Senex Energy has wrapped up the previously announced AUD80 million acquisition of the PL 209 and PL 445 gas fields in the Surat Basin in Queensland, Australia from Australia Pacific LNG.

The two undeveloped gas fields are located near Senex Energy’s Atlas gas field, which has been in production since 2019.

PL 209 and PL 445 include a development-ready Northern Area that spans 77km2 and is comparable in reservoir quality to the Atlas field. The licenses also include a 77km2 Southern Area that needs future appraisal.

The estimated ultimate recoverable volume in the Northern Area is 184 petajoules (PJ) while the Southern Area is projected to have an additional nearly 600 PJ of gas in place.

The closing of the deal with Australia Pacific LNG is one of the preceding conditions to the AUD852 million acquisition of Senex Energy by POSCO International, which was announced in December 2021.

  Australia, Australia Pacific LNG, Oil and gas industry news, Oil and gas news, PL 209 field, PL 445 field, POSCO International, Queensland, Surat Basin