Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. The company's activities are conducted through its wholly owned subsidiary OLLC and its subsidiaries. As of the date of the annual report, its remaining producing assets consist of the Bairoil field in Wyoming and the Beta field in federal waters offshore Southern California.

Amplify Energy generates revenue primarily from the sale of crude oil and natural gas produced from its operated properties. The company sells its output under short term contracts that are typically renewed month to month, with prices tied to prevailing market benchmarks such as WTI for oil and Henry Hub for natural gas. Its customer base includes refiners and marketing companies that purchase the produced hydrocarbons for further processing or resale.

The company operates through the following segments.

• Oil and Natural Gas: The segment is responsible for the acquisition, development, exploitation and production of oil and natural gas properties, including operating the Bairoil and Beta fields and managing associated infrastructure such as the San Pedro Bay Pipeline.

Amplify Energy operates as an independent exploration and production company in a highly competitive industry where larger integrated oil firms and other independents possess greater financial, technical and personnel resources. The company differentiates itself by focusing on a focused asset base in the Bairoil and Beta fields, maintaining operational control of its properties and utilizing its expertise in offshore and onshore production to optimize costs and maintain flexibility. Its competitive position is supported by its ability to act quickly on acquisition and divestiture opportunities and by its experienced technical team.

Amplify Energy sells its oil and natural gas production to a range of refiners, marketers and energy traders. Its largest customers have historically included Phillips 66, which accounted for approximately 28% of revenues in 2025, HF Sinclair Corporation at about 21%, and Southwest Energy LP, which represented roughly 10% of sales in 2024. Following the termination of its agreement with Phillips 66 in October 2025, the company has secured alternative purchasers for its Beta crude oil.