Amplify Energy (US:AMPY) GlobeNewswire News Roomยท2025-07-22 10:00Core Viewpoint - Amplify Energy Corp. is focusing on strategic initiatives to simplify its portfolio, reduce debt, and enhance shareholder value through divestitures and operational optimization [2][3][5]. Strategic Initiatives - The company is committed to simplifying its portfolio and focusing on attractive investment opportunities to create shareholder value [2]. - Amplify has engaged TenOaks Energy Advisors to explore the divestiture of its assets in East Texas and Oklahoma, aiming to reduce debt and lower general and administrative costs [3]. - The potential sale of these assets is expected to allow Amplify to accelerate its development program at Beta and pursue cost-saving opportunities at Bairoil [4]. Executive Leadership Changes - Effective July 22, 2025, Martyn Willsher has stepped down as President and CEO, with Dan Furbee promoted to CEO and Jim Frew promoted to President and CFO [5][6]. - The Board of Directors believes the new leadership team can effectively implement the focused strategic plan [6]. Company Overview - Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, and production of oil and natural gas properties, with operations primarily in Oklahoma, the Rockies, federal waters offshore Southern California, and East Texas/North Louisiana [7].