Amplitude Energy Limited (ASX:AEL), an Australian gas production company focused on supplying the Southeast domestic gas market, today announced record financial and operational results for the twelve months ended 30 June 2026 (FY26). The company owns and operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland Basins, close to Australia’s largest gas demand centres, as well as non-operated oil production in the Cooper Basin. Amplitude Energy reported record full-year production of 27.6 PJ-equivalent, record revenue of $285.8 million, and record underlying EBITDAX of $191.8 million. Managing Director and CEO Jane Norman stated these results reflect the company’s focus on delivering its strategy and business priorities.
The record production, up 3% on FY25, was largely driven by the Gippsland Basin, with Orbost Gas Processing Plant (OGPP) production increasing to 66.5 TJ/d and demonstrating operational capacity above 70 TJ/d. The company also progressed its East Coast Supply Project (ECSP), identifying Annie and Artisan as key to project economics, with a final investment decision (FID) on the development phase anticipated in the near term. This project, which includes the recent acquisition of a 50% interest in the Artisan gas field, aims to provide significant new domestic gas supply.
Amplitude Energy’s revenue increased 7% on FY25 to $285.8 million, supported by higher sales volumes and gas prices. Underlying EBITDAX grew 12% to $191.8 million, yielding a 67% margin due to strong cost control. Adjusted cash from operations also reached a record $191.0 million, up 19%. Looking ahead to FY27, the company forecasts production guidance of 26.6 – 28.5 PJe and capital expenditure between $250 – $310 million. The focus remains on maximising operational cash generation while advancing ECSP drilling and development, funded through existing cash and organic cash flow.
