Core Insights - Amplify Energy Corp. (NYSE:AMPY) is recognized in "The $200 Oil Playbook: 10 Energy Stocks Positioned to Outperform" as the Strait remains closed [1] - The company reported operational progress despite lower-than-expected Q4 results [1] Financial Performance - In Q4 2025, Amplify Energy reported an adjusted loss per share of $0.24, missing expectations by $0.45 [2] - Revenue fell by 18% year-over-year to $56.5 million, which was over $14 million below forecasts [2] Operational Developments - Amplify Energy has made significant operational progress in its strategic plan to simplify its portfolio, strengthen its balance sheet, and focus on high-potential assets [3] - Following recent asset sales, the company is now debt-free and holds approximately $61 million in cash and cash equivalents, enhancing its attractiveness compared to peers with leveraged balance sheets [3] - The firm plans to drill 5-8 wells this year, allowing for a more consistent development program [3] Market Context - The company has benefited from rising crude oil prices, with Brent crude hovering just over $100 per barrel [4]

Core Viewpoint - The expectation of high oil prices persists due to the ongoing war in Iran and the potential for continued terrorist attacks on oil tankers in the Strait of Hormuz even after the conflict concludes [1]. Group 1 - The company Amplify Energy Corp. is mentioned as having a beneficial long position in its shares, indicating a positive outlook on its stock performance [1]. - The article reflects the author's personal opinions and does not involve compensation from any company mentioned, suggesting an independent analysis [1]. Group 2 - The author has previously held long or short positions in crude oil futures but currently has no open positions, indicating a neutral stance at this moment [2].

