Senex Energy Ltd
(ASX:SXY) has offered its preliminary outlook for FY2017. The company says it will increase activity, while maintaining financial strength and liquidity.
Senex’s focus on FY17 is its major growth gas project in the Surat Basin, cutting across NSW and QLD.
Capital expenditure guidance is between $60 million and $70 million, according to Senex. The company also says there may be more capital deployment in its Cooper Basin business – in the event of a sustained oil price recovery.
Also, the company’s net production guidance is 800,000 to 1 million barrels of oil. It also says its production growth is limited by a reduced rate of capital investment since January 2015.
Senex reported a net loss of $27 million at 31 December 2015.
