Latest Otway Basin News

Amplitude Energy has launched the retail component of its fully underwritten entitlement offer, aiming to raise approximately A$20 million to support key growth projects including the expansion of the East Coast Supply Project and the potential restart of Patricia Baleen.

Amplitude Energy Limited has announced a fully underwritten $150 million equity raising to fund the expansion of its East Coast Supply Project (ECSP+) and the potential restart of the Patricia Baleen gas field, aiming to boost gas supply in Australia’s constrained east coast market.

Amplitude Energy is expanding its East Coast Supply Project by adding a fourth well at the Nestor prospect and plans a potential restart of the Patricia Baleen field, supported by a $150 million equity raising to fund these growth initiatives.

Amplitude Energy has delivered record production and cash flow in FY25, driven by higher gas volumes and prices, while advancing its East Coast Supply Project on schedule for 2028 first gas.

Amplitude Energy has delivered record production and earnings in FY25, driven by operational improvements and a strategic joint venture for the East Coast Supply Project.

Amplitude Energy Limited reported a 22% revenue increase to A$268.1 million for FY25, narrowing its net loss significantly while progressing its East Coast Supply Project with a new joint venture partner.

Beach Energy has reported a robust FY25 performance marked by significant production growth, record free cash flow, and strategic progress on key projects like the Waitsia Gas Plant and Moomba CCS. The company’s disciplined cost management and gas marketing strategy underpin a confident outlook for FY26.

Beach Energy reported robust FY25 results marked by significant cost reductions, increased production, and record dividends, while advancing key projects like the Waitsia Gas Plant and Moomba CCS.

Beach Energy reported a 9% rise in FY25 production to 19.7 million barrels of oil equivalent and a 13% increase in sales revenue to $2 billion, driven by strong basin performances and the Waitsia LNG project. However, a significant $674 million impairment charge due to lower commodity prices and reserves revision at Beharra Springs tempers the upbeat results.

Vintage Energy reported a modest decline in quarterly sales revenue and production but strengthened its cash position through a fully subscribed capital raising and strategic asset sale agreement. The company also initiated a promising feasibility study on a CO2 liquefaction plant at Nangwarry.

Lakes Blue Energy has secured $6.5 million in new capital and is set to begin drilling the Wombat-5 gas well, targeting near-term supply to Victoria’s east coast market. Meanwhile, its Nangwarry carbon dioxide project moves forward with a fully funded feasibility study.

3D Energi is gearing up to drill up to six exploration wells in the offshore Otway Basin, targeting a massive 9.2 trillion cubic feet of prospective gas resources. The entry of Korea National Oil Corporation into the joint venture adds strategic weight to this pivotal East Coast energy project.