Quarterly ResultMay 11, 2026, 04:07 PM
Amplify Energy Q1 Net Loss $38.1M; Beta Royalty Relief to Boost Revenue
AI Summary
Amplify Energy reported a net loss of $38.1 million for Q1 2026, primarily due to a non-cash unrealized loss on commodity derivatives, but achieved Adjusted Net Income of $5.3 million and Adjusted EBITDA of $3.8 million, both in line with expectations. The company secured significant royalty relief at its Beta field, effective May 1, 2026, reducing the burden by 50% and expected to generate over $1.0 million per month in incremental revenue. Amplify also reaffirmed its full-year 2026 guidance, expecting Adjusted EBITDA at the high end of the range.
Key Highlights
- Beta field royalty burden reduced by 50% (from 25% to 12.5%) effective May 1, 2026.
- Royalty relief expected to generate over $1.0 million per month in incremental revenue.
- Q1 2026 net loss of $38.1 million, compared to net income of $64.4 million in Q4 2025.
- Q1 2026 Adjusted Net Income of $5.3 million and Adjusted EBITDA of $3.8 million.
- Average daily production was 6.4 MBopd (100% oil) in Q1 2026.
- Cash and cash equivalents of $41.5 million and no outstanding debt as of March 31, 2026.
- Reaffirmed full-year 2026 guidance, with Adjusted EBITDA expected at the high end ($20M-$45M range).
- Q1 2026 capital investment totaled $21.0 million, primarily at Beta.