Senex Energy Limited (ASX:SXY, Senex) has today announced its 2015 first half results, with a lower profit on reduced oil revenues and a strong financial position heading into the second half.
FY15 half year results against previous corresponding period:
- Net production of 0.74 mmboe, up 14%, a record first half result
- Statutory net loss after tax of $(65.9) million after non-cash impairment charge of $86.5 million before tax, reflecting the lower oil price environment
- Underlying net profit after tax1 of $1.6 million, down from $31.8 million; result includes first-half exploration expense of $18.4 million
- EBITDAX2 of $33.5 million, down from $46.9 million
- Strong financial position with no debt, and cash balance of $74.9 million
- Progress on strategic gas projects and first commercial gas sales achieved
- Full year capex guidance cut 20% to $85-90 million, plus additional annualised cost savings of $6 million identified and implemented.
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