Amplify Energy Corp. (NYSE: AMPY) reported net income of $64.4 million for the fourth quarter of 2025, compared to a net loss of $21.0 million in the prior quarter, according to the company's earnings announcement.

The Houston-based oil and gas company completed six asset divestitures in 2025 for approximately $250 million in total consideration, including fourth-quarter transactions that resulted in complete exits from East Texas, Louisiana, Oklahoma, and Magnify operations. The company used proceeds to eliminate all outstanding debt under its credit facility and ended 2025 with approximately $61 million in cash.

Fourth-quarter production averaged 17.1 thousand barrels of oil equivalent per day (MBoepd), down from 19.7 MBoepd in the third quarter. The company's product mix consisted of 44% crude oil, 15% natural gas liquids, and 41% natural gas. Total oil and gas revenues reached $54.7 million before derivative impacts.

Amplify's year-end 2025 proved reserves totaled 38.1 million barrels of oil equivalent (MMBoe) at its Beta and Bairoil properties, representing a 2.6 MMBoe increase year-over-year. The reserves carried a PV-10 value of approximately $376 million using SEC pricing of $65.34 per barrel for oil.

For 2026, the company projects capital investment of $45-65 million, with over 95% allocated to its Beta asset in the Pacific Outer Continental Shelf. The company plans to drill and complete five to eight wells at Beta, focusing primarily on the Joulters fault block. At Bairoil, cost-saving initiatives implemented in 2025 are expected to reduce annual lease operating expenses by approximately $10 million.

The company amended and extended its revolving credit facility through 2028, with an initial borrowing base of $25 million and elected commitments of $15 million. Amplify had no outstanding balance under the facility as of December 31, 2025.