Amplify Energy Corp. · NYSE:AMPY
Amplify Energy — Q1 2025 Earnings Presentation
33 slides from Amplify Energy's earnings presentation, May 13, 2025
Slide 1: Amplify Energy Corp. May 2025 Investor Presentation
NYSE: AMPY Amplify Energy Corp. May 2025 Investor Presentation May 12, 2025
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in th
Slide 3: Non-GAAP Disclosure
Non-GAAP Disclosure Use of Non-GAAP Financial Measures. Amplify uses the non-GAAP financial measures of Adjusted EBITDA, Adjusted net income (loss), free cash flow, net debt, PV-10 and cash G&A. The accompanying schedules include the non-GAAP financial measures of Adjusted EBITDA, Adjusted net incom
Slide 4: Robust, Low-Decline, Cash Generating Assets
Robust, Low-Decline, Cash Generating Assets Asset Overview Asset Locator Map ▪ Diversified Production: 62/38 liquids and gas mix (~46% oil) from 5 producing basins in different areas of the U.S. mitigates regional pricing and operational disruptions1 ▪ Long-Life Reserves: Legacy assets consist of lo
Slide 5: Key Highlights
Key Highlights ▪ Delivered ~$19 MM of Adjusted EBITDA in 1Q25, ~$98 MM LTM Focused Operational ▪ Expanding Magnify Energy Services to lower operating costs and improve service reliability Excellence1 ▪ Completed Beta facility upgrade which reduces future emissions & operating costs ▪ Successfully co
Slide 6: Compelling Valuation with Additional Upside
Compelling Valuation with Additional Upside Key Points Proved Reserves Summary1,2 ▪ Proved reserve (1P) value at various flat pricing scenarios Net Total % PD PV-10 & PUD PV-201 is greater than Amplify's current enterprise value Category (MMBoe)1,2 Liquids1,2 $60 / $3.50 $65 / $4.00 $75 / $4.00 ▪ Pr
Slide 7: Low-Decline, Mature Producing Properties
Low-Decline, Mature Producing Properties Key Points YE 2024 PD Production Forecast (MBoe/d)2 ▪ Amplify’s legacy PD reserves base is expected to generate substantial free 25 cash flow over the next ten years and beyond1,2 20 Production (Mboe/d) ▪ Long-life PD reserves with ~5% 15 compound annual decl
Slide 8: Maintaining Financial Discipline Through Cycles
Maintaining Financial Discipline Through Cycles Key Points Free Cash Flow Over Time ($ MM)1,2,3 ▪ Our diversified, low-decline, PDP-heavy portfolio, paired with a commitment to operational efficiency and the low-capital Revenue Controllable Costs Non-Controllable Costs nature of our assets, supports
Slide 9: Beta Development: 2024 Program Grew Production Significantly
Beta Development 2024 Program Grew Production Significantly Key Points Beta Production Growth1 ▪ Increased Beta oil production by ~35% since early 2024 after completing 4 wells 6,000 within the past year – A 50 (D-Sand) well brought online in June 5,500 2024; gross oil IP-30 of 730 Bopd – C 59 (D-Sa
Slide 10: Beta Development (Cont'd): D Sand Exceeding Beta Type Curve
Beta Development (Cont’d) D Sand Exceeding Beta Type Curve Key Points Beta D Sand New Drills Exceeding Type Curve2 ▪ All 3 new D Sand wells are exceeding the Beta type curve Type Curve A 50 C 59 C 54 225,000 ▪ C542 well exhibiting the strongest results thus far 200,000 2 ▪ Remaining well in 2025 exp
Slide 11: Beta Development (Cont'd): 2024 Program Outperforming Key L48 Basins
Beta Development (Cont’d) 2024 Program Outperforming Key L48 Basins Key Points ▪ Recent Beta development demonstrates lower breakeven prices than any resource play in the lower 48 ▪ Beta development economics are enhanced due to minimal incremental operating costs for each new well drilled and relat
