Amplitude Energy (ASX:AEL) reported record sales revenue of AU$67.9 million for the fiscal second quarter, rising from AU$55 million it reported in the prior-year period, according to a Wednesday Australian bourse filing.
The firm's total gas and liquids volumes sold for the fiscal second quarter averaged 71.9 terajoules equivalent per day (TJe/d), or 6.6 petajoules equivalent (PJe), 3% lower than the previous quarter.
Analysts polled by FactSet expected sales of AU$62.3 million over the period.
The higher total gas and oil sales revenue was predominantly driven by higher spot sales with the firm reporting record quarterly spot gas sales and average realized gas prices. It reduced its net debt over the period to AU$254.2 million.
Its quarterly gas and oil production averaged 72.5 TJe/d, or 6.67 PJe for the quarter, 3% lower than the prior quarter.
Chief Executive Jane Norman said the firm started sales into the Sydney spot gas market in addition to the Victorian market over the period.
Its shares fell past 1% in early trading on Wednesday.
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