Amplify Energy reported third-quarter 2026 operating and financial results, highlighting production from its Beta development, lower operating costs at Bairoil and recent share repurchases. It also announced that a lower royalty rate on all Beta production took effect November 1, after the quarter ended.
Key details
- Beta royalty relief: Effective November 1, Amplify secured Special Case Royalty Relief that reduces the royalty rate on all production at Beta to about 12.4%.
- Share repurchases: Through November 4, the company had bought back about 1.6 million shares—roughly 4% of shares outstanding—for approximately $6.9 million. The average purchase price was $4.35 per share.
- Beta well performance: The C29 well, completed in June, averaged about 380 gross barrels of oil per day in the third quarter. Amplify estimates a 10-month payout and an internal rate of return above 150%.
- The C16 well, completed in July, averaged about 360 gross barrels of oil per day in the quarter. Its expected payout is also 10 months, with an estimated internal rate of return above 150%.
- Bairoil costs and injections: Lease operating expenses at Bairoil fell by $3.0 million from the second quarter and by $5.2 million from the third quarter of 2025. Average CO₂ injections were 58 million cubic feet per day, about 80% above the minimum contracted amount.
- Amplify also posted a November 2026 investor presentation on its investor-relations website.
Plain-English implications
The Beta royalty reduction means Amplify retains a larger share of revenue from production there, beginning November 1. The repurchases reduced the share count by about 4% through November 4 and used approximately $6.9 million.