Amplify Energy posts Q4 net income, driven by asset sales

Overview

• Oil company reported Q4 net income of $64.4 mln, driven by asset sales

• Amplify Energy reports Q4 adjusted net loss of $10.4 mln

• Company completed strategic divestitures and repaid all outstanding debt

Outlook

• Amplify projects 2026 capital investment of $45 to $65 mln, mostly for Beta development

• Company expects to drill 5-8 wells at Beta in 2026, focusing on Joulters fault block

• Amplify anticipates annual G&A costs of $17 to $22 mln in 2026

Result Drivers

• ASSET SALES - Amplify's Q4 net income was significantly impacted by gains from the sale of East Texas and Oklahoma assets

• COST REDUCTION - Amplify reduced operating costs at Bairoil, lowering annual lease operating expenses by $10 mln

• DRILLING SUCCESS - Amplify's Beta development program exceeded pre-drill type curves with four new wells

Company press release: ID:nGNX2DbcxN

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

• Wall Street's median 12-month price target for Amplify Energy Corp is $9.13, about 49.6% above its March 6 closing price of $6.10

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 34 three months ago

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