Amplify Energy (NYSE: AMPY) closed an amended senior secured reserve-based revolving credit facility with Citizens Bank, extending the facility maturity to December 31, 2028. The amendment sets an initial borrowing base of $25 million with elected commitments of $15 million, and the borrowing base will be redetermined semi-annually with the next redetermination expected in Q2 2026. After closing on December 31, 2025, the company had no borrowings outstanding under the facility and reported having cash on hand to fund its strategic objectives.
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- Facility maturity extended to Dec 31, 2028
- Initial borrowing base set at $25 million
- Elected commitments of $15 million
- No balance drawn after amendment; company has cash on hand
- Borrowing base subject to semi-annual redeterminations
- Reserve-based facility could reduce availability at redetermination
Initial borrowing base
$25 million
Amended reserve-based revolving credit facility
Elected commitments
$15 million
Amended revolving credit facility commitments
Facility maturity
December 31, 2028
Extended maturity of amended revolving credit facility
Borrowing base review
Semi-annual
Borrowing base redetermined twice per year
Next redetermination
2Q 2026
Next borrowing base redetermination timing
Revolver balance
$0
No balance drawn on revolving credit facility after amendment closing
$4.57
Last Close
Volume
Volume 641,324 vs 20-day average 596,101 (relative volume 1.08x) ahead of this announcement.
normal
Technical
Shares at $4.57, trading above 200-day MA of $3.97 before the credit facility news.
Peers on Argus
Peers showed mixed moves: Empire Petroleum up 1.33%, AleAnna up 3.08%, while Kolibri Global Energy fell 1.75% and others were modestly negative, indicating stock-specific rather than broad sector momentum for AMPY.
Date
Event
Sentiment
Move
Catalyst
Asset sale closing
Positive
-0.2%
Closed Oklahoma divestiture for $92.5M and eliminated revolver debt.
Asset sale closing
Positive
-2.1%
Closed East Texas divestiture for $122.0M with balance sheet focus.
Earnings & strategy
Positive
+1.6%
Q3 results plus $220.0M divestiture plan and balance sheet update.
Asset sale agreement
Positive
+1.6%
Agreement to sell Oklahoma assets for $92.5M and simplify portfolio.
Asset sale announcement
Positive
+2.1%
Announced East Texas exits for $127.5M to pay down debt and refocus.
Recent divestiture and strategy updates were generally positive but produced mixed price reactions, with three aligned positive moves and two mild divergences.
Over the last few months, Amplify has focused on portfolio simplification and balance sheet changes. It announced East Texas asset divestitures for $127.5M on Oct 29, followed by an Oklahoma sale agreement for $92.5M on Nov 5. Q3 results on Nov 5 highlighted $220.0M in planned divestitures and use of proceeds to reduce revolver debt. Closings of East Texas and Oklahoma sales in late December eliminated revolver debt. Today’s amended revolving facility follows that deleveraging and supports the post-divestiture company.
This announcement extends Amplify’s senior secured reserve-based revolving credit facility to December 31, 2028, with an initial borrowing base of $25 million and elected commitments of $15 million. The facility was undrawn at closing, following recent divestitures that eliminated prior revolver debt. Investors may track upcoming semi-annual borrowing base reviews, including the next in 2Q 2026, alongside how the company deploys cash on hand toward its stated strategic objectives and remaining core assets.
borrowing base
financial
“The initial borrowing base under the amended revolving credit facility is $25 million…”
A borrowing base is the amount a lender will allow a company to borrow based on the value of assets the company offers as security, typically things like accounts receivable and inventory. It matters to investors because it sets a practical ceiling on short-term financing and influences a company’s liquidity and risk: if the borrowing base falls, the company may lose access to cash or be forced to sell assets, which can affect operations and share value.
AI-generated analysis. Not financial advice.
12/31/2025 – 05:27 PM
HOUSTON, Dec. 31, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify,” the “Company,” “us,” or “our”) announced today that it closed the previously announced amended revolving credit facility.
The amended senior secured reserve-based revolving credit facility, with Citizens Bank, N.A. as the administrative agent, amends the Company’s existing senior secured reserve-based revolving credit facility and extends the maturity to December 31, 2028.
The initial borrowing base under the amended revolving credit facility is $25 million with elected commitments of $15 million. The borrowing base will be redetermined on a semi-annual basis with the next redetermination expected to occur in the second quarter of 2026. After closing the amendment on December 31, 2025, Amplify had no balance drawn on the revolving credit facility and cash on hand to fund its strategic objectives.
About Amplify Energy
Amplify Energy Corp. is an independent oil company engaged in the acquisition, development, exploitation and production of oil. Amplify’s operations are focused in Beta (Pacific Offshore Continental Shelf) and Bairoil (Rockies). For more information, visit www.amplifyenergy.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. Terminology such as “may,” “will,” “would,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “outlook,” “continue,” the negative of such terms or other comparable terminology are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the anticipated timing of the redetermination of the borrowing base under the amended revolving credit facility. These statements address activities, events or developments that we expect or anticipate will or may occur in the future, including things such as projections of results of operations, plans for growth, goals, future capital expenditures, competitive strengths, references to future intentions and other such references. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. These include risks and uncertainties relating to, among other things: the ability to complete the potential sale of the Company’s assets in Oklahoma on favorable terms, or at all; the Company’s evaluation and implementation of strategic alternatives; risks related to the redetermination of the borrowing base under the Company’s revolving credit facility; the Company’s ability to satisfy debt obligations; the Company’s need to make accretive acquisitions or substantial capital expenditures to maintain its declining asset base, including the existence of unanticipated liabilities or problems relating to acquired or divested business or properties; volatility in the prices for oil, natural gas and NGLs; the Company’s ability to access funds on acceptable terms, if at all, because of the terms and conditions governing the Company’s indebtedness, including financial covenants; general political and economic conditions, globally and in the jurisdictions in which we operate, including the Russian invasion of Ukraine, and ongoing conflicts in the Middle East, trade wars and the potential destabilizing effect such conflicts may pose for the global oil and natural gas markets; expectations regarding general economic conditions, including inflation; and the impact of local, state and federal governmental regulations, including those related to climate change and hydraulic fracturing, and potential changes in these regulations. Please read the Company’s filings with the SEC, including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/sec-filings/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
Contacts
Jim Frew — President and Chief Financial Officer
(832) 219-9044
jim.frew@amplifyenergy.com
Michael Jordan — Vice President, Finance and Treasury
(832) 219-9051
michael.jordan@amplifyenergy.com
FAQ
Amplify closed an amended senior secured reserve-based revolving credit facility, extending maturity to Dec 31, 2028 with an initial borrowing base of $25 million.
The amended facility includes elected commitments of $15 million.
Yes; the borrowing base is redetermined semi-annually and the next redetermination is expected in Q2 2026.
No; after closing on Dec 31, 2025 the company had no balance drawn on the facility.
The amendment provides an initial borrowing base of $25M and commitments of $15M, and the company reported cash on hand to fund strategic objectives.