Half Year 2026 Amplitude Energy Ltd Earnings Call Transcript
Key Points
- Amplitude Energy Ltd (COPJF) reported record production and financial metrics for the first half of FY26, with underlying EBITDAX reaching $100.3 million and adjusted cash flow from operations at $85.6 million.
- The company increased its FY26 production guidance due to strong performance across its basins, particularly in the Gippsland Basin, where production rates exceeded previous expectations.
- Amplitude Energy Ltd (COPJF) has successfully secured new high-value gas contracts, leading to a projected 20% increase in average contracted gas prices starting January 2026.
- The East Coast Supply Project (ECSP) is progressing well, with drilling operations on schedule and budget, and foundational gas supply agreements expected to be signed soon.
- The company has maintained excellent safety and environmental performance, with no recordable injuries or environmental incidents reported during the first half of FY26.
- The Eleonora exploration result was disappointing, not meeting expectations, although the company is now focusing on the Isabella prospect.
- There are concerns about potential pressure drops across the solar pipeline, which could limit throughput at the plant, requiring further investment to address.
- The company anticipates higher production costs in the second half of FY26 due to maintenance activities in the Otway Basin and a scheduled shutdown at the Athena plant.
- Amplitude Energy Ltd (COPJF) faces regulatory and policy challenges that could impact future investment and project approvals, particularly in the context of the ECSP.
- The company is still assessing the potential for additional gas resources in the sole field, with contingent resource bookings dependent on further technical and commercial evaluations.
Welcome to the Amplitude Energy Limited FY26 1st half results webcast. All participants are in a listen-only mode. Following the call, there will be a question-and-answer session. To ask a question, participants need to dial 1 on their telephone keypad. I will now pass over to Jane Norman, managing director and Chief Executive Officer of Amplitude Energy. Please go ahead, Jane.
Good morning and thank you for joining us. This is Jane Norman, and I'm joined today by our Chief Operating Officer Chad Wilson and our new Chief Financial Officer, Ian Bucknell.
For those who haven't yet met Ian, he started with Amplitude as our CFO in January this year. Ian has held several prior CFO roles at ASX listed energy and mining companies over the last 15 years, and we are very pleased to have someone of his caliber add to the strengths of the executive team.
Ian will cover our first half financial results in in detail a little later on.
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