Amplify Energy Q3 net loss $13.4M; announces Bairoil sale and Beta development

Amplify Energy Corp.

2023-Q3 EPS reported $8.57 revenue$228,611,000

Net loss $13.4M vs Q2 net income $9.8M; Adjusted EBITDA $19.5M (up from $17.6M).
Production 20.6 MBoe/d (-3% QoQ); revenue $76.8M (+$4.8M QoQ).
Bairoil asset sale process to begin Q1 2024; Beta development program planned H1 2024 with >100% IRR.
Created Magnify Energy Services to insource oilfield services; reaffirmed full-year 2023 guidance.
Net debt $104M (1.2x LTM Adj. EBITDA); Vidisha Prasad appointed to Board; inaugural sustainability report.

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