Amplify Energy to sell Oklahoma assets for $92.5 million

HOUSTON - Amplify Energy Corp. (NYSE:AMPY) announced Wednesday it has entered into a definitive agreement to sell all of its interests in Oklahoma for $92.5 million, subject to customary post-closing adjustments. The sale represents a significant transaction for the company, which currently has a market capitalization of $182.1 million according to InvestingPro data.

The transaction is expected to close by the end of the fourth quarter of 2025 and will represent a complete exit from the company's Oklahoma operations.

This divestiture follows previously announced sales of Amplify's East Texas and Eagle Ford assets, advancing the company's strategy to simplify its portfolio, strengthen its balance sheet, and focus on what it considers its highest upside assets.

"This summer, the organization committed to a new strategic direction," said Dan Furbee, Amplify's Chief Executive Officer, in the press release. "Divesting our Oklahoma assets, in addition to selling our East Texas and Eagle Ford assets, demonstrates our commitment to seeing that plan through."

Upon completion of these transactions in the fourth quarter, the company states it will concentrate its operations on its assets in federal waters offshore Southern California (Beta) and in the Rockies (Bairoil).

TenOaks Energy Advisors is serving as financial advisor to Amplify for the Oklahoma transaction, while Kirkland and Ellis is acting as legal advisor.

Amplify Energy describes itself as an independent oil company engaged in the acquisition, development, exploitation, and production of oil properties.

In other recent news, Amplify Energy Corp. has announced plans to sell its East Texas assets for a total of $127.5 million. This strategic move is part of the company's efforts to simplify its portfolio. The exit involves two transactions, including a completed $5.5 million sale of its remaining interest in specific Haynesville basin units located in Harrison County. This transaction closed on October 24. Additionally, a pending sale of $122 million involving the remaining Haynesville and Cotton Valley interests is expected to be finalized by the end of the year. These developments mark a significant step for Amplify Energy as it continues to adjust its asset holdings.

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