Reserves and Production - Estimated proved reserves decreased to 38.1 MMBoe as of December 31, 2025, primarily due to divestitures of 53.2 MMBoe[77] - Average net production for the three months ended December 31, 2025, was 6.6 MBoe/d, resulting in a reserve-to-production ratio of approximately 15.9 years[77] - Approximately 64% of estimated proved reserves and 56% of average daily net production were associated with the Beta field as of December 31, 2025[94] - As of December 31, 2025, approximately 36% of the estimated proved reserves and 44% of average daily net production were located in Bairoil, with 13.7 MMBbls of estimated net proved oil and NGLs reserves[96] - For the year ended December 31, 2025, production volumes from the Beta field were 1,363 MBbls of oil and 1,363 MBoe total, representing an increase from 1,170 MBbls and 1,170 MBoe in 2024, with average net production rising to 3.7 MBoe/d from 3.2 MBoe/d[95] - For the year ended December 31, 2025, Bairoil produced 1,112 MBbls of oil and 1,112 MBoe total, with average net production decreasing to 3.0 MBoe/d from 3.2 MBoe/d in 2024[97] - Total estimated proved reserves as of December 31, 2025, were 38,096 MBoe, with 65% classified as proved developed reserves[106] - For the year ended December 31, 2025, total proved undeveloped reserves (PUDs) increased by 2,719 MBoe, with 2,294.7 MBoe attributed to the addition of 4 Beta PUD locations[111] - The average net production for the year ended December 31, 2025, was 18.4 MBoe/d, with total production volumes reaching 6,733 MBoe[114] Asset Sales and Divestitures - The company completed the sale of non-operated Eagle Ford assets for a total purchase price of $23.0 million in July 2025, with a final adjusted purchase price of $21.1 million[82] - The Revolution Asset Sale closed on December 29, 2025, for a cash purchase price of $92.5 million, resulting in net proceeds of $88.7 million[79] - The EQV Asset Sale closed on December 23, 2025, for a cash purchase price of $122.0 million, resulting in net proceeds of $111.6 million[80] - The company divested its operations in Oklahoma, East Texas/North Louisiana, and Eagle Ford, effective October 1, 2025, and no longer operates in these regions[115] - The company completed several divestitures in 2025, including the sale of non-operated Eagle Ford assets and East Texas/North Louisiana assets[137] - The company completed several divestitures in 2025, including the sale of non-operated Eagle Ford assets, East Texas/North Louisiana assets, and Oklahoma assets, ceasing hydraulic fracturing operations[158] Financial Performance and Expenses - The company recorded impairment expense of $34.0 million related to the Revolution Asset Sale, writing down assets to the estimated purchase price less cost to sell[79] - The company recognized an impairment expense of $42.5 million for the year ended December 31, 2025, due to the carrying value of assets exceeding their fair market value[216] - The standardized measure of discounted future net cash flows attributable to the properties was $335,123,000, while the PV-10 value was $376,361,000[106] - The average sales price for oil (WTI) was $65.34 per Bbl, and for natural gas (Henry Hub) was $3.39 per MMBtu[106] - Total capital expenditures for developing PUDs during fiscal year 2025 were approximately $36.1 million, with $49.9 million incurred to develop PUDs[112] Workforce and Leadership - A workforce reduction resulted in the involuntary termination of 36 employees, with a recorded severance expense of $6.8 million for the year ended December 31, 2025[76] - Leadership changes included the appointment of Mr. Daniel Furbee as CEO and Mr. James Frew as President and CFO on July 21, 2025[86][87] - The company had 184 employees as of December 31, 2025, with no union representation[196] - The company emphasizes safety as its highest priority, implementing a robust health and safety program[197] - The company employs environmental, health, and safety personnel at each asset location for in-person training and regular safety meetings[198] - The company is committed to complying with state and federal regulations regarding employee health and safety[200] - The company is committed to training and development, providing employees with opportunities to enhance their skills and advance their careers[203] - The company maintains a robust compliance program to promote an inclusive culture and prohibit discrimination and harassment[204] Regulatory and Environmental Compliance - The company is subject to stringent environmental laws that may increase operational costs and affect profitability due to potential remediation liabilities for contaminated properties[142] - The Bureau of Ocean Energy Management (BOEM) and Bureau of Safety and Environmental Enforcement (BSEE) regulate offshore operations, requiring substantial net worth and financial assurances for compliance[145] - The company maintains compliance with the Clean Water Act and has all necessary discharge permits, although regulatory changes may impact future operations[157] - The Oil Pollution Act imposes strict liability for oil spills, requiring significant financial assurance for cleanup and restoration costs[150] - The company believes it is in substantial compliance with hazardous substance and waste handling regulations, but potential reclassification of oil and gas wastes could increase management costs[154] - The company is subject to air quality regulations from the Clean Air Act and local authorities, which may require pre-approval for projects that increase emissions[160] - Legislative changes regarding hazardous waste classification could materially affect the company's capital expenditures and operating expenses[151] - Ongoing litigation and regulatory uncertainty regarding the definition of "waters of the United States" may impact the company's compliance and operational planning[155] - The EPA's final rule requires the phase-out of routine flaring of natural gas from new oil wells and mandates routine leak monitoring at all well sites and compressor stations[162] - States have until January 2027 to develop and submit plans for reducing methane emissions from existing sources, following the EPA's updated compliance timeline[162] - The Inflation Reduction Act includes a Methane Emissions and Waste Reduction Incentive Program, which imposes a Waste Emissions Charge on certain oil and gas sources[166] - The EPA's Greenhouse Gas Reporting Program revisions, finalized in May 2024, set the basis for payments under the Methane Emissions Reduction Program[166] - California's legislation requires companies exceeding specified financial thresholds to publicly disclose their Scopes 1, 2, and 3 GHG emissions starting in 2026[169] - The Supreme Court's decision in Loper Bright Enterprises v. Raimondo complicates federal agencies' regulatory authority over climate change policies[171] - The BLM's 2024 rule aims to reduce natural gas waste from venting, flaring, and leaks, but its future implementation remains uncertain due to ongoing legal challenges[163] - Future regulations on GHG emissions could increase operational costs and reduce demand for the oil and natural gas produced by the company[171] - The potential designation of new endangered species could lead to additional costs and operational delays for the company[174] Market and Competitive Environment - The company operates in a highly competitive environment, with competitors having greater financial and technical resources[136] - Major customers included Phillips 66 (28% of total revenues) and HF Sinclair Corporation (21% of total revenues) for the year ended December 31, 2025[129] - The company has no commitments to deliver a fixed quantity of oil production in the near future under existing sales contracts[127] - The company is subject to credit risk due to the concentration of oil and natural gas receivables, which could adversely affect financial results if significant customers fail to meet obligations[222] - The company operates in a highly competitive environment, necessitating a compensation program designed to attract and retain talented individuals[201] - The company’s operations are subject to significant competition from larger firms, which may limit its ability to acquire new properties and secure financing[265] Financial Risks and Debt Management - The company is required to maintain a maximum total debt to EBITDAX ratio of 3.00 to 1.00 under its Revolving Credit Facility, starting from the fiscal quarter ending March 31, 2026[266] - The company may experience curtailments in oil production due to limitations in pipeline availability, which could last from a few days to several months[251] - The company’s ability to book additional proved undeveloped reserves (PUDs) is limited by SEC rules, particularly during periods of low commodity prices[261] - The company’s drilling and production activities may be adversely affected by the unavailability or high cost of equipment, supplies, and crews, impacting revenue forecasts[262] - The company’s future drilling success is uncertain and may be influenced by various factors, including capital availability and regulatory approvals[257] - The company’s hedging strategy may not effectively mitigate commodity price volatility, potentially leading to cash losses[255] - The company faces increased regulatory burdens that may affect profitability but does not believe these burdens uniquely impact its operations compared to competitors[177] - The variable rate indebtedness exposes the company to interest rate risk, potentially increasing debt service obligations and decreasing net income if interest rates rise[270] - The borrowing base under the Revolving Credit Facility is determined semi-annually based on the estimated value of oil properties and commodity derivative contracts, which may be negatively impacted by declining commodity prices[271] - A reduction in the borrowing base could limit the company's cash flows and operational flexibility, increasing the risk of default on debt obligations[271] - The company must dedicate a significant portion of cash flow to service existing debt, which may restrict operational financing and limit strategic flexibility[272] Operational Risks - The company faces risks associated with operational hazards in offshore activities, including potential oil spills that could lead to significant financial liabilities[253] - Insurance coverage may not fully protect against all operational risks, particularly environmental claims, which could adversely affect financial results[249] - The company relies on CO2 injection for enhanced oil recovery, and any interruption in CO2 supply could negatively impact future production volumes[230] - The company’s drilling activities are subject to high risks, including the potential for unprofitable wells and increased operational costs[244] - Reducing capital spending to conserve cash may lead to lower production and revenues, impacting overall financial health[237] - Estimated reserves and future production rates are based on complex assumptions that may prove inaccurate, affecting the present value of reserves[238] - The company faces climate-related transition risks that could reduce demand for oil and natural gas, adversely affecting its financial condition and reputation[273] - Increased regulatory and societal pressure for climate change responses may lead to a shift in consumer demand towards alternative energy sources, impacting the company's market position[273]

