Energy
Amplitude reports positive drilling data at offshore australian well
Amplitude Energy has completed drilling operations at the Annie-2 well offshore Victoria, pointing to enhanced reservoir metrics.
Key points
- Annie-2 reached a measured depth of 2,253m in late October.
- Data shows higher permeability, porosity, and deliverability than the initial discovery.
- The well will be suspended ahead of integration into the East Coast Supply Project.
What happened
According to Offshore Technology, Amplitude Energy has finished and cased its Annie-2 development well located off the coast of Victoria in Australia. The boring operation attained a measured depth of 2,253m on 28 October, followed by clean-up procedures in early November. The company is now suspending the borehole prior to its incorporation into the East Coast Supply Project.
Preliminary evaluations conducted by the operator indicate that the reservoir possesses superior porosity, permeability, and deliverability compared to the original discovery made at Annie-1 in 2019. Gas samples retrieved from the site displayed chemical compositions consistent with prior findings in permit VIC/L37. Furthermore, the drilling campaign has progressed ahead of schedule and under budget without touching general contingency funds.
Following these operations, the Transocean Equinox rig is scheduled to relocate to the Nestor exploration prospect to drill the final target of the current campaign. Amplitude Energy holds a 50% operating interest in the VIC/L37 permit, with O.G. Energy holding the remaining share.
What comes next
Management will continue evaluating reserve estimates for both the Annie and Juliet deposits over the coming weeks. The final investment decision for the development phase of the East Coast Supply Project was reached in September, maintaining a target for first gas production by 2028. Additional resource upside remains contingent upon forthcoming exploration results at the Nestor well.
Why it matters
For international energy investors, offshore developments in established basins continue to offer vital supply additions for regional markets facing domestic depletion. While this Australian project is geographically distant from African energy corridors, the efficient management of capital expenditures and adherence to project timelines demonstrate operational benchmarks relevant to upstream operators globally. Global energy markets currently balance against liquid benchmarks, with Henry Hub gas spot prices recorded at 2.63 US$ per MMBtu by the US EIA in November 2026. Ensuring timely delivery from new gas fields remains critical for maintaining long-term supply adequacy across industrial economies.
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