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August 2019 Investor Presentation – Amplify Energy Corp.

Amplify Energy Corp. · Aug 6, 2019 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. August 2019 Investor Presentation – Amplify Energy Corp. – slide 1
    Investor Presentation August 2019
  2. August 2019 Investor Presentation – Amplify Energy Corp. – slide 2
    Robust Cash Generating Assets with Low Declines Diversified Production: 50/50 liquids and gas production (34% oil), with attractive pricing across commodities and strong margins Attractive Valuation: Combined company enterprise value…
  3. August 2019 Investor Presentation – Amplify Energy Corp. – slide 3
    Current Trading Levels Offer Attractive Entry Point Key Points 1P Reserve Summary 1P reserve value at NYMEX strip pricing is significantly greater than Net Total % PD PV-10 & PUD PV-20 (WTI / HH) Amplify's current enterprise value…
  4. August 2019 Investor Presentation – Amplify Energy Corp. – slide 4
    2H19 Guidance Demonstrates FCF Generation Capabilities 3Q19E Operating Highlights 2H19E Operating Highlights 28 Adjusted EBITDA 34 60 Adjusted EBITDA 68 ( MM) ( MM) (2) Free Cash Flow1 4 17 Free Cash Flow1 25 ( MM) ( MM) 26…
  5. August 2019 Investor Presentation – Amplify Energy Corp. – slide 5
    Go Forward Plan The Amplify Opportunity Low decline PDP asset base producing significant free cash flow Free Cash Flow Focused on operating leverage developing areas with lower variable costs and risk Generation Reducing G&A / Boe…
  6. August 2019 Investor Presentation – Amplify Energy Corp. – slide 6
    Value Proposition Chain Sustainable FCF provides return of capital Reinvest into organic development opportunities opportunities or acquire assets from a 3rd party Debt reduction A&D market currently Large, shallow decline…
  7. August 2019 Investor Presentation – Amplify Energy Corp. – slide 7
    1 1 Maintain PDP Base Value Low Decline, Mature Producing Properties Comparable Companies PD R/P (Years) 13.2 2 Key Points Amplify's PD reserve base will 10.8 generate significant free cash flow over the next 8.7 decade Mature…
  8. August 2019 Investor Presentation – Amplify Energy Corp. – slide 8
    2 Cost Reduction Scale & Synergies Enable Top Tier G&A Efficiency 2 1Q19 Cash G&A Expense (/Boe) 5.16 5.01 4.77 4.72 Peer Average: 3.37 2.94 2.71 2.45 1.64 1.42 1.13 1 Peer C Peer H Peer I Peer B Peer G Peer E Peer…
  9. August 2019 Investor Presentation – Amplify Energy Corp. – slide 9
    3 Financial Discipline Low Leverage and Ample Liquidity 3 Key Credit Highlights Net Debt / 1Q19 Annualized EBITDA Amplify maintains an attractive credit profile, with 2Q19 5.0x last twelve months leverage of 1.2x Simple capital…
  10. August 2019 Investor Presentation – Amplify Energy Corp. – slide 10
    3 Financial Discipline Highly Hedged Positions Protect & Deliver Stable Cash Flows 3 Base 2H19E EBITDA 64 MM1 Oil Hedge Position (% of 2H19 Daily Production) 54.40 56.19 56.05 55.32 Change in WTI (/Bbl) 86% (/Bbl) and Henry…
  11. August 2019 Investor Presentation – Amplify Energy Corp. – slide 11
    4 Lower Capital Intensity Capital Deployed on Low Risk Projects 4 2H19E Capital Expenditures: 38 MM Guidance 2H19E Capital Spending ( MM) Eagle Ford Rockies 20 MM D&C 3% 19 MM for plant expansion1 Total Capex (by Type) Bairoil…
  12. August 2019 Investor Presentation – Amplify Energy Corp. – slide 12
    5 5 Growing Through Acquisition Scale and Efficiency Will Drive M&A Market Cap vs. EV / 2019E EBITDA Market Cap vs. G&A / Boe 10.0x 6.00 Companies with scale and Significant overlap efficient operations receive between…
  13. August 2019 Investor Presentation – Amplify Energy Corp. – slide 13