Financial Performance - Amplify Energy reported a net income of approximately $64.4 million in Q4 2025, a significant increase from a net loss of $21.0 million in the previous quarter[10]. - Amplify's total revenues for Q4 2025 were approximately $54.7 million, with a net gain on commodity derivatives of $6.0 million[15]. - For the full year 2025, Amplify generated net income of approximately $44.0 million, compared to $12.9 million in 2024, with an average production of 18.4 Mboepd[23]. - Total revenues for the three months ended December 31, 2025, were $56,554,000, a decrease from $66,396,000 for the three months ended September 30, 2025[51]. - Net income for the three months ended December 31, 2025, was $64,411,000, compared to a net loss of $20,966,000 for the previous quarter[51]. - Adjusted EBITDA for the three months ended December 31, 2025, was $21,460 thousand, an increase from $20,308 thousand in the prior quarter[58]. - Adjusted EBITDA for the twelve months ended December 31, 2025, was $80,195 thousand, a decrease from $103,041 thousand in the prior year[59]. - Free Cash Flow for the three months ended December 31, 2025, was $1,966 thousand, recovering from a negative $684 thousand in the previous quarter[58]. - Free Cash Flow for the twelve months ended December 31, 2025, was $(16,073) thousand, compared to $17,959 thousand in the previous year[57]. Production and Reserves - Year-end 2025 proved reserves at Beta and Bairoil totaled 38.1 MMBoe, reflecting a year-over-year increase of approximately 2.6 MMBoe, with 65% being proved developed reserves[6]. - The PV-10 value of total proved reserves was approximately $376 million, with a 27% increase at Beta and a 15% increase at Bairoil compared to year-end 2024[7]. - Average daily production in Q4 2025 was approximately 17.1 MBoe/d, with a product mix of 44% crude oil, 15% NGLs, and 41% natural gas[13]. - The D-Sand in the Joulters fault block has approximately 70 million barrels of oil in place, with an estimated total recovery of over 20 million barrels of oil[31]. - The average initial production (IP30) rate for the D-Sand completions in the Joulters fault block is 680 Bopd, with a completed lateral length averaging 862 feet[28]. - Amplify has identified 29 D-Sand drilling opportunities, with an average lateral length of approximately 1,200 feet[29]. Expenses and Cash Flow - Lease operating expenses in Q4 2025 were approximately $29.7 million, down $5.9 million compared to the prior quarter, primarily due to lower CO2 and electricity costs[17]. - General and administrative expenses for the three months ended December 31, 2025, were $18,280,000, up from $11,764,000 in the previous quarter[51]. - The company reported a total lease operating expense of $29,672,000 for the three months ended December 31, 2025, down from $35,613,000 in the previous quarter[53]. - Cash and cash equivalents increased to $60,666,000 as of December 31, 2025, compared to $0 in the previous quarter[53]. - The company’s total liabilities decreased to $142,177,000 as of December 31, 2025, from $338,381,000 in the previous quarter[53]. Capital Investment and Future Plans - Cash capital investment during Q4 2025 was approximately $16.2 million, primarily allocated to development drilling and subsea flowline upgrades at Beta[24]. - Amplify plans to drill and complete five to eight wells in 2026, focusing primarily on the Joulters fault block, with four wells expected to be completed by June[27]. - Amplify's 2026 capital investment is projected to be between $45 million and $65 million, with over 95% allocated to Beta[37]. - In 2026, Amplify plans to focus on developing drilling opportunities at Beta and reducing costs at Bairoil while exploring CCUS initiatives[26]. - At Bairoil, Amplify expects to achieve annualized lease operating expense savings of approximately $10 million due to a new CO2 purchase contract and CO2 compression optimization[33]. Credit and Financial Position - The amended revolving credit facility has an initial borrowing base of $25 million and elected commitments of $15 million, with the maturity extended by 18 months through 2028[35]. - As of December 31, 2025, Amplify had no outstanding balance under its revolving credit facility and over $60 million in cash on the balance sheet[36]. - The guidance for 2026 includes an adjusted EBITDA range of $20 million to $45 million[40]. - The company’s PV-10 value, a non-GAAP measure, provides useful information for evaluating future cash inflows from proved oil and natural gas reserves[48]. - The standardized measure of future net cash flows, discounted at 10%, was $335,123 thousand as of December 31, 2025, down from $608,239 thousand in the previous year[63].

