Welcome to our dedicated page for Amplify Energy news (Ticker: $AMPY), a resource for investors and traders seeking the latest updates and insights on Amplify Energy stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Amplify Energy's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Amplify Energy's position in the market.
Amplify Energy Corp. (NYSE: AMPY) announced its first quarter 2024 results, including achieving average total production of 20.2 MBoepd, generating net cash provided by operating activities of $7.7 million, and a net loss of $9.4 million. The company also delivered Adjusted EBITDA of $24.9 million and $2.3 million of free cash flow. Amplify is increasing its 2024 guidance due to better-than-expected results and higher forecasted crude oil prices. The Bairoil monetization process is progressing as expected, and the Beta development program is underway, with some delays. The company successfully replaced its surety bonds and renegotiated iodine royalty contracts, expecting to increase Other Revenue in 2024. Amplify's net debt was $112 million as of March 31, 2024, with a Net Debt to Last Twelve Months Adjusted EBITDA of 1.3x.
