Amplitude Energy Says Fiscal Year-to-Date Production at Australian Gas Processing Plant Surpasses Full Fiscal Year 2024 Performance

MT Newswires Live
05-26

Amplitude Energy (ASX:AEL) said that year-to-date production at its Orbost gas processing plant in southeastern Australia in the current fiscal year to May 14 surpassed full-fiscal-year 2024 production of 18.1 petajoules, according to a Monday Australian bourse filing.

The firm's monthly production in April was the highest on record at 66.9 terajoules per day. The plant produced over 66 terajoules per day, on over 85% of days thus far in the fiscal fourth quarter.

The firm plans to raise the nameplate capacity of the plant beyond 68 terajoules per day.

Further improvement in production performance is expected after the stainless steel packing was installed in both absorbers, and the chemical clean-in-place system began operations.

It contracted a supply of 0.7 petajoules over the remainder of the calendar year at a price consistent with current short-term market prices.

The firm said that its Athena Supply Project environment plan was accepted, allowing for the start of the Transocean Equinox semi-submersible rig's activities for the East Coast supply project joint venture. It also recently began marketing the supply project's gas contracts.

Amplitude Energy is in the process of finalizing the fiscal year-end Sole field reserves position. Further reservoir modelling, including history matching of the Sole field subsurface models to the production data, is expected to provide confidence in the model forecast.

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