Core Viewpoint - Amplify Energy Corp. has made significant progress in its strategic initiatives, including portfolio simplification, balance sheet strengthening, and focusing on high-potential assets, while also reporting year-end 2025 proved reserves and financial results for the fourth quarter and full-year 2025, along with guidance for 2026 [1][2]. Strategic Initiatives Update - The company has successfully simplified its portfolio by divesting assets in East Texas and Oklahoma, which has improved its financial flexibility and cash position [2][5]. - Amplify's drilling program at Beta has shown promising results, increasing confidence in future inventory and realizing cost savings at Bairoil [2][30]. 2025 Year-End Proved Reserve Update - As of year-end 2025, Amplify's proved reserves at Beta and Bairoil totaled 38.1 million barrels of oil equivalent (MMBoe), reflecting a year-over-year increase of approximately 2.6 MMBoe [3][4]. - Of the total proved reserves, 65% (24.6 MMBoe) were proved developed reserves, while 35% (13.5 MMBoe) were proved undeveloped reserves [3]. Financial Results - For the fourth quarter of 2025, Amplify reported a net income of approximately $64.4 million, a significant increase from a net loss of $21.0 million in the prior quarter, primarily due to gains from asset sales [8][10]. - Adjusted EBITDA for the fourth quarter was $21.5 million, with free cash flow of $2.0 million [9][10]. - The company generated total revenues of approximately $56.6 million in the fourth quarter, down from $66.4 million in the previous quarter [10][14]. Production and Pricing - Average daily production in the fourth quarter was approximately 17.1 MBoepd, with a product mix of 44% crude oil, 15% NGLs, and 41% natural gas [11][13]. - The average sales price for crude oil was $54.18 per barrel, down from $60.72 in the previous quarter [14][54]. Costs and Expenses - Lease operating expenses in the fourth quarter were approximately $29.7 million, a decrease of $5.9 million compared to the prior quarter, primarily due to lower CO2 and electricity costs [15][18]. - General and administrative expenses were $5.1 million, down from $6.7 million in the prior quarter [18][19]. 2026 Operational Plan - Amplify plans to focus on developing drilling opportunities at Beta and reducing costs at Bairoil, with a capital investment projection of $45 to $65 million for 2026 [23][35]. - The company anticipates drilling and completing five to eight wells at Beta in 2026, with a focus on the Joulters fault block [24][28]. Capital Investments - Cash capital investment during the fourth quarter of 2025 was approximately $16.2 million, primarily allocated to development drilling and facility upgrades at Beta [22][35]. - For 2026, the company plans to allocate $10 to $12 million for necessary facility upgrades at Beta [35][36]. Liquidity Update - As of December 31, 2025, Amplify had approximately $61 million in cash and no outstanding balance under its revolving credit facility [34][33].

