The
Senex Energy Ltd(ASX: SXY) share price is surging this week as gas prices continue to rise both nationally and internationally, partly brought on by cooler than average temperatures throughout the biggest gas consuming economies.
The Senex share price is up 3.1% today, trading at $3.29 per share at the time of writing
Senex is an Australian oil and gas exploration and production company. The company’s geographical segment includes the Surat Basin and Cooper/Eromanga Basins.
It generates most of its revenue from the Cooper/Eromanga Basins segment, which is located mainly in the northeast part of South Australia and extending into southwest Queensland. The company earns its key revenue through oil sales, gas and gas liquids sales.
Vintage Energy Ltd (ASX:VEN) Operations Update
Operations UpdateMelbourne, Feb 5, 2021 AEST (ABN Newswire) - Vintage Energy Ltd (
ASX:VEN) provides an update on activities relating to the testing of Nangwarry-1 in the onshore Otway Basin, the Vali gas field and Odin prospect in the Cooper Basin and the Cervantes prospect in the Perth Basin.
Otway Basin - PEL 155 (Vintage 50%, Otway Energy Pty Ltd 50% and operator)
The procurement of long lead items for the testing of Nangwarry-1 is nearly complete. These items, along with the Superior Energy rig, will be mobilised to site around the middle of February 2021, with testing of Nangwarry-1 to commence soon thereafter.
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Energy commodities bouncing back
Brent crude oil has staged a significant recovery to the US$52 per barrel level. This compares to being range bound around the US$40 mark since June 2020.
Thermal coal prices have increased over 50% during the December 2020 quarter, brought on by China ramping up imports on non-Australian thermal coal.
LNG prices have also surged to a six-year high of around US$15 per million British thermal units (MMbtu), from US$2/MMbtu in mid-2020.
A number of supply-demand, weather and political forces continue to work in favour of sturdy energy prices. Since March 2020, key energy producers including OPEC+ and