Q2 2024 Cooper Energy Ltd Activities Report Call Transcript
Good morning. Thank you for the introduction. I'm joined this morning by our Chief Financial Officer, Dan Young. This morning, we released our December 2023 quarterly report with strong results driven by improved Orbost performance. I will start with commentary on the quarter and then open up the call for questions.
The total quarterly production averaged 63.6 terajoules equivalent a day, up 6% quarter on quarter, excluding the impact of the planned shutdown at Orbost, and up 15% compared to the same quarter last year. Additionally, Q2 production averaged around the midpoint of the full-year guidance range. This was driven by increased gas production at our Gippsland asset due to improved performance at the Orbost Gas Processing Plant and is the highest-quarterly production since September 2022.
Gas market prices remained strong due to declining gas supply in the southern states as forecast by AEMO. High spot sales into a strong market also lifted our average realized gas price to $8.50 a
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