Amplify Energy Corp. reported a significant decline in financial performance for the third quarter of 2025, with a net loss of $20.97 million compared to a net income of $22.65 million in the same period last year. Total revenues decreased to $66.40 million from $69.86 million, primarily driven by lower oil and natural gas sales, which fell to $64.24 million from $68.14 million. The average realized price for oil dropped to $60.72 per barrel from $71.74, contributing to the overall revenue decline. The company also recorded an impairment expense of $34.00 million, reflecting the carrying value of assets exceeding their fair market value.
In terms of operational metrics, Amplify's average net production increased slightly to 19.7 MBoe/d from 19.0 MBoe/d year-over-year. However, the average realized sales price per barrel of oil equivalent (Boe) decreased to $35.47 from $38.88. The company’s lease operating expenses rose to $35.61 million, up from $33.26 million, reflecting increased workover activity and operational costs. General and administrative expenses also increased significantly to $11.76 million from $8.25 million, largely due to higher acquisition and divestiture costs and stock compensation expenses.
Strategically, Amplify Energy has been active in asset management, having divested its non-operated Eagle Ford assets for $23 million in July 2025. The company also sold a portion of its interests in the Cotton Valley and Haynesville basins, generating $6.3 million in net proceeds. These transactions are part of Amplify's strategy to optimize its asset portfolio and focus on core operations in Oklahoma and California. The company is also preparing for further asset sales, with agreements in place to sell additional properties in East Texas and Oklahoma, expected to close in December 2025.
Looking ahead, Amplify Energy's management remains cautious about market conditions, particularly the volatility in oil and natural gas prices influenced by geopolitical factors and OPEC+ production decisions. The company anticipates that its cash flows from operations and available borrowings under its revolving credit facility will be sufficient to support its capital expenditures and operational needs for the foreseeable future. However, the ongoing economic uncertainties and potential changes in commodity prices may impact future performance and liquidity.
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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