Amplify Energy Corp. Reports Q1 2025 Financial Results with Improved Net Loss

Amplify Energy Corp. reported its financial results for the first quarter of 2025, revealing a net loss of $5.9 million, a notable improvement from a net loss of $9.4 million in the same period last year. Total revenues for the quarter were $72.1 million, down from $76.3 million in the first quarter of 2024. The decline in revenue was primarily attributed to lower oil sales, which amounted to $50.0 million compared to $57.4 million in the previous year. However, the company experienced an increase in natural gas sales, which rose to $14.2 million from $10.4 million, and NGL sales, which increased to $6.2 million from $7.5 million.

In terms of operational performance, Amplify's average net production decreased to approximately 17.9 MBoe/d from 20.2 MBoe/d year-over-year. The average realized sales price per barrel of oil equivalent (Boe) increased to $43.76 from $40.89, driven by higher natural gas and NGL prices, although this was partially offset by lower oil prices. Lease operating expenses were reported at $37.4 million, slightly down from $38.3 million, but on a per Boe basis, these expenses increased to $23.28 from $20.78, reflecting a decrease in production volumes.

Strategically, Amplify Energy engaged in a significant transaction in January 2025, selling 90% of its interest in certain units in the Haynesville basin for net proceeds of $6.3 million while acquiring a 10% interest in adjacent acreage. This move is part of the company's strategy to optimize its asset portfolio. However, a contemplated merger with Juniper Capital was terminated on April 25, 2025, which the company expects will incur approximately $3.0 million in professional fees and expenses.

Looking ahead, Amplify Energy anticipates that its cash flows from operations and available borrowings under its Revolving Credit Facility will be sufficient to support its working capital and capital expenditures for the foreseeable future. The company had $125 million in long-term debt as of March 31, 2025, with a borrowing base of $145 million under its credit facility. The company remains focused on managing its operational costs and optimizing its production capabilities in a volatile market environment influenced by global economic conditions and commodity price fluctuations.