Cooper Energy reported a 3% quarter-over-quarter increase in production to 5.51 PJe and a 4% rise in revenue to $50.8 million in the first quarter of FY24 ended Sept. 30.

The BMG decommissioning is scheduled to start in November, preceded by the departure of the Q7000 from NZ.

The Orbost Improvement Project, aimed at reducing absorber bed cleaning time, made progress, and a farm-in agreement for 25.1% was secured for PEP 169 in the Otway Basin.

Despite the challenges, the company's activities in the Gippsland Basin and Otway Basin have progressed, while the Cooper Basin demonstrated a 20% increase in oil production to 410 bbls/day.

Total gas and oil volumes sold for the quarter reached 5.78 PJe, resulting in $46.1 million in gas sales revenue and $4.7 million in total liquids revenue, including condensate.