Slide 12: Beta Development (Cont'd): Significant Remaining Locations Identified
Beta Development (Cont’d) Significant Remaining Locations Identified Key Points Extensive Beta PUD Locations Identified ▪ Currently 25 YE24 PUD locations identified with $144 million of PV101 value at $65 / $4.00 flat pricing PDP Wells Production Drainage Radius, ft ▪ PUD locations consist of 21 D-S
Slide 13: Beta Development (Cont'd): Significant Future Potential
Beta Development (Cont’d) Significant Future Potential Type Log Showing Primary Development Targets Key Points ▪ Based on current PDP projections and the PUD type curve, estimated cumulative recovery only ~128 Million bbls of oil after the development of 25 PUDs ▪ Multiple original oil-in-place stud
Slide 14: Steady Cash Flowing Assets Fund Development
Steady Cash Flowing Assets Fund Development Key Points Asset Locator Map ▪ Amplify’s legacy onshore asset base includes predictable, low-decline assets containing low-risk / low-cost upside Bairoil – Oklahoma: ▪ Highly successful workover program proves-up base declines and operating expenses Oklaho
Slide 15: Investment Highlights
Investment Highlights Strong Balance Sheet, Beta Development and Operational Efficiency Initiatives Drive Shareholder Value with Portfolio Optionality to Accelerate Value Enhancement Implied Year-End 2024 1P Equity Value Represents a ~217% Premium to Current Share Price1,2,3 Sustainable FCF Profile
Slide 16: Appendix
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Slide 17: Amplify Corporate ESG Profile
Amplify Corporate ESG Profile ▪ Dramatically reducing GHG emissions by optimizing asset infrastructure − Reduced Scope 1 GHG emissions ~60% since 2018 Environmental ▪ No routine methane flaring Focus ▪ Performing platform electrification and other emissions reducing projects at Beta ▪ Comprehensive
Slide 18: 2025 Guidance and Details – Updated
2025 Guidance and Details – Updated Previous - FY 2025E Updated - FY 2025E Low High Low High Net Average Daily Production Oil (MBbls/d) 8.5 - 9.4 8.3 - 8.9 NGL (MBbls/d) 3.0 - 3.3 3.0 - 3.3 Natural Gas (MMcf/d) 45.0 - 51.0 45.0 - 50.0 Total (MBoe/d) 19.0 - 21.0 19.0 - 20.5 Commodity Price Differenti
Slide 19: Oklahoma Overview
Oklahoma Overview Key Points Asset Locator Map 1Q25 Production (MBoe/d) YE 2024 1P Reserves (MMBoe) Other Amplify Assets Oklahoma Key Stats ▪ Net Acres: ~95,000 acres1 ‒ WI %: ~76%1 ▪ Net Production: 4.4 MBoe/d2 ▪ Liquids Mix: 47%2 ▪ 1P Reserves: 28.3 MMBoe3,4 ▪ 1P R/P: ~18 years3,5 Key Highlights ▪
Slide 20: Bairoil Overview
Bairoil Overview Key Points Asset Locator Map 1Q25 Production (MBoe/d) YE 2024 1P Reserves (MMBoe) Amplify Leasehold Fremont Carbon Other Amplify Assets Bairoil Sweetwater Key Stats ▪ Net Acres: ~7,000 acres1 ‒ WI %: 100%1 ▪ Net Production: 3.1 MBoe/d2 ▪ Oil Mix: 100%2 ▪ 1P Reserves: 12.3 MMBoe3,4 ▪
Slide 21: Beta Overview
Beta Overview Federal Waters Key Points Asset Locator Map 1Q25 Production (MBoe/d) YE 2024 1P Reserves (MMBoe) Other Amplify Assets Beta Key Stats ▪ Net Acres: ~17,000 acres1 ‒ WI %: 100%1 ▪ Net Production: 3.5 MBoe/d2 Amplify Leasehold ▪ Oil Mix: 100%2 Beta Field ▪ 1P Reserves: 16.5 MMBoe3,4 Platfo
Slide 22: East Texas / North Louisiana Overview
East Texas / North Louisiana Overview Key Points Asset Locator Map 1Q25 Production (MBoe/d) YE 2024 1P Reserves (MMBoe) Other Amplify Assets ETX / NLA Key Stats ▪ Net Acres: ~180,000 acres1 ‒ WI %: ~56%1 ▪ Net Production: 6.3 MBoe/d2 ▪ Liquids Mix: 31%2 ▪ 1P Reserves: 35.0 MMBoe3,4 ▪ 1P R/P: ~15 yea
