HOUSTON, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify,” the “Company,” “us,” or “our”) announced today it has entered into a definitive agreement to sell all of its interests in Oklahoma for a total contract price of $92.5 million, subject to customary post-closing adjustments (the “Oklahoma Transaction”). The Oklahoma Transaction is expected to close by the end of the fourth quarter of 2025 and will represent a complete exit from the Company’s interests in Oklahoma.
In combination with the previously announced divestitures of our East Texas and Eagle Ford assets, the Company is making significant progress on the Company’s previously announced plan of simplifying its portfolio, strengthening its balance sheet, and focusing on its highest upside assets.
Dan Furbee, Amplify’s Chief Executive Officer, stated, “This summer, the organization committed to a new strategic direction. Divesting our Oklahoma assets, in addition to selling our East Texas and Eagle Ford assets, demonstrates our commitment to seeing that plan through. Upon closing these transactions in the fourth quarter, Amplify will be extremely well positioned to create significant upside value at both Beta and Bairoil.”
On the Oklahoma transaction, TenOaks Energy Advisors is serving as financial advisor to Amplify while Kirkland and Ellis is serving as Amplify’s legal advisor.
About Amplify Energy
Amplify Energy Corp. is an independent oil company engaged in the acquisition, development, exploitation, and production of oil properties. Amplify’s operations are focused in federal waters offshore Southern California (Beta), and the Rockies (Bairoil). For more information, visit www.amplifyenergy.com.
Forward-Looking Statements
This press release 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 this press release that address activities, events or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. Terminology such as “may,” “will,” “would,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “outlook,” “continue,” the negative of such terms or other comparable terminology are intended to identify forward-looking statements. These statements address activities, events or developments that we expect or anticipate will or may occur in the future. These statements include, but are not limited to, statements about the expected timing of the East Texas and Oklahoma transactions (the “Asset Transactions”), anticipated impact of the Asset Transactions on the Company’s business and future financial and operating results and the Company’s expectations of plans, goals, strategies (including measures to implement strategies), objectives and anticipated results with respect thereto. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. These include risks and uncertainties relating to, among other things: the ability to complete the Asset Transactions on the anticipated terms and timetable; the possibility that various closing conditions for the Asset Transactions may not be satisfied or waived; the Company’s evaluation and implementation of strategic alternatives; risks related to the redetermination of the borrowing base under the Company’s revolving credit facility; the Company’s ability to satisfy debt obligations; the Company’s need to make accretive acquisitions or substantial capital expenditures to maintain its declining asset base, including the existence of unanticipated liabilities or problems relating to acquired or divested business or properties; volatility in the prices for oil, natural gas and NGLs; the Company’s ability to access funds on acceptable terms, if at all, because of the terms and conditions governing the Company’s indebtedness, including financial covenants; general political and economic conditions, globally and in the jurisdictions in which we operate, including the Russian invasion of Ukraine, and ongoing conflicts in the Middle East, trade wars and the potential destabilizing effect such conflicts may pose for the global oil and natural gas markets; expectations regarding general economic conditions, including inflation; and the impact of local, state and federal governmental regulations, including those related to climate change and hydraulic fracturing, and potential changes in these regulations. Please read the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/sec-filings/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
Contacts
Jim Frew -- President and Chief Financial Officer
(832) 219-9044
jim.frew@amplifyenergy.com
Michael Jordan -- Vice President, Finance and Treasury
(832) 219-9051
michael.jordan@amplifyenergy.com
