Transocean rig’s drill bit turns as Amplitude opens new chapter in East Coast gas hunt

September 1, 2026, by Melisa Cavcic

Amplitude Energy, an Australian gas production company focused on supplying the Southeast domestic gas market, has begun drilling an exploration well off the coast of Victoria, targeting an estimated 48.8 billion cubic feet (bcf) of prospective gas, as it advances its East Coast Supply Project (ECSP).

Transocean Equinox, former Songa Equinox; Credit: ALP Maritime

Amplitude Energy has started drilling the next well of its ECSP campaign, with the Transocean Equinox rig spudding Juliet-1 on August 22, 2026. This exploration well is located in permit VIC/L24 within Commonwealth waters, adjacent to the existing Casino, Henry, Netherby (CHN) pipeline.

Juliet-1 is targeting 48.8 bcf in gross mean prospective resource from a Waarre C reservoir target. Amplitude Energy owns a 50% interest in VIC/L24, which contains the Juliet prospect, with the remaining 50% held by its joint venture partner, O.G. Energy.

The prospect is supported by high Waarre C reservoir amplitudes, and a clear ‘flat spot’ at approximately 2,300 meters true vertical depth subsea (TVDSS) implying gas-water contact, both of which contribute to a probability of geological success of 84%.

Juliet-1 is expected to take around 20-25 days to drill, subject to operational conditions, to reach a planned maximum total depth of up to about 2,300 meters TVDSS. In the event of a discovery at Juliet, evaluation through logging will be conducted immediately to assess the gas composition and quality of the reservoir.

The well is planned to be cased and completed with a subsea tree upon success, incorporating a flow test, and then suspended ready for development as part of the ECSP. Earlier this year, Amplitude inked a binding deal to buy a 50% interest in VIC/L35, which contains the Artisan gas field in the offshore Otway Basin, from Beach Energy, accelerating target gas production to 2028, together with the ECSP.

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Following a recent amendment to the drilling schedule, the Australian player was expected to receive the Transocean Equinox rig during July-August to conduct the Juliet-1exploration well, followed by the Annie-2 development well.

In addition, a decision on whether to drill the Nestor prospect was set to be made by the Australian firm and O.G. Energy at a later date. The company emphasized previously that exploration success at Juliet and/or Nestor would further improve project economics and enable synergies with Artisan.

The firm owns and operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland basins, close to Australia’s largest gas demand centres, as well as non-operated oil production in the Cooper Basin.

The company also holds an extensive portfolio of exploration and development prospects in the Otway and Gippsland basins, including undeveloped discovered resources, such as the Annie and Manta gas fields, in proximity to the existing infrastructure.