Amplify Energy Announces Third Quarter 2026 Results, Continued Production Growth, Enhanced Beta Royalty Relief, and Share Repurchase Activity
Key Highlights
- ➤Beta SCRR cuts royalty rate to approximately 12.4% effective November 1
- ➤Amplify repurchased 1.6 million shares for approximately $6.9 million
- ➤Third-quarter production reached 7.4 MBopd, up 9% sequentially
- ➤Third-quarter net loss was $18.9 million, driven by derivative losses
- ➤Bairoil lease operating expenses fell 30% sequentially to $7.8 million
Expert Statements
Dan Furbee, Chief Executive Officer of Amplify Energy Corp.
“Our third-quarter results demonstrate tangible progress in unlocking the value of Amplify’s asset base, with growing production across both assets and significantly lower costs at Bairoil. During the third quarter, strong performance from the recently drilled C29 and C16 wells, together with End of Life royalty relief, meaningfully increased net production, revenue and cash flow at Beta. Special Case Royalty Relief further enhances future development economics and supports extension of the field’s economic life. At Bairoil, our amended CO₂ purchase agreement was expected to reduce annual lease operating expenses by more than $10 million compared with 2025. However, in the third quarter, due to increased CO(2) deliveries above the contract minimum, our estimated annualized savings are forecasted to be greater than $20 million compared to the prior year, significantly increasing the profitability of the field. Moreover, the increased delivery of CO(2) highlights the current and future value associated with Bairoil’s available pore space for carbon storage.”
Dan Furbee, Chief Executive Officer of Amplify Energy Corp.
“In addition to the positive operational developments at Bairoil and Beta, we are also pleased with the share repurchase program we commenced in August. To date, we have bought back approximately 4.0% of our shares outstanding at a weighted-average purchase price of $4.35 per share, which we believe is well below intrinsic value. We believe buying back shares at these levels is accretive to shareholders, and we intend to continue allocating capital to the share repurchase program.”
Dan Furbee, Chief Executive Officer of Amplify Energy Corp.
“We believe buying back shares, investing in development drilling at Beta with Special Case Royalty Relief, and pursuing opportunities to monetize our available pore space at Bairoil present us with a myriad of opportunities for value creation.”
HOUSTON, Nov. 09, 2026 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify,” the “Company,” “us,” or “our”) today announced operating and financial results for the third quarter of 2026.
Recent Developments and Third Quarter Highlights * Recently, Amplify achieved the following: * Effective November 1, 2026, Amplify secured Special Case Royalty Relief (“SCRR”) at Beta, reducing the royalty rate on all Beta production to approximately 12.4% * Through November 4, 2026, Amplify has repurchased approximately 1.6 million shares of common stock, representing approximately 4.0% of shares outstanding, for approximately $6.9 million at a weighted-average purchase price of $4.35 per share
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