Cooper Energy recorded $57.3 million in total revenue for the last quarter of the 2024 financial year.
The company noted that total production numbers increased by one per cent, while revenue was up two per cent from the previous quarter.
Total production increased by four per cent for the whole of the 2024 financial year in comparison to the 2023 financial year performance.
Across Cooper Energy’s Orbost improvement project, sulphur processing improvements continued with the time between absorber cleans now extending to four to six weeks.
“Performance of the polisher unit has also notably improved since insulation was installed around the unit in June,” Cooper Energy managing director and chief executive officer Jane Norman said.
“The OGPP team are heavily focused on achieving further reliability and sulphur processing improvements and we are confident that we will see the benefits of those efforts in increased production over the September quarter.”
The company also completed the BMG wells decommissioning in May, with the expected final cost of the program amounting to less than $270 million.
“With that now behind us, we are focused on the East Coast Supply Project to backfill the Athene Gas Plant,” Norman said.
“Recent tightness in the Southern Australian gas markets, as noted in AEMO’s threat notice issued in June, highlights yet again the need for new gas supply and the importance of the East Coast Supply Project.”
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