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3Q 2022 Earnings Presentation – Amplify Energy Corp.

Amplify Energy Corp. · Nov 4, 2022 · 26 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. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 1
    NYSE: AMPY Amplify Energy Corp. November 2022 Investor Presentation November 1, 2022
  2. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 2
    Update on the Southern California Release Operations Update Operations are currently underway to repair and replace the sections of our pipeline that were damaged in 2021 Once repair work is complete, Amplify will work to satisfy…
  3. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 3
    Key Highlights Delivered 31 MM of Adjusted EBITDA in 3Q22 and 72 MM YTD in 2022 Focused Full-year 2022 production and Adjusted EBITDA guidance of 20.0 21.0 Mboepd and 90 100 MM, Operational respectively Excellence1 Took gas in kind…
  4. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 4
    Robust, Low-Decline, Cash Generating Assets Asset Overview Asset Locator Map Diversified Production: 50/50 liquids and gas mix (30% oil) from 5 producing basins in different areas of the U.S. mitigates regional pricing and…
  5. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 5
    Amplify Corporate ESG Profile Dramatically reducing GHG emissions by optimizing asset infrastructure Environmental No routine methane flaring Focus Mobilized over 1,800 spill response contractors to safely and expeditiously…
  6. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 6
    Illustrative FCF and Net Debt Profile 2022 2024 Cumulative FCF and Net Debt Sensitivity1,2,3,4,5 Net Debt Strip - Beta Online 03/31/23 Cum. FCF at Strip - Beta Online 03/31/23 Cum. FCF at Strip +10% - Beta Online 03/31/23 350…
  7. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 7
    Current Trading Levels Offer Attractive Entry Point Key Points 1P Reserves Summary1 1P reserve value at NYMEX strip pricing is substantially Net Total % PD PV-10 & PUD PV-201,6 (WTI / HH) Category greater than Amplify's current…
  8. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 8
    Amplify Value Proposition Sustainable free cash flow through efficiently Capital allocation focused on debt operating low-decline, high margin assets1 reduction, prudent asset reinvestment and enhancing shareholder value Mature,…
  9. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 9
    Low-Decline, Mature Producing Properties Key Points Net YE 2021 SEC PDP Production Forecast (MBoe/d)2 Amplify's PD reserves base is expected to generate 25 substantial free cash flow over the next ten years and 20 beyond1,2 15…
  10. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 10
    Maintaining Financial Discipline Through Cycles Key Points Free Cash Flow Over Time ( MM)1,2,3 Our diversified, low-decline, Revenue Controllable Costs Non-Controllable Costs Capex Hedging Impact FCF PDP-heavy portfolio, paired…
  11. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 11
    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 additional…
  12. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 12
    Investment Highlights Implied year-end 2021 PD equity value represents a 100% premium to current share price 1,2 Diversified Portfolio of Producing Properties Requiring Minimal Capital Sustainable Free Cash Flow Profile Built…
  13. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 13
    Appendix NYSE: AMPY
  14. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 14
    2022 Updated Guidance and Details FY 2022E4,5 Low High Net Average Daily Production (Excludes Beta Production)4 Oil (MBbls/d) 6.2 - 6.5 NGL (MBbls/d) 3.6 - 4.0 Natural Gas (MMcf/d) 61.0 - 63.5 Total (MBoe/d) 20.0 - 21.0…
  15. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 15
    Solidified FCF Generation with Pricing Upside Key Points Oil Hedge Position1,2,3 Recently took advantage of the volatility present in the gas 85 - 95% market to improve the floor and ceilings on our collar positions in 2023 and…
  16. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 16
    Crude Hedge Detail Bal22-2023 Crude Hedge Breakdown Period Bal20221 FY2023 Strip Pricing as of 10/28/2022 86.92 79.73 Swap Total Volumes (MBbl) 171 660 Daily Volumes (Bbl/d) 1,859 1,808 W. Avg. Fixed Price (/Bbl) 48.27 57.30…
  17. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 17
    Natural Gas Hedge Detail Bal22-2023 Natural Gas Hedge Breakdown Period Bal20221 FY2023 Strip Pricing as of 10/28/2022 5.87 5.02 Swap Total Volumes (MMcf) 2,085 Daily Volumes (Mcf/d) 22,663 W. Avg. Fixed Price (/MMBtu) 2.56…
  18. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 18
    Oklahoma Overview 3Q22 Production YE 2021 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets Oklahoma Key Stats Net Acres: 95,000 acres1 WI %: 76%1 Net Production: 6.8 MBoe/d2 Liquids Mix: 48%2 PD Reserves: 35.0…
  19. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 19
    Rockies (Bairoil) Overview 3Q22 Production YE 2021 PD Reserves (MBoe/d) (MMBoe) Amplify Leasehold Fremont Carbon Other Amplify Assets Rockies Sweetwater Key Stats Net Acres: 7,000 acres1 WI %: 100%1 Net Production: 3.6…
  20. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 20
    Southern California (Beta) Overview Federal Waters 3Q21 Production YE 2021 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets Southern California Key Stats Net Acres: 17,000 acres1 WI %: 100%1 Net Production: 3.7 MBoe/d2 Oil…
  21. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 21
    East Texas / North Louisiana Overview 3Q22 Production YE 2021 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets ETX / NLA Key Stats Net Acres: 195,000 acres1 WI %: 56%1 Net Production: 9.2 MBoe/d2 Liquids Mix: 25%2 PD…
  22. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 22
    Eagle Ford Overview 3Q22 Production YE 2021 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: 90%2 PD Reserves:…
  23. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 23
    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,…
  24. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 24
    Non-GAAP Reconciliations Nine Months Twelve Months Twelve Months Three Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended Ended Ended Ended September 30, 2022 December 31, 2021 December 31, 2020…
  25. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 25
    Non-GAAP Reconciliations (Contd) Nine Months Twelve Months Twelve Months Three Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended Ended Ended Ended September 30, 2022 December 31, 2021 December…
  26. 3Q 2022 Earnings Presentation – Amplify Energy Corp. – slide 26
    NYSE: AMPY

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