Amplify Energy Secures 12.5% Beta Field Royalty Relief, Posts Q1 Adjusted EBITDA $3.8M
Amplify Energy’s first-quarter 2026 results included average production of 6.4 Mbopd, Adjusted EBITDA of $3.8 million, $5.3 million adjusted net income and a $38.1 million net loss. Royalty relief at the Beta field cut burdens from 25% to 12.5%, boosting net production by over 600 bopd and adding more than $1 million in monthly revenue.
1. First-Quarter Financial Results
During the first quarter of 2026, Amplify Energy averaged 6.4 million barrels of oil per day, generated $4.5 million in operating cash flow and reported a net loss of $38.1 million primarily driven by a $43.4 million unrealized derivatives loss, while delivering Adjusted EBITDA of $3.8 million and adjusted net income of $5.3 million.
2. Beta Field Royalty Relief
Effective May 1, royalty rates at the company’s Beta field were reduced from 25% to 12.5%, increasing net production by over 600 bopd and expected to generate in excess of $1 million in incremental monthly revenue at current commodity prices.
3. Drilling Program and Well Performance
Amplify completed the C04 well in March, achieving a peak IP30 of 500 bopd and projecting a payout within six months at current prices for an IRR above 100%. The C32 well, spud in late March, encountered mechanical complications in shallow formations and was abandoned prior to setting intermediate casing.
4. Balance Sheet and Full-Year Guidance
As of March 31, the company had no outstanding debt under its revolving credit facility and held $41.5 million in cash and equivalents. It concluded transition services for its East Texas and Oklahoma divestitures and reaffirmed its full-year 2026 production and financial guidance.