Senex Energy Limited (ASX:SXY) has revealed record first half profitability and announced a landmark gas farm-out deal with Origin Energy Limited (ASX:ORG).
Senex increased its net profit by 9 per cent to $25.6 million in the first half of the 2014 financial year in the same period its underlying profit jumped 37 per cent to $31.8 million.
The company says its record profitability was driven through solid production being delivered into high Australian dollar oil prices.
Looking ahead Senex expects output to increase in the second half and believes it is on track to reach its full year production targets.
Separately, Senex has inked a deal with Origin Energy to evaluate unconventional gas plays in key areas of South Australia’s Copper Basin which will include a total $252 million investment.
