Senex (ASX:SXY) has entered into an agreement with Planet Gas for the transfer of the company's remaining hydrocarbon interests in the Cooper Basin.
Planet gas will transfer its assets to Senex for consideration of $400 000 plus a 2 per cent overriding royalty interest.
Separately, Senex and Beach Energy have agreed to terminate the unconventional gas project joint venture that involved Planet Gas in the Cooper Basin.
As a consequence Senex will retain the area for potential further assessment.
Shares in Senex (ASX:SXY) are trading 1.04 per cent lower at $0.48