Financial Data and Key Metrics Changes - Production for Q4 2021 averaged approximately 20,800 BOE per day, a decrease from 25,100 BOE per day in Q3 2021, primarily due to the suspension of operations at Beta [11] - Total oil, natural gas, and NGL revenues in Q4 2021 were approximately $86.3 million, down from $96.8 million in Q3 2021 [12] - Adjusted EBITDA in Q4 totaled $10.8 million, approximately $16 million less than the previous quarter [14] - Cash capital spending for Q4 was approximately $3.5 million, a decrease of $7 million from Q3 2021 [15] - Net debt as of February 28, 2022, was approximately $203 million [18] Business Line Data and Key Metrics Changes - Oil volumes decreased due to the suspension of operations at Beta, which produced an average of 3,700 barrels of crude oil per day in Q3 2021 [11] - Lease operating expenses for Q4 were approximately $29.4 million, or $15.34 per BOE, a decrease from $34.5 million or $14.92 per BOE in Q3 [12] - General and administrative expenses totaled $6.2 million or $3.24 per BOE in Q4, compared to $5.8 million or $2.50 per BOE in Q3 [14] Market Data and Key Metrics Changes - The company is approximately 70% hedged for the balance of 2022 and 40% hedged in 2023 across all commodities, with crude oil production approximately 90% to 100% hedged for the remainder of the year [16] - The year-end 2021 proved reserves were approximately 121 million barrels of equivalent with a PV-10 value of $920 million based on SEC pricing [19] Company Strategy and Development Direction - The company is focused on returning the Beta field to production and has modified future development plans due to the incident [20] - Guidance for full-year 2022 average daily production is forecasted to range from 18,500 to 20,500 BOE per day [20] - The company plans to allocate the majority of free cash flow to improving the balance sheet and reducing total debt outstanding [18][25] Management's Comments on Operating Environment and Future Outlook - Management expressed gratitude for the collaboration with regulatory agencies during the Southern California pipeline incident response [7] - The company remains committed to safely operating and protecting the environment while working to bring the Beta field back online [10] - Management believes the company is undervalued in the current market due to significant reserve value and cash flow generation potential [24] Other Important Information - The company filed complaints against two shipping companies and vessels responsible for the pipeline damage [9] - The company has received approximately $50 million in insurance for costs incurred due to the incident, with an additional $22.1 million collected by March 1 [36] Q&A Session Summary Question: How much insurance payments are included in the guidance numbers? - Management projected approximately $4.4 million per month for LOPI insurance payments for the full 12 months [26] Question: Why is the revolver being reduced by $5 million a month? - The bank group requested a reduction in the revolver starting in February 2022 due to the incident and ongoing assessments [32] Question: How much has been incurred regarding the $90 million to $110 million of associated costs? - Approximately $99 million of average costs were incurred through December 31, with about $40 million spent by the company in 2021 [36][37] Question: What is the expected timeline for Beta to restart production? - Management indicated that if permits are received soon, production could resume by July, but this is contingent on regulatory approvals [39] Question: What federal permits are required for the Beta pipeline? - The company is waiting on two federal permits from PHMSA and the Corps of Engineers for the repair [42] Question: Who is the operator of the non-operated Eagle Ford asset? - The primary operator is Murphy, with other operators including Devon, BPX, and Marathon [44]

Amplify Energy Corp. (NYSE:AMPY) Q2 2021 Earnings Conference Call August 5, 2021 11:00 AM ET Company Participants Jason McGlynn – Senior Vice President and Chief Financial Officer Martyn Willsher – President and Chief Executive Officer Conference Call Participants John White – ROTH Capital Operator Welcome to Amplify Energy's Second Quarter 2021 Investor Conference Call. Amplify's operating and financial results were released yesterday after market close on August 4, 2021 and are available on Amplify's webs ...

Amplify Energy Corp (NYSE:AMPY) Q1 2021 Earnings Conference Call May 6, 2021 11:00 AM ET Company Participants Jason McGlynn – Senior Vice President and Chief Financial Officer Martyn Willsher – President and Chief Executive Officer Conference Call Participants John White – ROTH Capital Operator Welcome to Amplify Energy’s First Quarter 2021 Investor Conference Call. Amplify’s operating and financial results were released yesterday after market close on May 5, 2021 and are available on Amplify’s website at w ...