    6 6 Sustainable FCF and Return Capital Top-Tier Free Cash Flow Generation 2019E Levered Free Cash Flow Yield1 Pro Forma Amplify Current Dividend Yield: 18% 49.2% Amplify is one of two selected SMID peers paying dividends and…
  14. August 2019 Investor Presentation – Amplify Energy Corp. – slide 14
    6 6 Sustainable FCF and Return Capital Capital Return Programs Capital Returns Summary ( MM) Tender Offers Share Buybacks Dividends 51 162 25 50 1 86 35 Tender Offer Tender Offer Share Buyback1 Total Completed…
  15. August 2019 Investor Presentation – Amplify Energy Corp. – slide 15
    Investment Highlights Recent Merger Unlocks Substantial Value Through Cost Synergies Actively Returning Capital Through Long-Term, Sustainable Dividends and Share Buybacks Establishing a Peer-Leading Free Cash Flow Profile and…
  16. August 2019 Investor Presentation – Amplify Energy Corp. – slide 16
    Appendix
  17. August 2019 Investor Presentation – Amplify Energy Corp. – slide 17
    Experienced Management Team Name Position Prior Experience Years in Industry Ken Mariani CEO and President 36+ Martyn Willsher SVP and CFO 17+ SVP and Chief Administrative Polly Schott 24+ Officer Richard Smiley SVP Operations…
  18. August 2019 Investor Presentation – Amplify Energy Corp. – slide 18
    Recent Milestones May 2017 Amplify successfully April 2018 Announced October 2018 Announced the November 2018 August 2019 completed its financial promotions: receipt of approximately 61.5 Commenced tender offer Closed all stock…
  19. August 2019 Investor Presentation – Amplify Energy Corp. – slide 19
    3Q19 and 2H19 Guidance Details 3Q19E 2H19E Low High Low High Net Average Daily Production Oil (MBbls/d) 10.6 - 11.8 10.6 - 11.7 NGL (MBbls/d) 6.0 - 6.6 5.9 - 6.5 Natural Gas (MMcf/d) 85.9 - 95.1 83.8 - 92.9 Total (MBoe/d) 30.9 -…
  20. August 2019 Investor Presentation – Amplify Energy Corp. – slide 20
    Robust Pricing Differentials Improving Commodity Price Differentials 1H19 Oil and Gas Revenues by Commodity Despite regional challenges in the industry, Amplify maintains strong differentials across all commodity products: Natural…
  21. August 2019 Investor Presentation – Amplify Energy Corp. – slide 21
    Miss Lime Asset Overview 2Q19 Production PD PV-10 (MBoe/d) ( MM) 36% 38% Other PF Amplify Assets Miss Lime Key Stats Net Acres (ML): 100,000 acres Operatorship: 83% WI %: 76% HBP %: 92% Net Production: 12.0 MBoe/d1…
  22. August 2019 Investor Presentation – Amplify Energy Corp. – slide 22
    East Texas / North Louisiana Asset Overview 2Q19 Production PD PV-10 (MBoe/d) ( MM) 23% 40% Other PF Amplify Assets ETX / NLA Key Stats Net Acres (CV): 93,300 acres WI %: 87% HBP %: 100% Net Acres (HSVL): 21,200 acres WI…
  23. August 2019 Investor Presentation – Amplify Energy Corp. – slide 23
    California Beta Field Asset Overview 2Q19 Production PD PV-10 (MBoe/d) ( MM) 9% 20% Other PF Amplify Assets California Beta Key Stats Net Acres: 17,000 acres WI %: 100% HBP %: 100% Net Production: 3.0 MBoe/d1 Liquids Mix:…
  24. August 2019 Investor Presentation – Amplify Energy Corp. – slide 24
    Rockies Asset Overview 2Q19 Production PD PV-10 (MBoe/d) ( MM) Amplify Leasehold 10% 15% Fremont Carbon Other PF Amplify Assets Rockies Sweetwater Key Stats Net Acres: 7,000 acres WI %: 100% HBP %: 100% Net…
  25. August 2019 Investor Presentation – Amplify Energy Corp. – slide 25
    Eagle Ford Asset Overview 2Q19 Production PD PV-10 (MBoe/d) ( MM) 5% 4% DeWitt Other PF Amplify Assets Eagle Ford Key Stats Net Acres: 750 acres Karnes WI %: 5% HBP %: 100% Net Production: 1.6 MBoe/d1 Liquids Mix: 89%1…

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