Amplify Energy Q4 net income $43.6M, launches Beta development program, initiates Bairoil sale

Amplify Energy Corp.

Q4 2023: Net income $43.6M (vs Q3 loss of $13.4M); Adjusted EBITDA $25.2M; free cash flow $14.4M, up 136%.
Full-year 2023: net income $392.8M; reduced net debt by ~$95M to $94M; LTM Adjusted EBITDA $88.0M.
Year-end 2023 proved reserves: 98 MMBoe; PV-10 of $757M (SEC pricing); net debt/EBITDA 1.1x.
2024 capex guidance $50–60M; Beta development program spudded Mar 2024; Bairoil marketing process started.
Beta wells projected IRRs >100%, payback <1 year; Magnify Energy Services expects $2–3M Adjusted EBITDA in 2024.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Amplify Energy Corp. reported financial results for quarter and year ended December 31, 2023.

Period: quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 6, 2024, Amplify Energy Corp., a Delaware corporation (the “Company”), issued a press release reporting the Company’s financial and operating results for the quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001558370-24-002606

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