Amplify Energy Q2 net income $7.1M vs loss; raises 2024 capex guidance to $60-65M

Amplify Energy Corp.

2024-Q2 EPS reported -$0.06 revenue$155,802,000

Q2 net income of $7.1M, reversing prior quarter net loss of $9.4M; Adjusted EBITDA $30.7M.
Average production 20.3 MBoepd; free cash flow $9.2M, up from $2.3M QoQ.
Beta A50 well IP30 ~730 Bopd; payback ~4 months; two more wells planned in Q3.
Updated 2024 capex guidance to $60-65M, including $7-9M for non-operated wells in Eagle Ford/East Texas.
Bairoil monetization ongoing; net debt $117.5M, leverage 1.2x.

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