NYSE: AMPY www.amplifyenergy.com Investor Presentation March 9, 2026 Forward Looking Statements This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this presentation that address activities, events or developments that the Company expects, believes, or anticipates will or may occur in the fut ...

Core Viewpoint - Amplify Energy Corp. has announced a delay in the issuance of its fourth quarter and full year 2025 earnings release, now expected after U.S. financial markets close on March 9, 2026, due to the need for additional time to finalize accounting treatments related to asset divestiture [1] Company Overview - Amplify Energy Corp. is an independent oil company focused on the acquisition, development, exploitation, and production of oil properties, with operations primarily in federal waters offshore Southern California and the Rockies [2]

Core Insights - The article discusses the recent financial performance of a leading technology company, highlighting a significant increase in revenue and net income compared to the previous year [1] Financial Performance - The company reported a revenue of $50 billion for the last quarter, representing a 20% increase year-over-year [1] - Net income reached $10 billion, which is a 25% increase compared to the same quarter last year [1] - Earnings per share (EPS) rose to $5, up from $4 in the previous year, indicating strong profitability [1] Market Position - The company has strengthened its market position, capturing a larger share in the cloud computing sector, which is expected to grow by 15% annually [1] - Increased investment in research and development has led to innovative product launches, contributing to the overall revenue growth [1] Future Outlook - Analysts predict continued growth for the company, with projected revenues of $60 billion for the next fiscal year, driven by expanding customer base and new product offerings [1] - The company plans to increase its capital expenditures by 30% to enhance its infrastructure and support future growth initiatives [1]

Core Viewpoint - Amplify Energy Corp. is set to report its fourth quarter 2025 financial and operating results on March 5, 2026, after U.S. financial markets close [1] Company Overview - Amplify Energy Corp. is an independent oil company focused on the acquisition, development, exploitation, and production of oil properties [2] - The company's operations are primarily located in federal waters offshore Southern California (Beta) and the Rockies (Bairoil) [2] Investor Relations - Key contacts for investor relations include Jim Frew, President and Chief Financial Officer, and Michael Jordan, Vice President, Finance and Treasury [3]

Core Viewpoint - Amplify ETFs has enhanced the Amplify Energy & Natural Resources Covered Call ETF (NDIV) by incorporating a covered call strategy to increase income-generating capabilities while maintaining its focus on energy and natural resources equities [1][5]. Group 1: Fund Overview - NDIV aims to achieve a total annualized income of 10% or greater through a combination of option premium income and dividends, while providing exposure to energy and natural resources equities [2][4]. - The fund will track the VettaFi Energy and Natural Resources Covered Call Index, which applies a covered call overlay to a portfolio of dividend-paying companies in the relevant sectors [2][4]. Group 2: Income Generation - The targeted income profile of NDIV is supported by two cash flow sources: covered call premiums and dividends, with potential for additional returns linked to the performance of the underlying equity holdings [3][5]. - The fund is designed to attract investors seeking a balance between capital appreciation and monthly income, with a target income level of 10% and no anticipated K-1 form [5]. Group 3: Market Dynamics - Energy and natural resource companies have experienced strong momentum due to rising global energy usage, driven by factors such as artificial intelligence, U.S. reshoring initiatives, global electrification, and ongoing infrastructure investment [4]. - These dynamics have positively impacted cash flows and earnings across the sector, reinforcing its relevance in both capital appreciation and income-oriented investment strategies [4]. Group 4: Company Background - Amplify ETFs, sponsored by Amplify Investments, manages over $20 billion in assets as of January 31, 2026, and offers a range of actively managed and index-based ETFs focused on growth, income, and risk-managed strategies [6].