Senex Energy – Surging high on June quarter results

gas

Fourth-quarter results, reserves and contingent resources update and fully underwritten debt facility: Senex Energy Limited (ASX: SXY) stock rallied 8.54% on July 31, 2018 after the company delivered increased production and a higher realised oil price in the fourth quarter, released its estimate of reserves and contingent resources as at 30 June 2018 and signed fully underwritten debt facility. For the June quarter, SXY has increased 42% of the production to approximately 270,000 barrels of oil equivalent (boe). As a result, in FY 18, the production rose 12% to 840,000 boe, which is in line with the company’s guidance of 750,000 – 900,000 boe. The company incurred the capital expenditure of $23.1 million for the fourth quarter, and $80.1 million for FY18, which is also in line with annual guidance of $80 – $100 million. Moreover, SXY has signed a fully underwritten A$150 million debt facility with Australia and New Zealand Banking Group (ANZ) to fund the development of its Surat Basin gas projects. Further, SXY has delivered significant reserves additions with 1P reserves rose by 21% to 20.2 mmboe and 2P reserves rose by 35% to 113.2 mmboe. These additions were driven by positive subsurface performance from the WSGP 30-well Phase 2 appraisal program and the maiden booking on Project Atlas. Additionally, during the June quarter, SXY has agreed with Beach Energy on the western flank drilling program for FY19, including at least three development wells and seven exploration wells and associated infrastructure, expected to commence in August 2018. In addition, SXY has reached a significant milestone after signing the partnership with Jemena to bring Project Atlas gas to the domestic market in late 2019.

ertyuiopJune Quarter 2018 Performance (Source: Company Reports)

[pluginops_form template_id=’23834′ ]

 

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report