Amplify Energy Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Amplify Energy Corp. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Amplify Energy Corp. (AMPY) filed a Annual Report (10-K) with the SEC on March 7, 2024. Amplify Energy Corp. filed its 2023 Form 10-K on March 7, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located in Houston, Texas. Amplify Energy Corp. was formerly known as Midstates Petroleum Company, Inc. The SIC code for Amplify Energy Corp. is 1311 (Crude Petroleum & Natural Gas).

Why It Matters

For investors and stakeholders tracking Amplify Energy Corp., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Amplify Energy Corp.'s financial performance, operational activities, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks, including those related to its operations in the crude petroleum and natural gas sector.

Risk Assessment

Risk Level: — Amplify Energy Corp. shows moderate risk based on this filing. The company operates in the crude petroleum and natural gas industry, which is subject to significant market volatility, regulatory changes, and operational risks, as detailed in its 10-K filing.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Amplify Energy Corp.'s performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-07 — Filing Date (Date the filing was made)
• 001-35512 — SEC File Number (SEC file number for Amplify Energy Corp.)

Key Players & Entities

• Amplify Energy Corp. (company) — Filer name
• Midstates Petroleum Company, Inc. (company) — Former company name
• Houston, Texas (location) — Business address city and state
• 713-588-8369 (phone) — Business phone number
• 1311 (SIC code) — Standard Industrial Classification code

FAQ

Industry Context

Amplify Energy Corp. operates in the crude petroleum and natural gas sector, an industry characterized by commodity price fluctuations and significant regulatory oversight.

Regulatory Implications

Companies in the oil and gas sector are subject to various environmental, safety, and operational regulations from federal and state agencies.

What Investors Should Do

1. Analyze the company's financial statements for the fiscal year 2023.
2. Review the risk factors section for potential challenges and uncertainties.
3. Examine any disclosures related to operational performance and capital expenditures.

Key Dates

• 2023-12-31: Fiscal Year End — The end date of the reporting period for the 10-K filing.
• 2024-03-07: Filing Date — The date Amplify Energy Corp. submitted its 10-K filing to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, providing updated financial and operational information compared to previous periods.

Key Financial Figures

• $6.77 — 13.3 million on June 30, 2023, based on $6.77 per share, the last reported sales pric
• $0.01 — 258 outstanding shares of common stock, $0.01 par value per share. Documents Incorpo

Filing Documents

• ampy-20231231x10k.htm (10-K) — 3027KB
• ampy-20231231xex10d18.htm (EX-10.18) — 64KB
• ampy-20231231xex10d19.htm (EX-10.19) — 100KB
• ampy-20231231xex21d1.htm (EX-21.1) — 8KB
• ampy-20231231xex23d1.htm (EX-23.1) — 4KB
• ampy-20231231xex23d2.htm (EX-23.2) — 2KB
• ampy-20231231xex31d1.htm (EX-31.1) — 17KB
• ampy-20231231xex31d2.htm (EX-31.2) — 18KB
• ampy-20231231xex32d1.htm (EX-32.1) — 18KB
• ampy-20231231xex97d1.htm (EX-97.1) — 31KB
• ampy-20231231xex99d1.htm (EX-99.1) — 67KB
• ampy-20231231x10k008.jpg (GRAPHIC) — 16KB
• ampy-20231231x10k009.jpg (GRAPHIC) — 13KB
• ampy-20231231xex23d1001.jpg (GRAPHIC) — 17KB
• ampy-20231231xex23d1002.jpg (GRAPHIC) — 4KB
• ampy-20231231xex97d1001.jpg (GRAPHIC) — 10KB
• ampy-20231231xex99d1001.jpg (GRAPHIC) — 32KB
• ampy-20231231xex99d1002.jpg (GRAPHIC) — 6KB
• ampy-20231231xex99d1003.jpg (GRAPHIC) — 14KB
• 0001558370-24-002637.txt (&nbsp;) — 12894KB
• ampy-20231231.xsd (EX-101.SCH) — 85KB
• ampy-20231231_cal.xml (EX-101.CAL) — 96KB
• ampy-20231231_def.xml (EX-101.DEF) — 258KB
• ampy-20231231_lab.xml (EX-101.LAB) — 685KB
• ampy-20231231_pre.xml (EX-101.PRE) — 505KB
• ampy-20231231x10k_htm.xml (XML) — 2451KB

Business

Business 13 Item 1A.

Risk Factors

Risk Factors 37 Item 1B. Unresolved Staff Comments 58 Item 1C. Cybersecurity 58 Item 2.

Properties

Properties 59 Item 3.

Legal Proceedings

Legal Proceedings 59 Item 4. Mine Safety Disclosures 59 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 60 Item 6. Reserved 60 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 61 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 74 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 74 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 75 Item 9A.

Controls and Procedures

Controls and Procedures 75 Item 9B. Other Information 77 Item 9C . Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 77 PART III Item 10. Directors, Executive Officers and Corporate Governance 78 Item 11.

Executive Compensation

Executive Compensation 78 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 78 Item 13. Certain Relationships and Related Transactions, and Director Independence 78 Item 14. Principal Accountant Fees and Services 78 PART IV Item 15. Exhibits, Financial Statement Schedules 79 Item 16. Form 10-K Summary 82

Signatures

Signatures 83 Table of Contents GLOSSARY OF OIL AND NATURAL GAS TERMS 3-D seismic : Geophysical data that depict the subsurface strata in three dimensions. 3-D seismic typically provides a more detailed and accurate interpretation of the subsurface strata than 2-D, or two-dimensional, seismic. Analogous Reservoir : Analogous reservoirs, as used in resource assessments, have similar rock and fluid properties, reservoir conditions (depth, temperature and pressure) and drive mechanisms, but are typically at a more advanced stage of development than the reservoir of interest and thus may provide concepts to assist in the interpretation of more limited data and estimation of recovery. When used to support proved reserves, analogous reservoir refers to a reservoir that shares all of the following characteristics with the reservoir of interest: (i) the same geological formation (but not necessarily in pressure communication with the reservoir of interest); (ii) the same environment of deposition; (iii) similar geologic structure; and (iv) the same drive mechanism. API Gravity : A system of classifying oil based on its specific gravity, whereby the greater the gravity, the lighter the oil. Basin : A large depression on the earth's surface in which sediments accumulate. Bbl : One stock tank barrel, or 42 U.S. gallons liquid volume, used in reference to oil or other liquid hydrocarbons. Bbl/d : One Bbl per day. Bcfe : One billion cubic feet of natural gas equivalent. Boe : One barrel of oil equivalent, calculated by converting natural gas to oil equivalent barrels at a ratio of six Mcf of natural gas to one Bbl of oil. Boe/d : One Boe per day. BOEM : Bureau of Ocean Energy Management. BSEE : Bureau of Safety and Environmental Enforcement. Btu : One British thermal unit, the quantity of heat required to raise the temperature of a one-pound mass of water by one-degree Fahrenheit. CO 2 : Carbon dioxide. Deterministic Estimate : The method of estimating reserve

View Full Filing

View this 10-K filing on SEC EDGAR