What Amplitude Energy does

Amplitude Energy Limited (ASX: AEL; formerly Cooper Energy, rebranded in November 2024) is an Adelaide-headquartered, ASX-listed Australian oil and gas exploration and production company. The company produces natural gas exclusively for the Australian domestic southeast market under a 100% domestic reservation policy aligned with the Federal Government's gas security objectives. Its asset base is concentrated in three basins: the Otway Basin (Victoria offshore) anchored by the Casino, Henry, and Netherby gas fields and the Athena Gas Plant (up to 150 TJ/day processing capacity) near Port Campbell; the Gippsland Basin (Victoria offshore) including the Sole gas field, the Patricia Baleen fields, the BMG decommissioning project, and the Orbost Gas Processing Plant connected to the Eastern Gas Pipeline; and the Cooper/Eromanga Basin (South Australia) where it holds non-operating 25% interests in multiple onshore oil production licences.

The company generates revenue by selling produced gas under long-term binding supply contracts to a small roster of enterprise customers — AGL Energy, Alinta Energy, EnergyAustralia, and industrial manufacturer VISY — and earns secondary income from non-operated Cooper Basin oil production. H1 FY2026 sales revenue reached a record A$141.5 million with underlying EBITDAX of A$100.3 million (up 9% YoY) on FY2026 production guidance of 73-77 TJ/day. The go-to-market motion is direct B2B sales of physical gas molecules, with no retail, export, or LNG exposure. The strategic agenda is to grow domestic supply from ~150 TJ/day current capacity to ~240 TJ/day by 2028 through the East Coast Supply Project joint venture with O.G. Energy, the Annie gas field development, and the Artisan field acquisition, with new supply reserved exclusively for Australian homes, businesses, and industrial users.

Operationally the company employs approximately 150 people across Adelaide (HQ), Perth (projects and operations), Melbourne, and two gas plant sites in regional Victoria. Under CEO Jane Norman (appointed March 2023), production has increased over 25% and unit costs have decreased over 35%. The company voluntarily offsets 100% of residual equity Scope 1 and Scope 2 emissions to position as Australia's first carbon neutral domestic gas producer, and holds Australian Made Campaign certification. The board was substantially refreshed in late 2025 with industry-experienced appointees including former Senex Energy CEO Ian Davies (Chairman) and former Woodside EVP Matthew Ridolfi.

Name

Amplitude Energy

Legal name

Amplitude Energy Limited

Website

https://amplitudeenergy.com.au

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration and Production

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Oil & Gas Field Exploration Services (1382), Gas & Other Services Combined (4932)

akta.pro primary industry

Open-Cycle Gas Turbine (OCGT) / Peaker Generation (EUACABAB)

akta.pro secondary industry

Gas-Fired Power Plant O&M and Life-Extension/Repowering Services (EUACABAJ)

Keywords

• Natural gas production
• Offshore gas exploration
• Domestic gas supply
• Gas processing operations
• Oil and gas production

Headquarters

HQ city

Adelaide

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Gas Production and Sales: Revenue from gas production sold exclusively to the Australian domestic southeast market. Gas accounts for the major share of the company's sales revenue, production and reserves. Record first half FY2026 sales revenue of $141.5 million driven by higher production at Orbost and increased realized gas prices.
2. Oil Production: Low-cost Cooper Basin oil production in South Australia through non-operating joint venture interests. Onshore oil production from multiple fields including Sellicks, Christies-Silver Sands, Callawonga, Parsons, Butlers, Germein, Perlubie, Rincon, Elliston, and Windmill.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Amplitude Energy is an ASX-listed oil and gas exploration and production company that explores, develops, and produces natural gas (and some oil) from offshore and onshore basins in southeastern Australia. The company processes gas through its owned onshore plants (Athena Gas Plant in the Otway Basin and Orbost Gas Processing Plant in the Gippsland Basin) and sells it exclusively to the Australian domestic east coast market under long-term supply contracts with energy retailers and industrial customers.

Product overview

Amplitude Energy is an Australian oil and gas exploration and production company (formerly Cooper Energy) with a portfolio of gas-focused assets across the Otway Basin, Gippsland Basin, and Cooper Basin in southeastern Australia. The company operates a platform of gas production and processing infrastructure, including the Athena Gas Plant (Otway Basin, 150 TJ/day capacity) and Orbost Gas Processing Plant (Gippsland Basin), processing gas from offshore fields including Sole, Casino, Henry, Netherby, Annie, and Artisan. The company also holds non-operated interests in Cooper Basin oil production in South Australia. The East Coast Gas Supply Project aims to deliver up to 90 TJ/day of new gas supply from 2028 through a three-well drilling program. All gas production is dedicated exclusively to the Australian domestic market, with customers including AGL Energy, Alinta Energy, EnergyAustralia and VISY.

