NYSE: AMPY Amplify Energy Corp. August 2021 Investor Presentation August 4, 2021
Key Highlights Increased full-year 2021 production guidance midpoint to 24.5 MBoepd from 24.0 MBoepd Continued 2Q21 production of 25.3 MBoepd Operational Excellence1, 2 Achieved unhedged operating margin of 18.07/Boe in 2Q21, a 17%…
Robust, Low-Decline Cash Generating Assets Asset Overview Asset Locator Map Diversified Production: Nearly 60/40 liquids and gas production mix (40% oil) from 5 producing basins in different areas of the U.S. mitigates regional…
Amplify Corporate ESG Profile Upgraded infrastructure to detect spills and other failures earlier Environmental Developed in-house software and workflows to streamline asset Focus monitoring and minimize environmental impact 50%…
Current Trading Levels Offer Attractive Entry Point Key Points 1P Reserves Summary 1P reserve value at NYMEX strip pricing is substantially Net Total % PD PV-10 & PUD PV-20 (WTI / HH) Category greater than Amplify's current…
Amplify Value Proposition Sustainable free cash flow through efficiently Capital allocation focused on debt operating low-decline, high margin assets reduction, enhancing shareholder value and prudent asset reinvestment Mature,…
1 Top-Tier Free Cash Flow Generation Key Points LTM Free Cash Flow Yield Peer Group Comparison1 Our diversified, low- 75% decline, PDP-heavy portfolio, paired with a 60% commitment to 45% operational excellence and the…
1 Capital Allocation Strategy Balance Sheet Improvement Capitalize on operational efficiencies to enhance margins and maximize operating cash flows Rapid deleveraging of balance sheet provides future optionality to allocate…
2 Low-Decline, Mature Producing Properties Key Points Net PDP Production Forecast Amplify's PD reserves base is expected to generate 25 22.8 substantial free cash flow 20.7 over the next ten years and 18.9 Production (MBoe/d)…
3 Efficient Corporate Platform Increasing Cash G&A Efficiency Over Time G&A Unit G&A 12.5 5.00 Unit Cash G&A Expense (/Boe) Cash G&A Expense (MM) 10.0 4.00 2019 Avg: 2.84/Boe 7.5 2020 Avg: 2.57/Boe 3.00 5.0 2.00…
3 Enhancing Company Margins Key Points First Half 2021 Company Metrics Comparison Achieved unhedged operating margin of 18.07/Boe in 2Q21, Product Breakdown a 17% increase quarter-over- quarter Oil Oil Oil Gas 36% Gas 38%…
4 Rapid Deleveraging Using Organic Cash Flows 2021 2023 Cumulative Free Cash Flow Sensitivity1, 2, 3, 4 Leverage Cum. FCF at Strip Cum. FCF at 55/3.00 Cum. FCF at 65/3.25 250 3.0x 213 204 2.5x 200 Cumulative Free Cash Flow…
4 Solidified FCF Generation with Pricing Upside Key Points Oil Hedge Position1,2,3 Amplify has taken advantage 85 - 90% 80 - 85% of the recent run-up in crude and natural gas pricing to layer on additional hedges in 2022 30 -…
5 Expanding Reserves & Long-Term Profitability Beta Development Update Formation Structure Map Type Log Beta phased development improves 2022+ FCF D Sand Formation generation, de-risks future development opportunities and…
Investment Highlights Diversified Portfolio of Producing Properties Requiring Minimal Capital Established a Peer-Leading Free Cash Flow Profile Built on Mature, Low-Decline Assets Beta Field Development Enhances Profitability…
Appendix NYSE: AMPY
2021 Guidance and Details FY 2021E Low High Net Average Daily Production Oil (MBbls/d) 9.9 - 10.2 NGL (MBbls/d) 3.6 - 4.0 Natural Gas (MMcf/d) 63.0 - 65.0 Total (MBoe/d) 24.0 - 25.0 Commodity Price Differential / Realizations…
Crude Oil Hedge Position Bal21-2023 Crude Hedge Breakdown Period Bal20211 FY2022 FY2023 Strip Pricing (As of 7/30/21) 72.19 66.87 61.49 Swap Average Monthly Volumes (MBbl) 172.5 99.0 55.0 Wtd. Avg. Fixed Price (/Bbl) 49.37 55.68…
Natural Gas Hedge Position Bal21-2023 Natural Gas Hedge Breakdown Period Bal20211 FY2022 FY2023 Strip Pricing (As of 7/30/21) 3.99 3.46 2.97 Swap Average Monthly Volumes (MMcf) 970.0 695.0 Wtd. Avg. Fixed Price (/Mcf) 2.49…
NGL Hedge Position Bal21 NGL Hedge Breakdown Period Bal20211 Strip Pricing (As of 7/30/21)2 37.88 Swap Average Monthly Volumes (MBbl) 20.3 Wtd. Avg. Fixed Price (/Bbl) 23.74 Hedges to 2020 SEC Reserve Report Hedged Percent (%) 15…
Oklahoma Overview 2Q21 Production YE 2020 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets Oklahoma Key Stats Net Acres: 100,000 acres1 WI %: 76%1 Net Production: 6.6 MBoe/d2 Liquids Mix: 49%2 PD Reserves: 36.3 MMBoe3,…
Rockies Overview 2Q21 Production YE 2020 PD Reserves (MBoe/d) (MMBoe) Amplify Leasehold Fremont Other Amplify Assets Rockies Carbon Key Stats Sweetwater Net Acres: 7,000 acres1 WI %: 100%1 Net Production: 3.4 MBoe/d2…
Southern California (Beta) Overview Federal Waters 2Q21 Production YE 2020 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets Southern California Key Stats Net Acres: 17,000 acres1 WI %: 100%1 Net Production: 3.6 MBoe/d2 Oil…
East Texas / North Louisiana Overview 2Q21 Production YE 2020 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets ETX / NLA Key Stats Net Acres: 210,000 acres1 WI %: 56%1 Net Production: 10.3 MBoe/d2 Liquids Mix: 25%2 PD…
Eagle Ford Overview 2Q21 Production YE 2020 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets Eagle Ford DeWitt Key Stats Net Acres: 800 acres1 Karnes WI %: 8%1 Net Production: 1.4 MBoe/d2 Liquids Mix: 89%2 PD Reserves:…
Reconciliation of PV-10 to Standardized Measure Amplify refers to Standardized Measure as the present value of estimated future net revenue to be generated from the production of proved reserves, determined in accordance with the rules,…
Non-GAAP Reconciliations Three Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 June 30, 2020 (Amounts in 000s) Reconciliation…
Non-GAAP Reconciliations (Contd.) Three Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 June 30, 2020 (Amounts in 000s)…
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