Energy provider Amplitude Energy has wrapped up its 2026 fiscal year with positive momentum, reaching new group production record and new financial records for the year.
The company delivered record group production of 27.6 petajoule equivalents (PJe), up 3 per cent from the previous year and supported by a steady final quarter that pumped out 6.81 PJe, or 74.8 terajoules per day (TJ/d).
The production boom pushed annual financial records to new heights, driving revenue up 7 per cent to AU$285.8 million, while average realised gas prices climbed 4 per cent to $10.35 per gigajoule.
A major catalyst for the growth was the company’s cornerstone Orbost Gas Processing Plant in the Gippsland Basin, which processed a record 24.3 PJ over the financial year.
Following successful engineering debottlenecking and maintenance works, the facility achieved a new post-quarter daily production high of 74.7 TJ.
Amplitude Energy CEO Jane Norman praised the resilience of the company’s portfolio, noting that long-term contracts insulated the business from seasonal fluctuations.
“Amplitude Energy finished FY26 with positive momentum, posting new production, revenue, and realised price records for the financial year.
“While a brief period of soft spot gas prices in early winter saw lower spot sales and revenue in the fourth quarter, the heavily contracted nature of our gas sales provided resilience in revenue and cash flows.
“We ended FY26 with net debt of $37.2 million, proving the company’s ability to fund growth through internal cash flows and providing a firm footing to pursue the next phase of ECSP drilling.”
The strong balance sheet provides a robust foundation for the next phase of the East Coast Supply Project (ECSP) in the Otway Basin. The economics of the project were recently strengthened by the acquisition of the Artisan gas field from Beach Energy.
Amplitude is now moving at pace toward a highly anticipated drilling campaign, with the Juliet prospect expected to spud by August, followed quickly by the Annie development well.
The ECSP remains on track for a final investment decision in early fiscal 2027, positioning it as one of the largest and lowest-cost sources of new domestic gas for the East Coast market by 2028.
