting purposes. [12]

Senex operated more than 10 oil fields in the South Australian Cooper Basin, including Growler oil field, which was connected via pipeline to the Moomba oil processing facility in December 2012. [12] [13] [14]

In February 2015, Senex Energy discovered an oil pay zone at its Martlet North-1 exploration well on the western flank of the South Australian Cooper Basin. [15]

In 2020 Senex sold its Cooper Basin Oil assets to Beach Energy ending its operations in the Basin to concentrate on its Surat Basin gas assets in Queensland. [16]

On 13 December 2021, Senex agreed to be acquired by South Korean steel maker POSCO International for A$610 million. [17]

In August 2022 Snex announced a $1 billion expansion to its Surat Basin gas operations with plans to increase production to 60 petajoules (PJ) per year from the end of 2025. [18] The expansion was subsequently put on hold after the federal government announced its plans to cap energy prices for 12 months. [19]

Related Research Articles

<span class="mw-page-title-main">Chevron Corporation</span> American multinational energy corporation

Chevron Corporation is an American multinational energy corporation predominantly specializing in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California, it is headquartered in San Ramon, California, and active in more than 180 countries. Within oil and gas, Chevron is vertically integrated and is involved in hydrocarbon exploration, production, refining, marketing and transport, chemicals manufacturing and sales, and power generation.

ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas.

<span class="mw-page-title-main">Ovintiv</span> American energy company

Ovintiv Inc. is an American independent petroleum company. The company was formed in 2020 through a restructuring of its Canadian predecessor, Encana. Ovintiv is incorporated in Delaware and headquartered in Denver, Colorado.

Woodside Energy Group Ltd is an Australian petroleum exploration and production company. Woodside is the operator of oil and gas production in Australia and also Australia's largest independent dedicated oil and gas company. It is a public company listed on the Australian Securities Exchange and has its headquarters in Perth, Western Australia. In the 2020 Forbes Global 2000, Woodside was ranked as the 1328th-largest public company in the world.

<span class="mw-page-title-main">PetroChina</span> Chinese oil producer

PetroChina Company Limited is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. The company is currently Asia's largest oil and gas producer. Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007, and subsequently entered the constituent of SSE 50 Index. In the 2020 Forbes Global 2000, PetroChina was ranked as the 32nd-largest public company in the world.

<span class="mw-page-title-main">BG Group</span> Former British multinational oil and gas company

BG Group plc was a British multinational oil and gas company headquartered in Reading, United Kingdom. On 8 April 2015, Royal Dutch Shell announced that it had reached an agreement to acquire BG Group for $70 billion, subject to regulatory and shareholder agreement. The sale was completed on 15 February 2016. Prior to the takeover, BG Group was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. In the 2015 Forbes Global 2000, BG Group was ranked as the 583rd largest public company in the world.

Alinta was an Australian energy infrastructure company. It has grown from a small, Western Australia-based gas distributor and retailer to the largest energy infrastructure company in Australia. It was bought in 2007 by a consortium including Singapore Power and various parties which include the now defunct Babcock & Brown funds.

<span class="mw-page-title-main">Origin Energy</span> Australian energy company

Origin Energy is an ASX listed public company with headquarters in Sydney. It is a major integrated electricity generator, and electricity and natural gas retailer. It operates Eraring Power Station, Australia’s largest coal-fired power station, in New South Wales, which it plans to close in 2025. In 2022, it was Australia's fourth largest climate polluter. It owns 20% of Octopus Energy, a UK renewable energy retailer, a stake potentially worth billions of dollars.

<span class="mw-page-title-main">APA Corporation</span> American energy company

APA Corporation is the holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston. The company is ranked 431st on the Fortune 500.

<span class="mw-page-title-main">Ampol</span> Australian multinational petroleum retail company

Ampol Limited is an Australian petroleum company headquartered in Sydney, New South Wales. Ampol is the largest transport energy distributor and retailer in Australia, with more than 1,900 Ampol-branded stations across the country as of October 2022. Ampol also operates in New Zealand through its subsidiary Z Energy.

<span class="mw-page-title-main">AGL Energy</span> Australian electricity generator and retailer

AGL Energy Ltd is an Australian listed public company involved in both the generation and retailing of electricity and gas for residential and commercial use. AGL is Australia's largest electricity generator, and the nation's largest carbon emitter. In 2022, 83% of its energy came from burning coal. It produces more emissions as a single company than the nations of New Zealand, Portugal or Sweden, according to its largest shareholder, Mike Cannon-Brookes, who named it "one of the most toxic companies on the planet".

<span class="mw-page-title-main">Equinor</span> Norwegian energy company

Equinor ASA is a Norwegian state-owned multinational energy company headquartered in Stavanger, Norway. It is primarily a petroleum company operating in 36 countries with additional investments in renewable energy. In the 2020 Forbes Global 2000, Equinor was ranked as the 169th-largest public company in the world. As of 2021, the company has 21,126 employees.

