Amplify Energy Corp Stock Price, News & Analysis

Amplify Energy Corp. (NYSE: AMPY) will report its third quarter 2020 financial and operating results on November 5, 2020. The management will hold a conference call at 10:00 a.m. CT to discuss the results. Interested participants can join the call by dialing (833) 883-4379 or via the internet. A replay will be available for fourteen days after the call. Amplify is an independent oil and natural gas company operating primarily in Oklahoma, offshore California, and Texas.

Amplify Energy Corp. (NYSE: AMPY) received a notice from the NYSE indicating its average share price fell below $1.00 for the past 30 trading days, impacting its continued listing eligibility. The company confirmed that this notification does not affect its ongoing business operations or SEC reporting obligations. Amplify plans to notify the NYSE of its intent to cure this deficiency within the designated six-month period, allowing for continued trading of its shares, provided other listing requirements are met.

Amplify Energy Corp. (NYSE: AMPY) received a notice from the NYSE on August 31, 2020, indicating non-compliance with listing standards due to its market capitalization and stockholders' equity falling below $50 million. The Company has 45 days to submit a business plan to demonstrate compliance within 18 months. If accepted, it will undergo quarterly monitoring; if rejected, delisting procedures may occur. The notice does not currently impact trading or business operations.

Amplify Energy Corp. (NYSE: AMPY) reported strong second-quarter results despite COVID-19 challenges. The company reduced operating expenses by $8 million and lowered its capital spending plan by over $8 million, now expecting a total of approximately $28 million for the year. Daily production averaged 27.7 MBoe/d, with adjusted EBITDA of $21.3 million. The finalized royalty relief in its Beta field is expected to generate an additional $7 million in revenue annually. As of July 31, 2020, Amplify's net debt stood at $259 million.

Amplify Energy Corp. (NYSE: AMPY) will report its second quarter 2020 financial and operating results on August 5, 2020. The company invites stakeholders to join a conference call at 10:00 a.m. CT to discuss the results, with the call accessible via phone or online. A replay will be available for 14 days after the call. Amplify Energy operates in oil and natural gas exploration and production across various U.S. regions, including Oklahoma, California, and Texas. For more details, visit their website.

Amplify Energy Corp. (NYSE: AMPY) announced a completed redetermination of its revolving credit facility, resulting in a revised borrowing base of $285 million. This includes scheduled monthly reductions of $5 million until reaching $260 million by November 1, 2020. While the process faced challenges due to declining commodity prices, the company remains optimistic about increasing liquidity and reducing debt, aided by hedges and a recovering market. As of June 12, 2020, Amplify reported $264 million in net debt and $21 million in cash.

Amplify Energy Corp. (NYSE: AMPY) announced on June 2, 2020, that it has regained compliance with the New York Stock Exchange's continued listing standards. The company had previously received a notification on April 20, 2020, indicating it had fallen below the minimum average closing price of $1.00 per share. Amplify's average closing price exceeded this threshold for the 30 trading days ending May 29, 2020, and the compliance indicator has been removed from its shares.

Amplify Energy Corp. has announced the rescheduling of its Annual Meeting of stockholders to May 20, 2020, at 9:00 AM (Houston time) at Two Allen Center, Level 12, 1200 Smith Street, Houston, Texas.

Due to the COVID-19 pandemic, stockholders are encouraged to vote via proxy and adhere to safety protocols, including wearing masks and practicing social distancing during attendance.

Amplify Energy is focused on the acquisition, development, and production of oil and natural gas, with operations spanning several key areas.

Amplify Energy Corp. (AMPY) released its Q1 2020 results, revealing considerable operational and financial adjustments due to market challenges, including a $367.2 million net loss from significant asset impairments. The company implemented liquidity enhancement initiatives, reducing annual operating expenses by $18 million and capital spending by 41% to $27 million. Additionally, Amplify suspended its quarterly dividend program, which will retain about $15 million annually. Despite the challenges, daily production averaged 29.7 MBoe/d, exceeding guidance.