Amplitude Energy posts record revenue of $83.3M

• Amplitude Energy achieved group production of 7.51 petajoules equivalen and revenue of $83.3 million for Q1 FY27.
• Shares rose $0.035 to trade at $1.80 following the operational update.
• The company reached final investment decision on its East Coast Supply Project and executed new drilling programs.

Amplitude Energy (ASX:AEL) achieved a quarterly production record of 7.51 PJe while generating $83.3 million in revenue.

Revenue increased 18% compared to Q4 FY26, driven by higher production and an increase in the average realised gas price to $10.69 per gigajoule.

"Amplitude Energy made an excellent start to FY27, posting new quarterly production and revenue records and hitting a number of key milestones on the ECSP," said Amplitude Energy Managing Director and CEO Jane Norman.

Net debt reduced from $37.7 million to $31.0 million during the quarter, despite elevated capital expenditure on drilling programs.

The company stated that approximately 70% of total project capital expenditure for the East Coast Supply Project will be spent by the end of calendar year 2026.

Following the announcement the Amplitude Energy share price was up at $1.80.

The Orbost Gas Processing Plant operated above 68 terajoules per day on 95% of days during the quarter to support group production.

The East Coast Supply Project targets gross gas production of up to 90 terajoules per day from 2028 through the Athena Gas Plant.