Slide 23: Eagle Ford Overview
Eagle Ford Overview Key Points Asset Locator Map 1Q25 Production (MBoe/d) YE 2024 1P Reserves (MMBoe) Other Amplify Assets Eagle Ford Key Stats ▪ Net Acres: ~800 acres1 ‒ WI %: ~8%1 ▪ Net Production: 0.5 MBoe/d2 ▪ Liquids Mix: 90%2 ▪ 1P Reserves: 2.2 MMBoe3,4 ▪ 1P R/P: ~11 years3,5 Key Highlights ▪
Slide 24: Solidified FCF Generation with Pricing Upside
Solidified FCF Generation with Pricing Upside Key Points Oil Hedge Position1,2 ▪ Amplify maintains a robust hedge book to support our cash flow profile and provide downside protection in weak commodity environments 75 - 80% 50 - 60% ▪ Recently, Amplify added crude oil swaps covering the first half o
Slide 25: Crude Hedge Detail
Crude Hedge Detail 2025-2027 Crude Hedge Breakdown Period Bal251 FY2026 FY2027 Strip Pricing as of 5/9/2025 $59.96 $59.78 $60.77 Swap Total Volumes (MBbl) 1,273 1,506 368 Daily Volumes (Bbl/d) 4,629 4,126 1,008 W. Avg. Fixed Price ($/Bbl) $70.61 $66.40 $61.93 Traditional Collar Total Volumes (MBbl)
Slide 26: Natural Gas Hedge Detail
Natural Gas Hedge Detail 2025-2027 Natural Gas Hedge Breakdown Period Bal251 FY2026 FY2027 Strip Pricing as of 5/9/2025 $4.10 $4.40 $3.93 Swap Total Volumes (MMcf) 5,040 6,180 1,650 Daily Volumes (Mcf/d) 18,327 16,932 4,521 W. Avg. Fixed Price ($/MMBtu) $3.75 $3.80 $4.01 Traditional Collar Total Vol
Slide 27: Non-GAAP Reconciliations
Non-GAAP Reconciliations Twelve Months Twelve Months Twelve Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended Ended Ended December 31, 2024 December 31, 2023 December 31, 2022 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 (Amounts in $000s)
Slide 28: Non-GAAP Reconciliations (Cont'd)
Non-GAAP Reconciliations (Cont’d) Twelve Months Twelve Months Twelve Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended Ended Ended December 31, 2024 December 31, 2023 December 31, 2022 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 (Amounts i
Slide 29: Non-GAAP Reconciliations (Cont'd)
Non-GAAP Reconciliations (Cont’d) Three Months Twelve Months Ended Ended December 31, 2024 December 31, 2024 (Amounts in $000s) Revenue Payables in Suspense Oil and natural gas sales $ - $ 4,023 Other revenues - 4,829 Severance tax and other deducts - (433) Total net revenue $ - $ 8,419 Production v
Slide 30: Non-GAAP Reconciliations (Cont'd)
Non-GAAP Reconciliations (Cont’d) Reconciliation of Net Income to Adjusted Net Income Amplify defines Adjusted Net Income (Loss) as net income (loss) adjusted for unrealized loss (gain) on commodity derivative instruments, acquisition and divestiture-related expenses, unusual and infrequent items, a
Slide 31: Non-GAAP Reconciliations (Cont'd)
Non-GAAP Reconciliations (Cont’d) Reconciliation of Total G&A to Cash G&A Amplify defines cash G&A as general and administrative expense, less share-based compensation expense; acquisition and divestiture costs; bad debt expense; and severance payments. Cash G&A is an important non-GAAP financial me
Slide 32: Non-GAAP Reconciliations (Cont'd)
Non-GAAP Reconciliations (Cont’d) Reconciliation of PV-10 to Standardized Measure Amplify defines PV-10, which is a non-GAAP financial measure that represents the present value of estimated future cash inflows from proved oil and natural gas reserves that are calculated using the unweighted arithmet
Slide 33: NYSE: AMPY
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