Amplitude Energy Limited (ASX: AEL) has announced record operational and financial results for the full year ended 30 June 2026. The Australian energy company is primarily focused on natural gas exploration, development, and production for the domestic market across Southern Australia. It operates key gas processing facilities and gas fields in various basins. The company reported new highs across key metrics, with group production reaching a record 27.6 Petajoules equivalent (PJe) and sales revenue climbing to a record $285.8 million. Underlying EBITDAX also hit a new high of $191.8 million, representing a 67% margin, while adjusted cash from operations reached a record $191.0 million.
These robust financial outcomes were supported by increased contracted sales and strategic gas marketing activities, providing a resilient revenue base and higher realised prices. The company also achieved an 8% reduction in production expenses to $57.0 million, driving unit production cost down to $2.07/GJe. Operational highlights included sustained production above previous nameplate capacity at the Orbost Gas Processing Plant (OGPP), now boasting over 70 Terajoules per day (TJ/d) capacity, and strong performance from the Sole reservoir. Amplitude Energy significantly strengthened its balance sheet, reducing net debt by 85% to $37.6 million.
Looking ahead, Amplitude Energy is advancing its East Coast Supply Project (ECSP), a key brownfield growth initiative. The project has been de-risked through the Artisan acquisition, with a Final Investment Decision (FID) on the development phase anticipated in Q1 FY27. Exploration drilling at Juliet is imminent, with development of the Annie field to follow. Strong customer support underpins the ECSP’s potential to deliver first gas in 2028, largely funded by underlying cash generation. For FY27, Amplitude Energy forecasts production of 26.6 – 28.5 PJe and anticipates capital expenditure between $250 – $310 million, primarily for ECSP drilling and long-lead development items.
