Amplify Energy Reports 2024 Results and Strategic Plans

Amplify Energy Corp. ( (AMPY) ) has released its Q4 earnings. Here is a breakdown of the information Amplify Energy Corp. presented to its investors.

Amplify Energy Corp. is an independent oil and natural gas company focused on the acquisition, development, and production of oil and natural gas properties, with operations primarily in Oklahoma, the Rockies, Southern California, East Texas, and the Eagle Ford.

In its latest earnings report, Amplify Energy Corp. announced its financial results for the fourth quarter and full-year 2024, alongside updates on its strategic initiatives and future guidance. The company highlighted its transformational combination with Juniper Capital’s portfolio companies, which is expected to enhance its operations and scale.

Key financial metrics for the fourth quarter of 2024 include an average total production of 18.5 MBoepd, a net cash flow from operating activities of $12.5 million, and a net loss of $7.4 million. For the full year, Amplify reported an average total production of 19.5 MBoepd, a net income of $12.9 million, and an Adjusted EBITDA of $103 million. The company also completed the sale of undeveloped Haynesville acreage for $1.4 million and renegotiated surety bonds, reducing annual payments by $7 million.

Amplify’s strategic initiatives for 2025 involve completing the merger with Juniper Capital, continuing the Beta development program, and expanding its subsidiary, Magnify Energy Services, to enhance operations in East Texas and Oklahoma. The company aims to create additional value through monetizing its portfolio and participating in joint development opportunities.

Looking ahead, Amplify Energy’s management remains optimistic about its growth potential in 2025, focusing on capitalizing on its enhanced asset base and delivering value to shareholders through strategic initiatives and operational improvements.