Amplify Energy Q3 average total production rises 9% sequentially
AMPY•Amplify Energy’s third-quarter average total production rose 9% sequentially. Adjusted net income was $716,000, while the company reported a net loss of $18.9 million and maintained its 2026 adjusted EBITDA guidance at $30 million to $40 million.
1. Quarterly results
Average total production rose 9% from the prior quarter, driven by higher output and royalty relief. Adjusted net income was $716,000, compared with a loss in the second quarter; the company reported a third-quarter net loss of $18.9 million and adjusted EBITDA of $10.8 million.
2. Guidance and buybacks
Amplify lowered the upper end of its 2026 lease operating expense guidance to $90 million and expects average daily oil production of 7.0 million to 7.3 million barrels. It maintained adjusted EBITDA guidance of $30 million to $40 million and repurchased 1.6 million shares, about 4% of shares outstanding.
3. Operating factors
Strong output from the C29 and C16 wells and royalty relief at Beta boosted production and revenue. Lower lease operating expenses at Bairoil improved profitability, while realized commodity derivative losses weighed on results.
