Amplify Energy to sell working interest in its Eagle Ford assets for $23M

Amplify Energy (AMPY) announced it entered into a definitive agreement to sell all of its non-operated working interest in its Eagle Ford assets to Murphy Exploration & Production Company — USA for a contract price of $23M, subject to certain post-closing adjustments. The sale closed July 1 and has an effective date of June 15. The net proceeds from the sale will be used to pay down debt which will enhance the Company’s liquidity. With an improved balance sheet, Amplify is considering adding back high-return Beta development wells in 2025 that it had previously deferred in May. The Company expects to provide updated full-year 2025 guidance at the time it provides second quarter operating and financial results.