All tagged Sino Gas and Energy ASX:SEH
Sino Gas & Energy Holdings (ASX:SEH) has wrapped up the March 2018 quarter with record production levels and strong performance across the business. Gross production averaged about 25 million standard cubic feet per day during the quarter, with March production averaging a record 26mmscf/d. Sino Gas' net margin increased by 35 per cent quarter-on-quarter to US4.80/Mscf, on the back of increased production and natural gas prices, couple with a reduction in operating costs.
Sino Gas & Energy Holdings (ASX:SEH) has released its guidance for 2018 as well as its strategic priorities. Sino Gas plans to secure overall development plan approvals for the Linxing and Sanjiaobei production sharing contracts, maximise production and revenue through existing and new facilities, and position itself for continued production growth post ODP approval in line with the development plan.
Sino Gas & Energy Holdings (ASX:SEH) has released its December quarter results, highlighting a Q4 gross production exit rate of ~25MMscf/d and quarterly average of ~21MMscf/d. Sino Gas' full-year 2017 production rate of ~17MMscf/d was within guidance. The company submitted its Sanjiaobei ODP to its production sharing agreement partner PCCBM, with approval expected in the first half of 2018. Sino Gas expects its assets to deliver significant free cash flow from 2020.
Sino Gas & Energy Holdings (ASX:SEH) is pleased to announce that its five-year senior secured $US100 million debt facility with Macquarie Bank has been finalised, following completion of due diligence and satisfaction of all conditions precedent. Along with cash on hand and anticipated cash flow from operations, the facility is expected to fully fund Sino Gas' share of the Linxing and Sanjiaobei development plan. $US10 million of the facility has been drawn to repay and cancel the previous debt facility.
Sino Gas & Energy Holdings (ASX:SEH) is pleased to announce that the Sanjiaobei Overall Development Plan has been submitted to the Company's PSC partner PetroChina CBM for approval, representing an important regulatory milestone in the development of the Sanjiaobei PSC. The ODP was compiled in collaboration with PCCBM and accounts for ~60% of the current discovered area of Sanjiaobei.
Sino Gas & Energy Holdings (ASX:SEH) has noted a report by RBC Capital Markets analyst Ben Wilson regarding increased demand for gas in China last month. Chinese natural gas consumption for November was 23.2bcm, up about 20 per cent on the prior period and running up 19 per cent YTD on 2016 figures. RBC has reaffirmed that Sino Gas stands out as its favoured pick among the junior E&Ps with its direct China gas consumption exposure as it ramps up production in the Ordos Basin.
Sino Gas & Energy Holdings (ASX:SEH) has announced a record production rate, an increase in Sanjiaobei contracted gas prices and further progress on its Sanjiaobei overall development plan submission. The Company reached a record rate of over 23 million standard cubic feet per day, with consistent steady full production from the Linxing central gathering station. Sino Gas expects to exit 2017 with production close to nameplate capacity of 25MMscf/d.
Sino Gas & Energy Holdings (ASX:SEH) has released details of its proposed development plan for its Sanjiaobei and Linxing PSCs. The Company has also secured a $US100 million five-year debt facility with Macquarie, which is expected to adequately fund field development in combination with its cash reserves. The first Linxing ODP has been submitted to PSC partner China United Coalbed Methane Limited for approval, with the Sanjiaobei ODP on track for submission by the end of the year.
Sino Gas & Energy Holdings (ASX:SEH) has reported gross production of 21MMscf/d for the September quarter, with downstream issues resolved and a production ramp-up work program to provide a strong platform for growth in 2018. Construction of Linxing North CGS is also progressing, with start-up expected either late 2017 or early next year.
Sino Gas & Energy Holdings (ASX:SEH) has released a corporate presentation to be given at the Good Oil Conference in Perth. The Company is finalising its development plans for the Ordos Basin Project, which is expected to see a 10x increase in gas production between now and 2020. Once fully operational, the Ordos Basin Project is expected to produce 2-3% of China’s gas supply, with significant competition amongst gas buyers.