Amplitude Energy Reports Record Revenue, Production for September Quarter; Shares Rise 4%

MT Newswires Live10-19 08:59

Amplitude Energy (ASX:AEL) reported gas and oil production of 7.51 petajoules-equivalent for the September quarter, up from 6.81 petajoules-equivalent in the June quarter and marking the company's highest-ever quarterly production, according to a Monday filing with the Australian bourse.

It also reported record quarterly revenue of AU$83.3 million, up 18% from the June quarter, supported by strong production performance and a 4% increase in the average realized gas price, per the filing.

The results came as Amplitude's Orbost gas processing plant in Victoria consistently produced above its prior nameplate capacity, operating at above 68 terajoules per day on 95% of days during the September quarter.

The company said its net debt position fell to AU$31 million at the end of September from AU$37.7 million at the close of June "despite elevated capital expenditure during the quarter."

Amplitude Energy shares gained 4% in recent Monday trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment