May 24, 2026, 8:00 PM EDT. Amplitude Energy (ASX: AEL) is purchasing a 50% interest in the Artisan gas field from Beach Energy (ASX: BPT) for $58.3 million net plus a production royalty, aiming to accelerate its East Coast Supply Project (ECSP). The deal, also involving O.G. Energy acquiring 10%, will boost Amplitude's equity production by up to 60%, targeting first gas in 2028. Integration with existing infrastructure is expected to cut costs. The transaction is conditioned on the Artisan well completion in June 2026, regulatory approvals, and the ECSP Final Investment Decision. Amplitude will assume operatorship post-acquisition, with the gas sale agreements in place. The move is expected to enhance net asset value (NAV) and earnings from production start, supporting Amplitude's strategy for ECSP growth.
