News – AU – That’s why Senex Energy’s (ASX: SXY) share price is 8% higher


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ASX 200 | A B C D E F G H I J L M N O P Q R S T U V W X

Bernd Struben | 22nd February 2021 1:24 p.m. | More about: SXY ALL ORDS

Senex Energy Ltd (ASX: SXY) stock price is moving today, up 8% in the early afternoon

The price gains follow the results of the company for the 31 December end of half year (H1 FY21)

In today’s ASX announcement, Senex Energy reported that it has successfully completed its $ 400 million natural gas development projects in the Surat Basin. The company credits these projects with a significant increase in its gas production, revenue and bottom line

Senex announced that its half-year natural gas production increased 271% year-over-year to 8.0 PJ or 14 million barrels of oil equivalent (mmboe) Surat Basin gas reserves increased 27% to 780 PJ

The company’s turnover increased by 239% to 45 million While underlying earnings before interest, taxes, depreciation and amortization (EBITDA) of $ 25 million USD 26 million compared to the first half of fiscal year 20 USD rose

Senex Energy had as of 31 December has a net present value of 33 million USD, an increase of 78 million USD versus the corresponding half is equivalent to

Production in the Surat Basin now exceeds 50 TJ / day or more than 18 PJ / year and is equivalent to around 10 percent of Queensland’s natural gas needs, with natural gas production in half of 8.0 PJ exceeding total FY20 production, which is the increase in gas field production capacity shows …

Also halfway through the announcement was the sale of our Cooper Basin business to Beach Energy for $ 875 million, which will further strengthen our balance sheet and strengthen the cash flow resilience of our natural gas portfolio

Davies said that given the strong performance of the past half year, the board of directors has decided to accelerate the dividend payout to Senex shareholders

Senex initially pays an annual dividend of 1 cent per share (paid semi-annually) together with a 05 cent special dividend after the Cooper Basin sale has been completed.This corresponds to an annualized dividend yield of 43%, 97% franked from 20 to 30% on

After Senex shares fell more than 62% last year during the COVID-driven market development that hit ASX energy stocks particularly hard, they are back in the green, up 4% in 12 months For comparison: The All Ordinaries Index (ASX: XAO) remained unchanged in the past year

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Motley Fool employee Bernd Struben has no position in any of the stocks mentioned The Motley Fool Australia has no position in any of the stocks mentioned The Motley Fool has a disclosure policy This article provides general investment advice only (under AFSL 400691) Authorized by Bruce Jackson

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Senex Energy Limited, natural gas, ASX: SXY, ASX, production

News – AU – This is why the Senex Energy (ASX: SXY) share price is 8% higher