The latest update is out from Amplify Energy ( (AMPY) ).
Amplify Energy Corp. reported strong financial and operational results for Q3 2024, with a net income of $22.7 million and an average production of 19.0 MBoepd. The company successfully drilled the C59 well at the Beta field, exceeding projections with an IP30 oil rate of 590 Bopd, and is in the process of completing the C48 well. Amplify also increased its borrowing base to $145 million, boosting liquidity. Despite market challenges, the company remains optimistic about future development and sustained shareholder value.
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