<span class="mw-page-title-main">Beach Energy</span>

Beach Energy Limited is an Australian oil and gas exploration and production company based in Adelaide, South Australia. Formerly known as Beach Petroleum, the company changed its name to Beach Energy in December 2009. It is a component of the S&P/ASX 200 index of major Australian companies and in 2020 was the second largest oil producer in Australia after Woodside Petroleum.

AED Oil Limited is an oil and gas exploration and development company based in Australia with international assets. The company entered voluntary administration in August 2011.

<span class="mw-page-title-main">Petroleum industry in Western Australia</span> Overview of WA energy sector

The petroleum industry in Western Australia is the largest contributor to the country's petroleum exports. Western Australia's North West Shelf (NWS) is the primary location from which production originates. Oil exports are shipped from Port Hedland.

Steven Joseph Koroknay was an Australian oil company executive. He was born in Hungary about 1946. He was the executive chairman of Anzon Australia Limited. He died on 6 June 2013.

Myanma Oil and Gas Enterprise is a national oil and gas company of Myanmar. It was established in 1963. MOGE royalties and fees are estimated to generate US$1.5 billion in annual revenues, about half of the country's foreign currency reserves. The company is a sole operator of oil and gas exploration and production, as well as domestic gas transmission through a 1,200 miles (1,900 km) onshore pipeline grid.

<span class="mw-page-title-main">Linc Energy</span>

Linc Energy was an Australian energy company that specialised in coal-based synthetic fuel production, as well as conventional oil and gas production. It was engaged in development and commercialisation of proprietary underground coal gasification technology. Produced gas was used for production of synthetic fuel through gas-to-liquid technology, and was also used for power generation. The company had its headquarters in Brisbane, Queensland.

<span class="mw-page-title-main">Roc Oil Company</span>

Roc Oil Company Limited was an international petroleum company based in Sydney, Australia. The company was established in 1997 as a privately owned company by John Doran. In 1999, the company went public with an IPO at the Australian Stock Exchange, and in 2004, Roc was listed on the London Stock Exchange. In 2008, Roc Oil merged with Anzon Australia, and in 2014 China's Fosun International conglomerate acquired Roc for AU$474 million.

References

  1. ↑ "Rinehart and Korea's Posco take over Senex Energy". Australian Financial Review. 15 March 2022. Retrieved 29 April 2013.
  2. 1 2 "Victoria Petroleum becomes Senex Energy Limited" (PDF). ASX. 14 February 2011. Retrieved 29 April 2013.
  3. ↑ "John Kopcheff retires from the Victoria Petroleum N.L. Board". E&P Magazine. 22 September 2010. Retrieved 29 April 2013.
  4. ↑ "Victoria Petroleum N.L. appoints new Managing Director, new senior management and announces head office relocation to Brisbane" (PDF). ASX. 24 June 2010. Retrieved 29 April 2013.
  5. ↑ "Victoria Petroleum announces $26 million placement, aggressive development programs and reserves targets" (PDF). ASX. 22 November 2010. Retrieved 29 April 2013.
  6. ↑ "Mr Tim Crommelin appointed as Non-executive Director" (PDF). ASX. 18 October 2010. Retrieved 29 April 2013.
  7. ↑ "Victoria Petroleum appoints Chief Financial Officer" (PDF). ASX. 16 November 2010. Retrieved 29 April 2013.
  8. ↑ "AGM Results" (PDF). ASX. 26 November 2010. Retrieved 29 April 2013.
  9. ↑ "A commanding position in the Cooper Basin". The Australian Oil and Gas Review. 27 July 2012. Retrieved 29 April 2013.
  10. ↑ "Senex merges with Stuart Petroleum in $78m deal". Australian Financial Review. 21 February 2011. Retrieved 29 April 2013.
  11. ↑ "S&P indices to include Senex Energy Limited in S&P/ASX 200 Index-S&P Indices". Reuters. 16 April 2012. Retrieved 29 April 2013.
  12. 1 2 "March 2013 Quarterly Report" (PDF). ASX. 22 April 2013. Retrieved 29 April 2013.
  13. ↑ "Senex exceeds target oil production for 2012/13". Oil Voice. 15 April 2013. Retrieved 29 April 2013.
  14. ↑ "Senex posts record half-year profit on 70 per cent increase in Cooper Basin oil production". Adelaide Now. 25 February 2013. Retrieved 29 April 2013.
  15. ↑ "Senex Energy hits Cooper Basin oil pay zone". Petro Global News. Retrieved 25 February 2015.
  16. ↑ "Senex Sells Oz Cooper Assets to Beach". Natural Gas World. 3 November 2020.
  17. ↑ "Australia's Senex agrees to $610 mln buyout by POSCO International". Reuters. 12 December 2021. Retrieved 1 January 2022.
  18. ↑ "Senex Energy announces plans for a $1 billion expansion of its Surat Basin gas project". ABC News. 11 August 2022.
  19. ↑ "SSenex Energy says its gas expansion has been put on hold after energy cap announcement". ABC News. 22 December 2022.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.