2021 Annual Report
We are already well on our way to that target, having announced expansion projects at Roma North last October and at Atlas just after the end of the financial year, which will deliver material production growth in the year ahead.
Underpinning decades of future production are our increased 2P and 3P reserves - 767 PJ and 1,016 PJ respectively - that highlight the intrinsic value of our portfolio. To put this into perspective, our 2P reserves represent more than six months of all energy consumed by each and every Australian household.
The sale of our Cooper Basin business reinforced Senex's balance sheet and cashflow resilience; funded plans to accelerate the development of our low-cost, low-carbon, high-return business; and enabled the payment of our very first dividends to shareholders - a momentous achievement.
We followed the 4 cents per share special dividend and 4 cents per share ordinary dividend with a full-year dividend of 5 cents per share, taking total dividends to 13 cents per share.
These inaugural dividends were a significant achievement that we've been working hard towards for many years. Ordinary dividend payments reflected a dividend yield of 2.8 per cent, in line with our dividend policy of targeting a 20-30 per cent payout of free cashflow per year.
It is an exciting time at Senex as we pursue our refreshed strategy, focused on delivery of our low-cost, low-carbon, high-return and long-life natural gas assets. Looking ahead, we will focus on ambitious gas marketing and trading, and progressive electrification and decarbonisation of our business in collaboration with our customers.
We have extensive natural gas reserves with material uncontracted volumes to develop for a materially tightening southern gas market.
Our hub-and-spoke infrastructure operating model is in place and is scalable to support future exploration, appraisal and development activity as we drive towards our 60 PJe/year by the end of FY25.
We have a compelling business and the experienced team to deliver our strategy. We look forward to your continued support in 2022.
Managing Director and Chief Executive Officer
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About Senex Energy Limited
Senex Energy Ltd (ASX:SXY) (OTCMKTS:VPTOF) (FRA:UDB) is an established, rapidly growing and low-carbon Australian natural gas producer. Our long life Surat Basin assets contribute around 20 petajoules of natural gas per year into the east coast gas market to support our customers. Senex is focused on sustainably delivering balance sheet strength, resilient cashflows, growing dividends to support Australia's energy needs as it transitions to a lower carbon future.
Senex Energy Limited