Amplify Energy Corp. reported a net income of $44.0 million for the fiscal year ending December 31, 2025, a significant increase from the $12.9 million recorded in the previous year. The company's total revenues from oil and natural gas sales amounted to $256.1 million, down from $283.0 million in 2024, primarily due to a decrease in production volumes and lower average realized prices. The average realized sales price per barrel of oil equivalent (Boe) was $38.03, compared to $39.61 in 2024. The company produced an average of 18.4 MBoe per day, a decline from 19.5 MBoe per day in the prior year.
The company underwent significant operational changes in 2025, including the divestiture of several assets. Notably, Amplify sold its non-operated Eagle Ford assets for $23.0 million, its East Texas/North Louisiana assets for $122.0 million, and its Oklahoma assets for $92.5 million. These divestitures resulted in a decrease in estimated proved reserves to 38.1 million Boe, down from 93.0 million Boe in 2024, largely due to the sale of 53.2 million Boe in reserves. The remaining properties now consist solely of the Bairoil and Beta fields, with the latter accounting for approximately 64% of the company's estimated proved reserves.
In terms of strategic developments, Amplify Energy made several leadership changes in 2025. Daniel Furbee was appointed as Chief Executive Officer, succeeding Martyn Willsher, who transitioned to a Special Advisor role. Additionally, James Frew was promoted to President and Chief Financial Officer, and Natasha France was appointed as Vice President and Chief Accounting Officer. The company also recorded a workforce reduction, resulting in the involuntary termination of 36 employees, which incurred a severance expense of $6.8 million.
Looking ahead, Amplify Energy has set a capital expenditure budget for 2026 between $45.0 million and $65.0 million, primarily focused on its Beta properties. The company plans to fund this budget through internally generated cash flow and cash on hand, with the flexibility to utilize borrowings under its Revolving Credit Facility if necessary. As of December 31, 2025, Amplify had no outstanding borrowings under this facility and maintained a cash balance of approximately $60.7 million, positioning the company for future operational and financial flexibility.
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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