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December 2019 Investor Presentation – Amplify Energy Corp.

Amplify Energy Corp. · Dec 16, 2019 · 24 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. December 2019 Investor Presentation – Amplify Energy Corp. – slide 1
    Investor Presentation December 2019
  2. December 2019 Investor Presentation – Amplify Energy Corp. – slide 2
    Robust Cash Generating Assets with Low Declines Diversified Production: Nearly 50/50 liquids and gas production (37% oil), with attractive pricing across commodities and solid margins 4 Attractive Valuation: Current company…
  3. December 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. December 2019 Investor Presentation – Amplify Energy Corp. – slide 4
    Implied 2H19E Demonstrates FCF Generation Capabilities 4Q19E Operating Highlights Implied 2H19E Operating Highlights1 30 Adjusted EBITDA 35 61 Adjusted EBITDA 66 ( MM) ( MM) 16 Free Cash Flow2 21 19 Free Cash Flow2 24 ( MM) (…
  5. December 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. December 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. December 2019 Investor Presentation – Amplify Energy Corp. – slide 7
    Sustainable FCF and Return Capital Top-Tier Free Cash Flow Generation 2019E Levered Free Cash Flow Yield1 52.5% Current FCF Yield: 21% Amplify is one of two selected SMID peers paying dividends and has a superior Levered Free…
  8. December 2019 Investor Presentation – Amplify Energy Corp. – slide 8
    Sustainable FCF and Return Capital Capital Return Programs Capital Returns Summary ( MM) Tender Offers 8 MM dividend to Share Buybacks be paid 4Q 2019 5.4 MM repurchased Dividends on 11/22/19 51 162 14.5 MM repurchased as of…
  9. December 2019 Investor Presentation – Amplify Energy Corp. – slide 9
    Maintain PDP Base Value Low Decline, Mature Producing Properties Comparable Companies PD R/P (Years) Key Points Amplify's PD reserve base will generate significant free 13.3 cash flow over the next 11.2 decade Mature production…
  10. December 2019 Investor Presentation – Amplify Energy Corp. – slide 10
    Cost Reduction Scale & Synergies Enable Top Tier G&A Efficiency 3Q19 Cash G&A Expense (/Boe) 5.21 3.59 3.53 2.94 2.34 Peer Average: 2.63 2.21 2.19 2.16 1.22 0.42 1 Peer C Peer H Peer I Peer G Peer B Peer F Peer E AMPY…
  11. December 2019 Investor Presentation – Amplify Energy Corp. – slide 11
    Financial Discipline Low Leverage and Ample Liquidity Key Credit Highlights Net Debt / 3Q19 Annualized EBITDA Amplify maintains an attractive credit profile, with 3Q19 last twelve months leverage of 1.8x Simple capital structure…
  12. December 2019 Investor Presentation – Amplify Energy Corp. – slide 12
    Financial Discipline Highly Hedged Positions Protect & Deliver Stable Cash Flows Base 2H19E EBITDA 64 MM1 Oil Hedge Position (% of 4Q19E Daily Production)2 54.90 56.19 56.05 55.32 Change in WTI (/Bbl) 87% (/Bbl) and Henry…
  13. December 2019 Investor Presentation – Amplify Energy Corp. – slide 13
    Lower Capital Intensity Capital Deployed on Low Risk Projects 2H19E Capital Expenditures: 34 MM 2H19E Capital Spending ( MM) Eagle Ford Rockies 20 MM D&C 3% 19 MM for plant expansion1 Total Capex (by Type) Bairoil Expansion 19 1…
  14. December 2019 Investor Presentation – Amplify Energy Corp. – slide 14
    Growing Through Acquisition Scale and Efficiency Will Drive M&A Market Cap vs. EV / 2019E EBITDA 10.0x Companies with scale and efficient 9.0x operations receive premium multiples 8.0x 7.0x EV / 2019E EBITDA 6.0x…
  15. December 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. December 2019 Investor Presentation – Amplify Energy Corp. – slide 16
    Appendix
  17. December 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+ Richard Smiley SVP Operations 40+ SVP Engineering & Tony Lopez 15+ Exploitation…
  18. December 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 merger-…
  19. December 2019 Investor Presentation – Amplify Energy Corp. – slide 19
    4Q19 Guidance Details 4Q19E 2H19E Low High Net Average Daily Production Oil (MBbls/d) 11.2 - 12.4 NGL (MBbls/d) 5.0 - 5.6 Natural Gas (MMcf/d) 81.8 - 90.6 Total (MBoe/d) 29.9 - 33.1 Commodity Price Differential / Realizations…
  20. December 2019 Investor Presentation – Amplify Energy Corp. – slide 20
    Recent Merger Asset Miss Lime Asset Overview 3Q19 Production PD PV-10 (MBoe/d) ( MM) 35% 39% Other PF Amplify Assets Miss Lime Key Stats Net Acres (ML): 100,000 acres Operatorship: 83% WI %: 76% HBP %: 92% Net…
  21. December 2019 Investor Presentation – Amplify Energy Corp. – slide 21
    East Texas / North Louisiana Asset Overview 3Q19 Production PD PV-10 (MBoe/d) ( MM) 22% 39% Other PF Amplify Assets ETX / NLA Key Stats Net Acres (CV): 93,300 acres WI %: 87% HBP %: 100% Net Acres (HSVL): 21,200 acres…
  22. December 2019 Investor Presentation – Amplify Energy Corp. – slide 22
    Beta Field Asset Overview (Federal Waters) 3Q19 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…
  23. December 2019 Investor Presentation – Amplify Energy Corp. – slide 23
    Rockies Asset Overview 3Q19 Production PD PV-10 (MBoe/d) ( MM) Amplify Leasehold 12.5% 15% Fremont Carbon Other PF Amplify Assets Rockies Sweetwater Key Stats Net Acres: 7,000 acres WI %: 100% HBP %: 100% Net…
  24. December 2019 Investor Presentation – Amplify Energy Corp. – slide 24
    Eagle Ford Asset Overview 3Q19 Production PD PV-10 (MBoe/d) ( MM) 4.5% 4% DeWitt Other PF Amplify Assets Eagle Ford Key Stats Net Acres: 750 acres Karnes WI %: 5% HBP %: 100% Net Production: 1.5 MBoe/d1 Liquids Mix:…

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