Cooper Energy Limited ( (COPJF) ) has released its Q2 earnings. Here is a breakdown of the information Cooper Energy Limited presented to its investors.
Amplitude Energy Limited, formerly known as Cooper Energy Limited, is an Australian company engaged in the exploration, development, and production of gas and oil, primarily operating in the Gippsland, Otway, and Cooper basins. The company is notable for its focus on domestic gas supply and its strategic infrastructure in Victoria.
In its latest earnings report for the half-year ending December 2024, Amplitude Energy Limited reported a significant turnaround with a statutory profit of A$7.6 million compared to a loss of A$90.8 million in the previous corresponding period. This improvement was driven by a 26% increase in revenue to A$133.7 million, attributed to higher gas sales volumes and prices.
Key financial highlights include a 53% increase in underlying EBITDAX to A$93.2 million, reflecting enhanced gas production and improved operational efficiencies. The company also reported a record gas and oil production of 13.5 PJe, a 20.8% increase from the previous year. However, crude oil production saw a decline due to natural field depletion.
Amplitude Energy continues to focus on strategic projects such as the East Coast Supply Project, aiming to enhance gas supply in Southeast Australia by 2028. The company is also progressing with the Orbost Improvement Project, which has significantly improved plant reliability and reduced operational costs.
Looking ahead, Amplitude Energy remains committed to its strategy of maximizing production and exploring new gas storage opportunities. The management is optimistic about sustaining growth through ongoing operational improvements and strategic investments in infrastructure and exploration.
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