Summary
Amplify Energy Simplifies Portfolio, Goes Debt-Free to Fuel Beta and Bairoil Growth
Amplify Energy NYSE: AMPY outlined a simplified strategy centered on two remaining producing assets—its offshore Beta field in federal waters off Southern California and the Bairoil CO2 flood in Wyoming—after divesting several noncore positions and eliminating debt, CEO Dan Furbee said during an EnerCom presentation.
Amplify Energy Is An Iran War Oil Trade
Amplify Energy Corp (AMPY) offers a pure oil price trade, currently trading at a discount to asset value. AMPY is debt-free after recent asset sales, enhancing its attractiveness versus peers with leveraged balance sheets. Beta operations provide upside as 5-8 wells are planned to be drilled this year.
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 $120 million for its Oklahoma assets, that would put it in good shape to help pay for future Beta development.
Amplify Energy Corp. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 100 | $398 | $451 | $53 | 13.32% |
 Donald Yacktman Yacktman Asset Management | 205,000 | $1.14M | $852,800 | -$282,767.17 | -24.9% |
 Point72 Asset Management LP Point72 Asset Management LP | 35,865 | $163,903.02 | $171,434.7 | $7,531.68 | 4.6% |
| CAL CSM Advisors LLC CSM Advisors LLC | 738,620 | $2.52M | $3.53M | $1.01M | 40.06% |
 Joseph Castro Nuveen LLC | 178,228 | $709,347.99 | $803,808.28 | $94,460.29 | 13.32% |
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Amplify Energy Corp. Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | Daniel Furbee CEO | NYSE Exchange | 03212B103 CUSIP |
| US Country | 184 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.
