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Highlights
- Quarterly gas output down 9% due to scheduled plant shutdowns
- Average gas prices rose 2% amid firm market conditions
- FY25 targets remain on track with ongoing progress at key facilities
Amplitude Energy (ASX:AMP) has reported a 9% decrease in gas output for the March quarter, largely driven by scheduled maintenance at two of its key processing plants. Despite the temporary disruption, the company reaffirmed its commitment to hitting full-year 2025 targets, maintaining confidence in its long-term operational roadmap.
Quarterly production fell to 6.1 petajoules of gas equivalent, compared to 6.7 petajoules in the previous quarter. The dip was attributed to planned shutdowns at the Adelaide Gas and Orbost Gas plants, both of which are currently undergoing maintenance.
While volumes were lower, pricing trends offered a partial offset. The average realised gas price increased to $10.19 per gigajoule, a 2% rise from the prior quarter. This improvement came on the back of solid spot gas prices in key markets such as Sydney and Victoria, underpinned by seasonal demand and tight supply conditions.
Jane Norman, managing director and chief executive of Amplitude Energy, expressed satisfaction with how the plant maintenance programs are progressing. She confirmed that both facilities remain on track to return to full operational capacity within the expected timeframe.
The company remains focused on maximising asset performance and operational reliability as part of its broader strategy for the year. While the temporary decline in output was anticipated, the stability in gas pricing has helped soften the financial impact.
Amplitude Energy continues to monitor domestic gas market dynamics closely, as pricing signals remain constructive in the near term. With firm energy demand and supply constraints playing out across the east coast, the company appears well-positioned to benefit once plant operations normalise.
Looking ahead, investors will be watching for updates on production volumes in the June quarter and the timing of full restoration at both facilities. As long as the maintenance schedule stays on track, Amplitude Energy is expected to resume stronger output performance in the second half of the financial year.