Differentiator

Problem solved

Functional benefit

Products and services

• Gippsland Basin Operations Offshore gas exploration, development, and production operations in the Gippsland Basin, Victoria, supplying natural gas exclusively to Australia's domestic east coast market through the Orbost Gas Processing Plant. Includes producing fields such as Sole.
• Otway Basin Operations Gas exploration, development, and production operations in the Otway Basin (onshore and offshore Victoria and South Australia), including the Casino, Henry, and Netherby gas fields, with gas processed through the Athena Gas Plant for the domestic market.
• Cooper Basin Operations Onshore oil production and exploration activities in the Cooper/Eromanga Basin in northeast South Australia, with Amplitude Energy holding non-operating interests (25%) across multiple production licences and exploration leases in the western flank area.
• East Coast Gas Supply Project Major new gas development project targeting supply of up to 90 TJ/day through the Athena Gas Plant from 2028, with gas dedicated to domestic use for Australian energy security. Includes a three-well drilling program in the Otway Basin (including the Annie and Artisan gas field developments).
• Gas Marketing Services Commercialization, sale, and delivery of natural gas to customers including AGL Energy, Alinta Energy, EnergyAustralia, and VISY, ensuring gas reaches homes, businesses, and industrial users through long-term gas supply contracts.

Quantifiable outcome

• FY2026 production guidance of 73-77 TJ/day with record daily production of 71 TJ/day at Orbost
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• O.G. OtwaycoreStrategic or Co-development Partner · 25 May 2026O.G. Otway acquired a 10% stake in the Artisan gas field (VIC/L35) acquisition from Beach Energy alongside Amplitude Energy's 50% interest. Combined with the O.G. Energy joint venture, this strengthens the East Coast Supply Project partnership.
• AGL EnergycoreChannel Partner/ Reseller/ Distributor · 17 April 2026Binding gas supply agreement with AGL Energy for domestic gas supply. Amplitude Energy's stock jumped 6.7% on announcement of this agreement, demonstrating strategic importance of the customer relationship.
• O.G. EnergycoreStrategic or Co-development Partner · 24 March 2025Binding interim joint venture agreement with O.G. Energy for East Coast Gas Supply Project targeting supply of up to 90 TJ/d through the existing Athena Gas Plant from 2028. The joint venture covers Otway Basin development activities including a three-well drilling program.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Tamboran Resources: ASX-listed gas E&P focused on the Beetaloo/McArthur Basin in the Northern Territory. Comparable on gas-only Australian upstream strategy, JV-driven development with majors, and target domestic/near-domestic gas customers.
• Comet Ridge: ASX-listed Queensland-focused upstream gas E&P with Mahalo and other CSG developments. Comparable on dedicated east coast Australian gas-development model and small-mid cap profile.
• Senex Energy: Australian domestic gas-focused E&P (acquired by Hancock/Posco). Directly comparable on dedicated Australian east coast gas supply strategy and on producing from Cooper Basin-style acreage.
• Strike Energy: ASX-listed Perth Basin gas-focused E&P targeting Australian domestic supply. Comparable on being a smaller, gas-pure-play Australian producer with similar regulatory exposure and customer profile to Amplitude.
• Woodside Energy: Australia's largest gas producer post-BHP Petroleum merger, operating Bass Strait, Pluto LNG and Browse. Comparable on offshore gas exploration, production and processing infrastructure, and on supply to Australian customers.
• Santos Limited: One of Australia's largest oil and gas producers with significant east coast and offshore gas operations supplying the same Australian domestic market served by Amplitude. Directly comparable on upstream gas E&P, domestic supply contracts, and processing infrastructure.
• Empire Energy Group: ASX-listed upstream gas E&P focused on the Beetaloo Sub-basin and northern Australia. Similar size and stage profile to Amplitude, with comparable gas-resource, JV-development and east coast/domestic-supply narrative.
• Buru Energy: ASX-listed oil and gas E&P focused on Western Australia's Canning Basin. Comparable on Australian onshore/offshore gas E&P operations, JV-driven development model, and small-mid cap exposure to Australian gas.
• Central Petroleum: ASX-listed Australian gas-focused E&P with onshore gas operations and existing supply contracts to east coast buyers. Directly comparable on gas-exploration and Australian-domestic-supply focus.

Broad incumbents

• Origin Energy: Major Australian integrated energy company with upstream gas production, power generation and retail. Comparable as a broad incumbent operating across exploration/production, processing and gas-fired power — the full value chain Amplitude operates in.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCHDwSxaQIXfOpjNLicA_YhQ
• LinkedInlinkedin.com/company/amplitude-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Amplitude Energy