Amplify Energy

Amplify Energy sold assets in East Texas, Oklahoma and the Eagle Ford, realizing about USD 250 million and thereby paying off all debt. The company is now focusing on the offshore Beta prospect and the CO2‑EOR field Bairoil, reports production progress and cost reductions, and has an ongoing share buyback program. Management estimates the implied equity value at roughly USD 510 million (at USD 75 WTI) and sees substantial upside potential, but warns of drilling risks, regulatory dependence and oil price volatility. » More on de.investing.com

Amplify Energy’s audit committee has dismissed Deloitte & Touche as auditor for the fiscal year ending December 31, 2025, and has proposed Grant Thornton as the new independent accounting firm for fiscal 2026. Deloitte’s reports for 2023 and 2024 contained no qualifications and there were no disagreements with the company. At the same time, Amplify completed several asset sales, repaid revolving credit facilities and restructured and extended the remaining credit line through the end of 2028 to advance debt reduction and portfolio cleanup. » More on de.investing.com

Amplify Energy has extended an amended, first‑lien secured, reserve‑based revolving credit facility through December 31, 2028. The agreement provides an initial borrowing base of $25.0 million with committed credit lines of $15.0 million and will be reset semiannually; the facility was undrawn at closing. The company has a market capitalization of $184.77 million, debt of $127.53 million and a current ratio of 1.02, reported trailing‑12‑month revenues of $275.83 million but remained unprofitable. The amendment is intended to give Amplify additional financial flexibility while strategic alternatives for assets are being evaluated. » More on de.investing.com