Seashore Power Ltd. noticed its gross sales volumes within the second quarter of firm monetary yr 2024 soar 24 % above the prior quarter because it achieved its first Waitsia liquefied pure gasoline (LNG) cargo. The corporate stated in a information launch that gross sales volumes reached 6.09 million barrels of oil equal (MMboe), 748,000 boe of which got here from the Waitsia LNG cargo whereas 578,000 boe got here from the one-off Waitsia condensate cargo.
Its complete gross sales income of $357.7 million (AUD 544 million) was 37 % above the prior quarter, primarily resulting from gross sales from the primary Waitsia LNG cargo and the one-off Waitsia condensate cargo. The common realized gross sales worth throughout all merchandise of $58.52 (AUD 89) per boe was 11 % above the prior quarter.
“On the West Coast, the primary Waitsia LNG cargo demonstrated the worth of our LNG gross sales settlement with bp. It additionally highlights the significance of onshore gasoline export licenses for underpinning funding in main gasoline developments resembling Waitsia Stage 2. As we work towards commissioning of the Waitsia Fuel Plant, we sit up for promoting common LNG cargoes into the worldwide market”, stated chief government Brice Clement.
The common realized oil worth elevated by three % to $94.68 (AUD 144) per barrel, whereas the common realized gasoline worth was in keeping with the prior quarter at $5.85 (AUD 8.9) per gigajoule. LNG gross sales have been priced at $15.78 (AUD 24) per million British thermal items.
The expansion in gross sales income realized within the second quarter of FY24 was largely offset by increased gross sales prices, together with elevated third-party purchases and actions in stock related to liquids liftings and better non-operated Cooper Basin JV working prices, in line with the corporate.
The corporate stated that its manufacturing for the quarter slipped 4 % from the earlier quarter to 4.3 MMboe. Primarily based on manufacturing outcomes for the primary half of FY24, Seashore has revised its FY24 full-year steerage to 18.0–20.0 MMboe (beforehand 18.0–21.0 MMboe).
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