Amplify Energy (AMPY)

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Amplify Energy (AMPY) - 2025 Q1 - Earnings Call Presentation
2025-05-12 21:14
NYSE: AMPY Amplify Energy Corp. May 2025 Investor Presentation May 12, 2025 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 t ...
Amplify Energy (AMPY) - 2025 Q1 - Quarterly Report
2025-05-12 20:13
Financial Performance - Oil and natural gas sales for Q1 2025 were $70.3 million, a decrease of 6.6% from $75.3 million in Q1 2024[165]. - Net loss for Q1 2025 was $5.9 million, an improvement from a net loss of $9.4 million in Q1 2024[164]. - Adjusted EBITDA for the three months ended March 31, 2025, was $19.444 million, down from $24.901 million in the prior year[186]. - For the three months ended March 31, 2025, the company reported a net loss of $5.861 million, an improvement from a net loss of $9.396 million in the same period of 2024[180]. Production and Sales - Average net production volumes decreased to 17.9 MBoe/d in Q1 2025 from 20.2 MBoe/d in Q1 2024, reflecting a decline of approximately 11.4%[165]. - The average realized sales price increased to $43.76 per Boe in Q1 2025 from $40.89 per Boe in Q1 2024, driven by higher natural gas and NGL prices[165]. - Production volumes for Q1 2025 were approximately 17.9 MBoe/d, down from 20.2 MBoe/d in Q1 2024, indicating a decrease of about 11.4%[203]. - The average realized sales price increased to $43.76 per Boe in Q1 2025 from $40.89 per Boe in Q1 2024, reflecting an increase of approximately 7.3%[203]. Expenses - Lease operating expenses were $37.4 million in Q1 2025, down from $38.3 million in Q1 2024, with per Boe costs rising to $23.28 from $20.78[167]. - General and administrative expenses increased to $10.8 million in Q1 2025 from $9.8 million in Q1 2024, primarily due to higher legal and stock compensation expenses[170]. - The company incurred acquisition and divestiture-related expenses of $1.629 million for the three months ended March 31, 2025, compared to $14,000 in the same period of 2024[186]. - The company expects to incur professional fees and expenses of approximately $3.0 million related to the termination of the contemplated merger with Juniper Capital[189]. Cash Flow and Capital Expenditures - Net cash provided by operating activities increased significantly to $25.501 million for the three months ended March 31, 2025, compared to $7.712 million for the same period in 2024[202]. - Net cash used in investing activities was $21.5 million in Q1 2025, compared to $23.7 million in Q1 2024, showing a reduction of approximately 9.3%[205]. - Total capital expenditures for the three months ended March 31, 2025, were approximately $23.1 million, primarily related to the development program at Beta and drilling activities in East Texas and the Eagle Ford[193]. Debt and Working Capital - As of March 31, 2025, the company had a working capital deficit of $12.5 million, with accrued liabilities of $40.3 million and accounts payable of $19.9 million[195]. - The aggregate principal amount of loans outstanding under the Revolving Credit Facility as of March 31, 2025, was $125.0 million, with $20.0 million available for borrowings[196]. - Net repayments related to the Revolving Credit Facility were $2.0 million in Q1 2025, significantly lower than $25.0 million in Q1 2024[208]. Commodity Derivatives and Market Conditions - The company recognized a net loss on commodity derivative instruments of $14.3 million in Q1 2025, compared to a loss of $16.6 million in Q1 2024[171]. - The company expects commodity prices to remain volatile due to various economic factors, including inflation and geopolitical tensions[153]. - Commodity hedging remains a key strategy for the company, aiming to cover at least 50% - 75% of estimated production from total proved developed producing reserves over a one-to-three-year period[191]. Other Transactions and Events - The company sold certain rights in East Texas for net proceeds of $1.5 million on May 1, 2025[154]. - The contemplated merger with Juniper Capital was terminated on April 25, 2025, with no further effect[155]. - The company received net proceeds of $6.3 million from the purchase and sale of certain rights in East Texas in January 2025[206]. - Shares withheld for taxes amounted to $2.0 million in Q1 2025, compared to $1.7 million in Q1 2024, indicating an increase of approximately 17.6%[208]. - As of March 31, 2025, the company had no off-balance sheet arrangements[209].
