Senex Energy
| Company type | Private |
|---|---|
| Industry | Energy |
| Founded | August 1984 |
| Founder | John Kopcheff (Founding Managing Director) |
| Headquarters | Brisbane , Australia |
Area served | Queensland (Surat Basin), formerly South Australia (Cooper Basin) |
Key people | Ian Davies (Managing Director from 2010) |
| Products | Oil and natural gas |
| Owner | POSCO International, Hancock Prospecting |
Senex Energy Pty Ltd (Senex) is an Australian energy enterprise that was publicly traded on the ASX from 1984 until 2022. It is currently privately held by POSCO International and Hancock Prospecting. The company’s name originates from the Latin term Senex.
Operations
Senex’s core activities are centered in Queensland’s Surat Basin, where it manages producing assets near Roma and Wandoan. The company formerly owned oil-producing properties within the Cooper Basin.
History
Originally established as Victoria Petroleum N.L., the company listed on the ASX in August 1984. Its initial headquarters were located in Perth under the leadership of Founding Managing Director John Kopcheff, who stepped down in 2010. That same year, Ian Davies assumed the role of Managing Director, and the corporate office was moved to Brisbane. Senex initiated robust development initiatives focused on its Cooper and Surat Basin holdings, appointed key executives, and revised its corporate constitution.
On 14 February 2011, the firm adopted the name Senex Energy Limited and began trading under the ASX code "SXY". Shortly thereafter, it completed a $78 million merger with Stuart Petroleum, a producer operating in the Cooper Basin. Senex was included in the ASX/S&P 200 index by April 2012 and was designated by the ASX as a Mining Producing Entity in 2013.
The company managed more than ten oil fields in South Australia’s Cooper Basin, including Growler, which has been linked to the Moomba processing plant since December 2012. During this timeframe, Senex reported record-high production levels and profitability. In February 2015, it made an oil discovery at its Martlet North-1 well within the Cooper Basin.
In 2020, Senex divested its Cooper Basin assets to Beach Energy to concentrate on gas operations in the Surat Basin. On 13 December 2021, South Korean steel manufacturer POSCO International acquired Senex for A$610 million.
In August 2022, Senex revealed plans for a A$1 billion expansion of its Surat Basin gas production aiming to reach an annual output of 60 petajoules by late 2025. This proposed growth was subsequently suspended following the Australian government’s introduction of a 12-month energy price cap.