Amplitude Energy Reports Record Production and Strategic Advancements

Amplitude Energy ( (AU:AEL) ) has shared an update.

Amplitude Energy Limited has announced significant operational updates, highlighting strong production performance at the Orbost Gas Processing Plant (OGPP), with record production levels achieved in April. The company is progressing initiatives to increase the plant’s capacity and has noted improved performance from the Sole field, which may lead to upward revisions of recoverable volumes. Amplitude Energy is also considering additional gas sales agreements to maximize prices and balance market exposure. Additionally, the company is advancing its East Coast Supply Project, with the Transocean Equinox rig commencing activities, and has made progress in marketing ECSP gas contracts.

The most recent analyst rating on (AU:AEL) stock is a Buy with a A$0.27 price target. To see the full list of analyst forecasts on Amplitude Energy stock, see the AU:AEL Stock Forecast page.

More about Amplitude Energy

Amplitude Energy Limited (ASX: AEL) is an Australian gas production company focused on supplying the Southeast domestic gas market. The company owns and operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland Basins, close to Australia’s largest gas demand centres, as well as non-operated oil production in the Cooper Basin. Amplitude Energy has a portfolio of long-term customer gas supply contracts, while retaining exposure to tight Australian East Coast spot gas markets. The company also holds an extensive portfolio of exploration and development prospects in the Otway and Gippsland Basins, including undeveloped discovered resources such as the Annie and Manta gas fields, in close proximity to its existing infrastructure.

YTD Price Performance: -9.76%

Average Trading Volume: 2,666,837

Technical Sentiment Signal: Sell

Current Market Cap: A$490.5M

See more insights into AEL stock on TipRanks’ Stock Analysis page.