Amplify Energy Announces Closing of Amended Revolving Credit Facility

Rhea-AI Summary

Amplify Energy (NYSE: AMPY) closed an amended senior secured reserve-based revolving credit facility with Citizens Bank, extending the facility maturity to December 31, 2028. The amendment sets an initial borrowing base of $25 million with elected commitments of $15 million, and the borrowing base will be redetermined semi-annually with the next redetermination expected in Q2 2026. After closing on December 31, 2025, the company had no borrowings outstanding under the facility and reported having cash on hand to fund its strategic objectives.

Positive

• Facility maturity extended to Dec 31, 2028
• Initial borrowing base set at $25 million
• Elected commitments of $15 million
• No balance drawn after amendment; company has cash on hand

Negative

• Borrowing base subject to semi-annual redeterminations
• Reserve-based facility could reduce availability at redetermination

Key Figures

Initial borrowing base $25 million Amended reserve-based revolving credit facility

Elected commitments $15 million Amended revolving credit facility commitments

Facility maturity December 31, 2028 Extended maturity of amended revolving credit facility

Borrowing base review Semi-annual Borrowing base redetermined twice per year

Next redetermination 2Q 2026 Next borrowing base redetermination timing

Revolver balance $0 No balance drawn on revolving credit facility after amendment closing

Market Reality Check

$4.50 Last Close

Volume Volume 641,324 vs 20-day average 596,101 (relative volume 1.08x) ahead of this announcement. normal

Technical Shares at $4.57, trading above 200-day MA of $3.97 before the credit facility news.

Peers on Argus

Peers showed mixed moves: Empire Petroleum up 1.33%, AleAnna up 3.08%, while Kolibri Global Energy fell 1.75% and others were modestly negative, indicating stock-specific rather than broad sector momentum for AMPY.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 29	Asset sale closing	Positive	-0.2%	Closed Oklahoma divestiture for $92.5M and eliminated revolver debt.
Dec 23	Asset sale closing	Positive	-2.1%	Closed East Texas divestiture for $122.0M with balance sheet focus.
Nov 05	Earnings & strategy	Positive	+1.6%	Q3 results plus $220.0M divestiture plan and balance sheet update.
Nov 05	Asset sale agreement	Positive	+1.6%	Agreement to sell Oklahoma assets for $92.5M and simplify portfolio.
Oct 29	Asset sale announcement	Positive	+2.1%	Announced East Texas exits for $127.5M to pay down debt and refocus.

Pattern Detected

Recent divestiture and strategy updates were generally positive but produced mixed price reactions, with three aligned positive moves and two mild divergences.

Recent Company History

Over the last few months, Amplify has focused on portfolio simplification and balance sheet changes. It announced East Texas asset divestitures for $127.5M on Oct 29, followed by an Oklahoma sale agreement for $92.5M on Nov 5. Q3 results on Nov 5 highlighted $220.0M in planned divestitures and use of proceeds to reduce revolver debt. Closings of East Texas and Oklahoma sales in late December eliminated revolver debt. Today’s amended revolving facility follows that deleveraging and supports the post-divestiture company.

Market Pulse Summary

This announcement extends Amplify’s senior secured reserve-based revolving credit facility to December 31, 2028, with an initial borrowing base of $25 million and elected commitments of $15 million. The facility was undrawn at closing, following recent divestitures that eliminated prior revolver debt. Investors may track upcoming semi-annual borrowing base reviews, including the next in 2Q 2026, alongside how the company deploys cash on hand toward its stated strategic objectives and remaining core assets.

Key Terms

senior secured reserve-based revolving credit facility financial

"The amended senior secured reserve-based revolving credit facility, with Citizens Bank..."

A senior secured reserve-based revolving credit facility is a bank-style credit line that a company can draw, repay and redraw as needed, with the lender having first claim if the borrower defaults. The size of the line is tied to the value of specific company assets or production reserves (like inventory, accounts receivable, or proven resource reserves), and those assets back the loan. Investors care because it affects a company’s short-term liquidity, borrowing cost and the risk to equity holders if assets are pledged or credit is reduced — think of it like a flexible home-equity line where the available amount moves with the value of the house.

borrowing base financial

"The initial borrowing base under the amended revolving credit facility is $25 million..."

