Amplify Energy has entered into a definitive agreement to sell all of its interests in Oklahoma for a total contract price of $92.5 million, subject to customary post-closing adjustments. The Oklahoma Transaction is expected to close by the end of the fourth quarter of 2025 and will represent a complete exit from the Company’s interests in Oklahoma.
In combination with the previously announced divestitures of its East Texas and Eagle Ford assets, the Company is making significant progress on the Company’s previously announced plan of simplifying its portfolio, strengthening its balance sheet, and focusing on its highest upside assets.
Dan Furbee, Amplify’s Chief Executive Officer, stated, 'This summer, the organization committed to a new strategic direction. Divesting our Oklahoma assets, in addition to selling our East Texas and Eagle Ford assets, demonstrates our commitment to seeing that plan through. Upon closing these transactions in the fourth quarter, Amplify will be extremely well positioned to create significant upside value at both Beta and Bairoil.'
On the Oklahoma transaction, TenOaks Energy Advisors is serving as financial advisor to Amplify while Kirkland and Ellis is serving as Amplify’s legal advisor.
About Amplify Energy
Amplify Energy Corp. is an independent oil company engaged in the acquisition, development, exploitation, and production of oil properties. Amplify’s operations are focused in federal waters offshore Southern California (Beta), and the Rockies (Bairoil). For more information, visit www.amplifyenergy.com.
Original announcement link
Source: Amplify Energy
