Amplify Energy Corp. · NYSE:AMPY
Amplify Energy — Merger or Acquisition (January 2025)
15 slides from Amplify Energy's merger presentation, Jan 15, 2025
Slide 1: Amplify Energy Corp. Rockies Transaction
Amplify Energy Corp. Rockies Transaction January 15, 2025 NYSE: AMPY
Slide 2: Forward Looking Statements
NYSE: AMPY Forward Looking Statements This presentation includes “forward-looking statements.” All statements, other than statements of historical fact, included in this presentation that addresses activities, events or developments that the Amplify Energy Corp. (the "Company") expects, believes or
Slide 3: Non-GAAP Disclosure and Additional Information
Non-GAAP Disclosure This presentation includes non-GAAP (generally accepted accounting principles) financial measures, including projections of the non-GAAP financial measures of free cash flow and PV10. Due to the high variability and difficulty in making accurate forecasts and projections of some
Slide 4: Transaction Overview
▪ Amplify’s management will continue to lead the company ▪ Amplify will add key personnel to supplement Amplify's existing Rockies operating team Transaction Overview ▪ Board will be comprised of 7 directors: 5 existing Amplify directors (including Mr. Willsher) and 2 directors nominated by Juniper
Slide 5: Transaction Attributes
Transaction Attributes Company Characteristics Existing Amplify Transaction Attributes Free Cash Flow1 ▪ Positive in 17 of last 18 quarters ▪ Immediately accretive to FCF1 ▪ Materially enhances margins / netbacks Organic Value Creation Opportunities Development Areas: ▪ Operated: 1 ▪ Non-Op: 2 ▪ Add
Slide 6: Pro Forma Company Overview
▪ Diversified Production: 69% liquids mix (~55% oil) from six diversified areas mitigates regional pricing and operational risks1 ▪ Oil Weighted Development: Multiple oil weighted basins provide high margin development opportunities and capital allocation optionality. Hundreds of potential locations
Slide 7: Substantial Increase in Scale
8 15 3 4 8 19 8 27 Pre-Transaction (3Q24) Pro Forma (3Q24) Oil NGL Gas Total 94 113 Pre-Transaction (3Q24) Pro Forma (3Q24) $534 $866 Pre-Transaction (3Q24) Pro Forma (3Q24) ~300,000 ~587,000 Pre-Transaction (3Q24) Pro Forma (3Q24) NYSE: AMPY Substantial Increase in Scale Net Acres 7 Substantially I
Slide 8: Rockies Asset Overview
1 Based on preliminary 3Q24 unaudited results 2 Reserves and PV10 based on DeGolyer and MacNaughton midyear prepared report effective as of 10/01/2024 and utilizing strip pricing as of 10/25/2; (NYMEX WTI, HH) - Bal24: $71.69, $2.75; 2025: $69.68, $3.25; 2026: $67.55, $3.62 3 Refer to "Non-GAAP Disc
Slide 9: Beta Development Focused on Multi-Year Development Plan
Key Points Amplify Leasehold Beta Field Platform Pump Station Offshore Region NYSE: AMPY Beta Development Focused on Multi-Year Development Plan 1 Sourced from 2023 10-K 2 Based on average daily production for 3Q24 3 YE 2023 reserves at strip pricing as of 10/25/24 4 Strip pricing as of 10/25/24: (N
Slide 10: Asset Locator Map: Attractive Non-Operated Upside
Asset Locator Map ▪ Non-operated footprint being actively developed by operating partners – Eagle Ford: • 100% non-operated position in Karnes County, operated primarily by Murphy • ~250 gross locations targeting the Austin Chalk, Upper Eagle Ford, and Lower Eagle Ford – East Texas: • Currently part
Slide 11: Asset Locator Map: Steady Cash Flowing Assets Fund Development
Asset Locator Map NYSE: AMPY Steady Cash Flowing Assets Fund Development 1 Based on average daily production for 3Q24 2 2023 Year End reserves are evaluated at strip pricing as of 10/25/24: (NYMEX WTI, HH) - Bal24: $71.69, $2.75; 2025: $69.68, $3.25; 2026: $67.55, $3.62 3 Refer to "Non-GAAP Disclosu
Slide 12: Accretive to Key Financial Metrics
$3.55 $2.71 Pre-Transaction (3Q24) Pro Forma (3Q24) $39.79 $46.04 Pre-Transaction (3Q24) Pro Forma (3Q24) $18.98 $18.49 Pre-Transaction (3Q24) Pro Forma (3Q24) Lease Operating Expense1 Production Mix ($/Boe) 1 General and Administrative Expense2,3 Unhedged Revenue ($/Boe) 1 ($/Boe) Material Efficien
Slide 13: Sustainable Cash Flow Enhanced by Organic Growth
Sustainable Cash Flow Enhanced by Organic Growth ▪ Predictable and diversified portfolio of low-decline assets ▪ Substantial organic value-creation opportunities across multiple regions and commodities – Rockies addition adds long-term development potential (as well as current production) – Beta ups
Slide 14: Creating Value For Shareholders
✓ Enhances near-term and long-term free cash flow ✓ Increases scale and operational / G&A efficiency ✓ Increases high-quality, economic inventory ✓ Positions the Company for further strategic consolidation opportunities NYSE: AMPY 14 Creating Compelling Value For Shareholders Disciplined Approach to
Slide 15: NYSE: AMPY
NYSE: AMPY
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