Amplify Energy and Juniper Capital Announce Amendment to the Merger Agreement

Core Viewpoint - Amplify Energy Corp. has amended its merger agreement with Juniper Capital, which includes an additional cash contribution of $10 million from Juniper to reduce the net debt of the combined companies, reflecting confidence in the merger's long-term value creation [2][3][5]. Financial Contributions and Debt Management - Juniper will contribute an incremental $10 million in cash to further reduce the net debt of the combined companies [3][4]. - At closing, Amplify plans to issue approximately 26.7 million shares of common stock to Juniper and assume about $133 million in net debt [3][19]. Hedge Positions and Risk Mitigation - Amplify has hedged 80-85% of its oil production for 2025 and 40-45% for 2026, while Juniper has hedged 65-70% for 2025 and 50-55% for 2026 [7]. - The present worth of Amplify's hedges is approximately $25 million, and Juniper's hedges are valued at about $14 million [7]. Updated Reserve Values - The total proved reserve PV-10 value of Juniper's audited reserves is estimated at $356 million, assuming WTI oil prices at $60 per barrel and Henry Hub gas prices at $3.50 per mmbtu [10][11]. - Combining Juniper's proved developed PV-10 value of $230 million with its hedge book value results in a total value of $244 million, compared to pro forma debt of approximately $123 million after Juniper's cash contribution [11]. Shareholder Engagement and Meeting - A Special Meeting of Stockholders is scheduled for April 23, 2025, to approve the merger proposals [14]. - The Board of Directors recommends shareholders vote "FOR" the merger proposals outlined in the definitive proxy statement [16].