A borrowing base is the amount a lender will allow a company to borrow based on the value of assets the company offers as security, typically things like accounts receivable and inventory. It matters to investors because it sets a practical ceiling on short-term financing and influences a company’s liquidity and risk: if the borrowing base falls, the company may lose access to cash or be forced to sell assets, which can affect operations and share value.

redetermined financial

"The borrowing base will be redetermined on a semi-annual basis..."

Redetermined means that a previous decision, measurement, estimate or parameter has been reassessed and set again after reviewing new information or conditions. For investors, a redetermination can signal a change in expected costs, timelines, contract terms or scientific results—like remeasuring ingredients in a recipe when the number of guests changes—so it can alter a company’s outlook, cash needs or the timing and size of future returns.

AI-generated analysis. Not financial advice.

HOUSTON, Dec. 31, 2025 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify,” the “Company,” “us,” or “our”) announced today that it closed the previously announced amended revolving credit facility.

The amended senior secured reserve-based revolving credit facility, with Citizens Bank, N.A. as the administrative agent, amends the Company’s existing senior secured reserve-based revolving credit facility and extends the maturity to December 31, 2028.

The initial borrowing base under the amended revolving credit facility is $25 million with elected commitments of $15 million. The borrowing base will be redetermined on a semi-annual basis with the next redetermination expected to occur in the second quarter of 2026. After closing the amendment on December 31, 2025, Amplify had no balance drawn on the revolving credit facility and cash on hand to fund its strategic objectives.

About Amplify Energy

Amplify Energy Corp. is an independent oil company engaged in the acquisition, development, exploitation and production of oil. Amplify’s operations are focused in Beta (Pacific Offshore Continental Shelf) and Bairoil (Rockies). For more information, visit www.amplifyenergy.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. Terminology such as “may,” “will,” “would,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “outlook,” “continue,” the negative of such terms or other comparable terminology are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the anticipated timing of the redetermination of the borrowing base under the amended revolving credit facility. These statements address activities, events or developments that we expect or anticipate will or may occur in the future, including things such as projections of results of operations, plans for growth, goals, future capital expenditures, competitive strengths, references to future intentions and other such references. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. These include risks and uncertainties relating to, among other things: the ability to complete the potential sale of the Company’s assets in Oklahoma on favorable terms, or at all; the Company’s evaluation and implementation of strategic alternatives; risks related to the redetermination of the borrowing base under the Company’s revolving credit facility; the Company’s ability to satisfy debt obligations; the Company’s need to make accretive acquisitions or substantial capital expenditures to maintain its declining asset base, including the existence of unanticipated liabilities or problems relating to acquired or divested business or properties; volatility in the prices for oil, natural gas and NGLs; the Company’s ability to access funds on acceptable terms, if at all, because of the terms and conditions governing the Company’s indebtedness, including financial covenants; general political and economic conditions, globally and in the jurisdictions in which we operate, including the Russian invasion of Ukraine, and ongoing conflicts in the Middle East, trade wars and the potential destabilizing effect such conflicts may pose for the global oil and natural gas markets; expectations regarding general economic conditions, including inflation; and the impact of local, state and federal governmental regulations, including those related to climate change and hydraulic fracturing, and potential changes in these regulations. Please read the Company’s filings with the SEC, including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/sec-filings/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

Contacts

Jim Frew -- President and Chief Financial Officer
(832) 219-9044
jim.frew@amplifyenergy.com 

Michael Jordan -- Vice President, Finance and Treasury
(832) 219-9051
michael.jordan@amplifyenergy.com

FAQ

What did Amplify Energy (AMPY) announce on December 31, 2025 about its credit facility?

Amplify closed an amended senior secured reserve-based revolving credit facility, extending maturity to Dec 31, 2028 with an initial borrowing base of $25 million.

How much are the elected commitments under Amplify Energy's (AMPY) amended facility?

The amended facility includes elected commitments of $15 million.

Will Amplify Energy (AMPY) have to undergo borrowing base redeterminations and when is the next one?

Yes; the borrowing base is redetermined semi-annually and the next redetermination is expected in Q2 2026.

Did Amplify Energy (AMPY) draw on the amended revolving credit facility after closing?

No; after closing on Dec 31, 2025 the company had no balance drawn on the facility.

How does the amended credit facility affect Amplify Energy's (AMPY) near-term funding?

The amendment provides an initial borrowing base of $25M and commitments of $15M, and the company reported cash on hand to fund strategic objectives.