Summary
Amplify Energy Sells Its East Texas Assets And Eliminates Most Of Its Debt
Amplify is selling its East Texas assets for $127.5 million. This should pay off most of its $130 million in credit facility debt. If Amplify can get $110 million to $120 million for its Oklahoma assets, that would put it in good shape to help pay for future Beta development.
Amplify Energy: Aiming For Large Divestitures To Eliminate Debt And Focus On Beta Development
Amplify is attempting to sell its Oklahoma and East Texas assets. This should put it in a net cash position, with the ability to accelerate Beta development. Amplify would then be a 100% oil company, with increased Beta volumes driving its results.
Amplify Energy (AMPY) Reports Q2 Loss, Tops Revenue Estimates
Amplify Energy (AMPY) came out with a quarterly loss of $0.1 per share versus the Zacks Consensus Estimate of $0.02. This compares to earnings of $0.17 per share a year ago.
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Amplify Energy Corp. Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | Daniel Furbee CEO | NYSE Exchange | 03212B103 CUSIP |
| US Country | 229 Employees | 30 Mar 2020 Last Dividend | 4 Aug 2015 Last Split | 20 Apr 2012 IPO Date |
Overview
Amplify Energy Corp. is an established energy company that dedicates its operations to the acquisition, development, exploitation, and production of oil and natural gas properties across the United States. With its headquarters located in Houston, Texas, Amplify Energy Corp. showcases a strong footprint in key energy-producing regions. The company's strategic approach involves both operating and holding non-operated working interests in a diverse portfolio of producing and undeveloped leasehold acreages. Additionally, Amplify Energy Corp. prides itself on having working interests in identified producing wells, positioning the company for sustained growth and operational efficiency in the highly competitive energy sector.
Products and Services
- Oil and Natural Gas Production
Amplify Energy Corp. specializes in the production of oil and natural gas, leveraging its expansive leasehold acreages and working interests in producing wells. The company's operations are strategically spread across several key locations, including Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and the Eagle Ford region. This diversified portfolio not only enhances the company's production capabilities but also mitigates geographical risks, securing a steady supply of energy resources.
- Leasehold Acreage Development
In addition to its production activities, Amplify Energy Corp. is actively involved in the development of both operated and non-operated leasehold acreages. This aspect of their service offerings highlights the company's commitment to exploring and unlocking the potential of undeveloped lands. By effectively managing and developing these leaseholds, Amplify Energy Corp. ensures the longevity of its resource base, contributing to its long-term operational success and profitability.
- Operated and Non-Operated Working Interests
Amplify Energy Corp. maintains a dynamic mix of operated and non-operated working interests in producing and undeveloped acreage. This strategic approach allows the company to balance its operational responsibilities and investment risks. Through carefully selected partnerships and joint ventures, Amplify Energy Corp. optimizes resource extraction and maximizes financial returns, benefitting both the company and its stakeholders.
Contact Information