Amplify Energy (AMPY) - 2025 Q1 - Quarterly Results
2025-05-12 20:10
Exhibit 99.1 Amplify Energy Announces First Quarter 2025 Results, Beta Development Update and Updated Full-Year 2025 Guidance HOUSTON, May 12, 2025 -- Amplify Energy Corp. (NYSE: AMPY) ("Amplify," the "Company," "us," or "our") announced today its operating and financial results for the first quarter of 2025 and updated full-year 2025 guidance for the Company. Beta Development Program Update 1 Key Financial Results During the first quarter of 2025, the Company reported a net loss of approximately $5.9 milli ...
Amplify Energy Announces First Quarter 2025 Results, Beta Development Update and Updated Full-Year 2025 Guidance
Globenewswire· 2025-05-12 20:05
HOUSTON, May 12, 2025 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify,” the “Company,” “us,” or “our”) announced today its operating and financial results for the first quarter of 2025 and updated full-year 2025 guidance for the Company. Beta Development Program Update Amplify initiated a development drilling program in the prolific Beta oilfield in 2024 to demonstrate the significant upside potential of the asset and generate strong incremental cash flows for the Company, with results to da ...
New Strong Sell Stocks for May 9th
ZACKS· 2025-05-09 11:55
Group 1 - Avanos Medical, Inc. (AVNS) is a medical technology company focusing on delivering medical device solutions, with a Zacks Consensus Estimate for its current year earnings revised 17.7% downward over the last 60 days [1] - Boise Cascade Company (BCC) is a manufacturer of wood products and building materials, with a Zacks Consensus Estimate for its current year earnings revised 1.6% downward over the last 60 days [1] - Amplify Energy Corp. (AMPY) is an explorer and producer of oil and natural gas, with a Zacks Consensus Estimate for its current year earnings revised 48.5% downward over the last 60 days [2]
Amplify Energy to End Merger Deal Amid Extreme Market Volatility
ZACKS· 2025-04-30 18:15
Amplify Energy Corporation (AMPY) , a U.S.-based exploration and production company, recently announced that it has signed a termination agreement with Juniper Capital Advisors, L.P., for their previously announced merger deal. Both parties mutually agreed upon the decision. The decision was primarily influenced by extreme market volatility, likely resulting from recent disruptions in the energy sector.Per the terms of the Termination Agreement, Juniper Capital Advisors is expected to receive $800,000 in ca ...
Amplify Energy Schedules First Quarter 2025 Earnings Release and Conference Call
GlobeNewswire News Room· 2025-04-28 21:50
Core Viewpoint - Amplify Energy Corp. will report its first quarter 2025 financial and operating results on May 12, 2025, after U.S. financial markets close, with a conference call scheduled for May 13, 2025, to discuss the results [1]. Company Overview - Amplify Energy Corp. is an independent oil and natural gas company involved in the acquisition, development, exploitation, and production of oil and natural gas properties [2]. - The company's operations are primarily located in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas/North Louisiana, and the Eagle Ford (Non-op) [2]. Investor Relations - Key contacts for investor relations include Jim Frew, SVP & Chief Financial Officer, and Michael Jordan, Director of Finance and Treasurer [3].
Amplify Energy and Juniper Capital Announce Termination of Merger Agreement
Globenewswire· 2025-04-25 20:15
HOUSTON, April 25, 2025 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) announced today that the Company and Juniper Capital Advisors, L.P. (“Juniper”) have entered into a mutual termination agreement (“Termination Agreement”) to terminate (the “Termination”) the previously announced Agreement and Plan of Merger (the “Merger Agreement”) in light of the extraordinary volatility in the market. In accordance with the terms of the Termination Agreement, Juniper is receiving a ...
Amplify Announces Intention to Further Adjourn Special Meeting of Stockholders
Globenewswire· 2025-04-23 12:45
Meeting further adjourned to May 1, 2025 at 8:00 a.m. Central TimeHOUSTON, April 23, 2025 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) today announced that it intends to open and immediately adjourn its reconvened Special Meeting of Stockholders (the “Special Meeting”) relating to the Company’s proposed merger with Juniper Capital’s upstream Rocky Mountain portfolio companies. There will be no voting or other matters conducted at the meeting on April 23, 2025, and the C ...
Amplify Energy and Juniper Capital Announce Amendment to the Merger Agreement
Newsfilter· 2025-04-15 12:21
Juniper to Contribute Incremental $10 Million in Cash Updates Oil and Gas Hedge Positions and Juniper Reserve Values HOUSTON, April 15, 2025 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE:AMPY) ("Amplify" or the "Company") today announced an amendment to the existing terms of its previously disclosed Agreement and Plan of Merger with Juniper Capital's ("Juniper") upstream Rocky Mountain portfolio companies. The amended agreement will now provide for Juniper to contribute an incremental $10 million of cash t ...