Strong First Quarter Financial Performance
Amplify generated $19.4 million of adjusted EBITDA and $25.5 million of operating cash flow, with a production rate of 17,900 BOE per day.
Successful Beta Field Development
The C54 well in the D-Sand had an IP20 of approximately 800 barrels of oil per day, outperforming expectations with IRRs over 90% at $60 oil prices.
Positive Acreage Monetization
Amplify sold 90% of its interest in certain Haynesville units for a total of $9.2 million in net proceeds, while retaining a 10% working interest.
Cost Management and Hedging Strategy
Amplify deferred $50 million in capital projects due to oil price reduction, maintaining strong free cash flow. The company also expanded its hedging to protect future cash flows.