Amplify Energy Announces Divestiture of East Texas Assets

Core Viewpoint - Amplify Energy Corp. is executing a strategic divestiture of its East Texas assets, expecting a total consideration of $127.5 million, which will enhance its balance sheet and allow the company to focus on higher upside opportunities [1][2][3]. Group 1: Transactions Overview - The company has sold its remaining interest in the Haynesville basin for net proceeds of $5.5 million, which closed on October 24, 2025 [6]. - A definitive agreement has been made to sell the remaining Haynesville and Cotton Valley interests for a contract price of $122 million, expected to close by the end of Q4 2025 [6]. Group 2: Strategic Implications - The divestiture aligns with the company's strategic plan to simplify its portfolio and enhance liquidity, with proceeds aimed at debt reduction [2][3]. - Following the completion of the East Texas transaction, the company anticipates a significant reduction in general and administrative costs [2]. Group 3: Leadership Insights - The CEO of Amplify Energy emphasized the importance of this transaction in unlocking value from the company's most promising areas, specifically Beta and Bairoil [3]. - The CEO also acknowledged the efforts of the team in executing these transactions while maintaining safe and efficient operations [3]. Group 4: Company Profile - Amplify Energy Corp. is an independent oil and natural gas company focused on the acquisition, development, and production of oil and natural gas properties, primarily in Southern California, the Rockies, and Oklahoma [4].