Senex Energy spuds wells

Company News

Senex Energy Limited (ASX:SXY) has announced the spudding of the first wells in its 2016 financial year drilling program.
 
The oil and gas producer reported its Fulcrum oil exploration well was plugged and abandoned due to poor reservoir development.
 
The Spitfire oil appraisal well has resulted in further drilling and is expected to reach a total depth of 1,820 metres in early September.
 
Under Beach Energy’s operatorship, operations have been completed at both the Growler and Martlet North wells. 
 
Initial production guidance of 350 barrels of oil per day have been provided for the Growler operation, with Martlet North expected to be live for production in October.
 
Senex Energy recorded a net loss of $80.65 million for the year ending 30 June 2015.

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