The following is a summary of the Amplify Energy Corp. (AMPY) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Amplify Energy reported net income of approximately $7.1 million for Q2 2024, in contrast to a $9.4 million net loss in the previous quarter.

• EBITDA for the quarter stood at $30.7 million, significantly exceeding expectations.

• Free cash flow amounted to $9.2 million, continuing a pattern of positive free cash flow generation in 16 out of the last 17 quarters.

Business Progress:

• Amplify Energy is engaged in strategic initiatives including the participation in high-return non-operated development wells in East Texas and the Eagle Ford, alongside their development program at Beta.

• The company has been actively evaluating bids for both sale or partial monetization of its barrel assets.

Opportunities:

• The successful drilling of the A50 Well at Beta and potential increases in developable locations offer great prospects for growth in reserve inventory and productivity.

Risks:

• Production curtailments in East Texas due to flooding significantly impacted operations, showcasing susceptibility to environmental risks.

More details: Amplify Energy IR

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