Transocean Equinox to drill Juliet, Annie wells for Amplitude Energy after Otway Basin deal

Amplitude Energy has agreed to acquire a 50% interest in the VIC/L35 production license in the offshore Otway Basin from Beach Energy, with the transaction prompting a revised drilling schedule for the Transocean Equinox semisub currently working the basin.

O.G. Energy will simultaneously acquire a 10% interest on the same commercial terms, giving Amplitude and O.G. Energy aligned 50% stakes in the license, which contains the Artisan gas field. Beach Energy will retain operatorship through completion of the Artisan development well, expected in June 2026, after which Amplitude will assume operatorship.

As a result of the transaction, Beach Energy has cancelled the planned La Bella 2 development well. The Equinox drilling schedule has been adjusted to bring the Artisan well forward, with Amplitude Energy set to receive the rig in July–August to drill the Juliet-1 exploration well, followed by the Annie-2 development well. Amplitude said it will decide at a later date whether to drill the Nestor prospect.