Senex Energy Ltd Enters Agreement with Beach Energy Ltd to Sell South Australian Cooper Basin Assets Conference Call Transcript

Nov 03, 2020

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Nov 03, 2020 / 12:00AM GMT
Ian Richard Davies - Senex Energy Limited - CEO, MD & Director

Thanks, Ashley. Good morning, all, and thank you for joining this conference call on short notice. I'm an Ian Davies, Managing Director and CEO; and with me is our CFO also, Mark McCabe.

Mark McCabe - Senex Energy Limited - CFO

Good morning, everyone.

Ian Richard Davies - Senex Energy Limited - CEO, MD & Director

This morning, we announced a very significant event for Senex. After more than 20 years of successful operations in the Cooper Basin, we've agreed to the sale of this Cooper Basin business to Beach Energy. The sale marks a complete exit from the Cooper for Senex. And as you'd understand, it was a strategic decision that we thought about very carefully.

Our rationale is pretty simple: to crystalize the value of our Cooper Basin oil and gas assets so as to strengthen our balance sheet, accelerate development of our material Surat Basin natural gas asset position and pursue resultant capital management initiatives.

This

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