Amplitude Energy Concludes Artisan Buy at Fair Price -- Market Talk

Dow Jones
06/01

2248 GMT - Ord Minnett is happy with the price paid by Amplitude Energy for the Artisan natural-gas field. Amplitude is acquiring Artisan from Beach Energy for A$58.3 million upfront and a production royalty of A$3.75/per gigajoule. "In our view, this is a fair price to pay for increased confidence in the growth outlook and is comparable with the development costs for offshore wells (but without the exploration risk)," analyst Tim Elder says. The Artisan acquisition effectively underwrites the East Coast Supply Project. Ord Minnett expects the upfront consideration will be easily funded from the company's available debt capacity of A$345 million. "We expect a re-rate on future exploration success (Juliet in July-August) and as Amplitude's progresses toward gas production growth," Ord Minnett says. It retains a buy call on the stock. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

May 31, 2026 18:48 ET (22:48 GMT)

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