Amplify Energy Corp. reported its financial results for the second quarter of 2026, revealing a net income of $17.3 million, a significant increase from $6.4 million in the same period last year. The company's total revenues for the quarter were $52.7 million, down from $68.4 million in the prior year, primarily due to a decrease in production volumes following the divestiture of several assets in 2025. Oil and natural gas sales accounted for $52.6 million of the total revenue, compared to $66.8 million in the previous year, reflecting a decline in production volumes from 1,191 MBoe in Q2 2025 to 615 MBoe in Q2 2026.
In terms of operational metrics, Amplify's average net production for the second quarter was approximately 6.8 MBoe/d, a decrease from 19.1 MBoe/d in the same quarter of 2025. The average realized sales price for oil increased to $85.41 per barrel, up from $60.01 per barrel a year earlier, which partially offset the impact of lower production volumes. The company’s lease operating expenses also decreased significantly, from $38.6 million in Q2 2025 to $22.7 million in Q2 2026, largely due to the divestiture of non-core assets.
Amplify Energy's strategic focus has shifted following the divestiture of its East Texas, Oklahoma, and non-operated Eagle Ford assets in 2025, which management believes has strengthened the company's liquidity and streamlined its asset portfolio. The company has not engaged in any acquisitions during the first half of 2026, maintaining a focus on its remaining properties in the Bairoil and Beta fields. As of June 30, 2026, Amplify's total assets were valued at $576.1 million, a decrease from $600.9 million at the end of 2025, primarily due to the divestitures and changes in cash and receivables.
Looking ahead, Amplify Energy has approved a share repurchase program of up to $15 million, which is expected to commence in August 2026. The company anticipates that its existing cash reserves, along with cash flows from operations, will be sufficient to support its working capital and capital expenditure needs for the foreseeable future. The company remains committed to managing its operational costs and enhancing its financial flexibility in a volatile market environment, particularly in light of ongoing geopolitical tensions and fluctuating commodity prices.
About Amplify Energy Corp.
Amplify Energy Corp. is an independent oil and natural gas company focused on acquiring, developing, exploiting, and producing oil and natural gas properties. Operating primarily through its subsidiary, it holds working interests in producing and undeveloped leasehold acreage across key U.S. regions including Oklahoma, Wyoming, offshore California, East Texas/North Louisiana, and Eagle Ford. The company manages mature reservoirs, emphasizing operational control and long-term reserve development to deliver energy resources to major industry customers.
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