The company explained the growth in 2P reserves had been driven by an 80% increase in coal seam methane reserves, or from 1095PJ to 2470PJ.

Managing director Grant King noted the total reserves figure represented nearly 40 times current production levels.

“It is particularly pleasing for Origin that we are able to both add significant reserves and monetise them through the signing of contracts with major customers and through commitments to service our retail and power generation requirements,” he said.

“Origin has pioneered the development of CSG in Queensland over the last decade and we are now adding reserves for less than 10c per gigajoule.”

The reserves increase was achieved mainly through the additions in Origin’s CSM tenements in the Bowen Basin and the Undulla Nose area of the Walloon coal measures in the Surat Basin.

Sales revenue rose to a record $122.3 million in the quarter, up 4% from the March quarter.

Production totalled 22.3PJ, a gain of 10%, while sales volumes rose 7% to 23.6PJ.

“Origin's coal seam gas (CSG) and BassGas operations were strong contributors to this increased performance together with seasonal increases in sales from the Cooper and Surat-Denison production assets,” the company said.

Over the year, sales revenue was up 14% to a record $474.9 million. Total production of 87.2PJ and total sales volumes of 92.5PJ were also records, increasing by 12% and 10% respectively.

“These increases were driven by increased CSG production and the first significant contribution from the BassGas project which more than offset lower production from mature assets in the Cooper, onshore Otway and Perth basins,” Origin said.