Amplify Energy (AMPY) Q3 2026 earnings summary

Executive summary

• Q3 production averaged 7.4 MBopd, all oil, up 9% QoQ; the post-divestiture portfolio comprises Beta and Bairoil.

• GAAP net loss was $18.9 million, primarily reflecting a $24.6 million non-cash unrealized derivative loss; Adjusted EBITDA was $10.8 million and free cash flow was $2.0 million.

• Divestitures generated ~$250 million in gross proceeds and eliminated outstanding debt; operating priorities include Beta drilling, Bairoil cost reductions, and potential CCUS.

• FY 2026 net oil production guidance narrowed to 7.0–7.3 MBbl/d; Adjusted EBITDA guidance remains $30–$40 million.

• Beta’s revised royalty framework took effect Nov. 1, while $6.9 million in share repurchases had been completed through Nov. 6.

Financial highlights

• Q3 Adjusted EBITDA was $10.8 million, versus $8.6 million in Q2 and $3.8 million in Q1; free cash flow was $2.0 million.

• Oil sales were $51.3 million; operating cash flow was $3.1 million and capital investment was $8.0 million.

• Q3 lease operating expense was $22.7 million and cash G&A was $4.6 million; FY 2026 cash G&A guidance is $20–$22 million.

• Mid-year proved reserves were 42 MMboe, with proved PV-10 of $617 million at flat $75 WTI, excluding Special Case Royalty Relief.

Outlook and guidance

• FY 2026 net oil production guidance is 7.0–7.3 MBbl/d, versus 7.0–7.5 MBbl/d previously; unhedged oil differential guidance improved to -$8 to -$10/Bbl from -$9 to -$11/Bbl.

• FY 2026 guidance includes LOE of $80–$90 million, taxes of 6%–7% of revenue, gathering and transportation of $3 million, and cash G&A of $20–$22 million.

• FY 2026 Adjusted EBITDA guidance is $30–$40 million; capital investment is $50–$55 million and the Beta sinking fund is $9 million.

• Guidance assumes $90/Bbl WTI; a new CO₂ contract and compression optimization are expected to deliver ~$10 million in annual Bairoil LOE savings.