Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) today posted a new presentation on its website, providing additional information on its previously announced definitive agreement to acquire Juniper Capital’s upstream Rocky Mountain portfolio companies.
The presentation, which can be found on the Company’s investor relations page of its website at https://www.amplifyenergy.com/Amplify-Rockies-Transaction-Highlights/, details the expected financial and diversification benefits of the merger and how it is expected to enhance Amplify’s ability to generate long-term shareholder value. Key highlights include:
Free cash flow and value accretion:
2025 free cash flow per share projected to increase from $0.50 per share to greater than $0.70 per share1
Total proved reserve value projected to increase ~89% from $688 million to $1.3 billion2
Greater portfolio flexibility:
New Rockies asset base allows Amplify the opportunity to accelerate value creation through portfolio optimization
Lower operating cost to improve resiliency of asset base in low or high commodity price environment
Organic growth potential:
Juniper assets include multi-year inventory of identified, high quality undeveloped drilling locations
Proved undeveloped drilling locations adjacent to premier public company operators
Meaningful operating synergies:
Pro-forma Adjusted EBITDA per BOE expected to increase 40% due to higher oil weighting and lower cost structure3
Pro-forma G&A per BOE expected to decrease >20% due to economies of scale4
Path to enhance shareholder value:
Increased free cash flow and scale, along with expected refinancing, projected to increase liquidity and flexibility
Free cash flow provides optionality to reduce leverage and return capital to shareholders
Amplify also reminds shareholders to vote on the two proposals regarding the merger. The Special Meeting of Shareholders to approve the proposals is scheduled to take place virtually on April 14, 2025, at 9:00 a.m. Central Time. The methods for voting and submitting proxies are described in the distributed proxy materials for the Special Meeting.
The Board unanimously recommends that shareholders vote “FOR” both proposals. The proposals are critical to the completion of the merger agreement, which the Board has unanimously determined to be in the best interests of the Company and its shareholders.
Each vote is important, regardless of how many shares owned, and whether or not shareholders expect to attend the Special Meeting. Amplify asks that all shareholders vote as soon as possible “FOR” both proposals, to ensure that their shares are represented at the Special Meeting.
