Armour Energy (AJQ) has signed a Master Sales Agreement with Shell Energy Australia to allow for the bilateral trading of gas.
The agreement provides for a 13-month gas sales agreement from December 1st this year at a price of $12/GJ, with an uplift for CY 2024 based on forecast 2024 market pricing improvements.
Armour Energy says it will also be exploring non-exclusive opportunities to utilise its 100% owned and operated Newstead Gas Storage facility for gas demand cycles.
The company is also undertaking an extensive program to uplift production from its Surat Basin portfolio.