$AMPY
Amplify Energy Corp.

2020 Q2 Form 10-Q Financial Statement

#000156459020036785 Filed on August 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $35.20M $59.53M
YoY Change -40.87% -34.57%
Cost Of Revenue $27.80M $26.30M
YoY Change 5.7% 54.71%
Gross Profit $7.300M $33.20M
YoY Change -78.01% 30.71%
Gross Profit Margin 20.74% 55.77%
Selling, General & Admin $13.60M $18.40M
YoY Change -26.09% 201.64%
% of Gross Profit 186.3% 55.42%
Research & Development $0.00 $0.00
YoY Change
% of Gross Profit 0.0% 0.0%
Depreciation & Amortization $7.623M $12.90M
YoY Change -40.91% -21.82%
% of Gross Profit 104.42% 38.86%
Operating Expenses $22.80M $32.70M
YoY Change -30.28% 43.42%
Operating Profit -$34.63M $23.53M
YoY Change -247.18% -229.08%
Interest Expense -$6.209M $18.60M
YoY Change -133.38% -1530.77%
% of Operating Profit 79.06%
Other Income/Expense, Net -$6.459M -$4.422M
YoY Change 46.07%
Pretax Income -$41.30M $18.60M
YoY Change -322.04% -1340.0%
Income Tax $85.00K $0.00
% Of Pretax Income 0.0%
Net Earnings -$41.34M $18.64M
YoY Change -321.75% -173.74%
Net Earnings / Revenue -117.43% 31.31%
Basic Earnings Per Share -$1.10 $0.80
Diluted Earnings Per Share -$1.10 $0.80
COMMON SHARES
Basic Shares Outstanding 37.60M 22.27M
Diluted Shares Outstanding 37.60M 22.27M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.20M $4.800M
YoY Change 175.0% -23.81%
Cash & Equivalents $13.20M $4.800M
Short-Term Investments
Other Short-Term Assets $44.40M $3.600M
YoY Change 1133.33% 44.0%
Inventory
Prepaid Expenses
Receivables $27.10M
Other Receivables $0.00
Total Short-Term Assets $84.80M $22.70M
YoY Change 273.57% -48.29%
LONG-TERM ASSETS
Property, Plant & Equipment $352.3M $508.4M
YoY Change -30.7% -8.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.60M $5.500M
YoY Change 201.82% 3.77%
Total Long-Term Assets $368.9M $513.9M
YoY Change -28.22% -8.02%
TOTAL ASSETS
Total Short-Term Assets $84.80M $22.70M
Total Long-Term Assets $368.9M $513.9M
Total Assets $453.7M $536.6M
YoY Change -15.45% -10.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.600M $4.100M
YoY Change 36.59% -78.65%
Accrued Expenses $17.84M $21.80M
YoY Change -18.18% -45.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00M
YoY Change
Total Short-Term Liabilities $66.79M $26.20M
YoY Change 154.94% -63.15%
LONG-TERM LIABILITIES
Long-Term Debt $265.5M $60.60M
YoY Change 338.15% 115.66%
Other Long-Term Liabilities $3.367M $12.30M
YoY Change -72.63% 7.89%
Total Long-Term Liabilities $268.9M $72.90M
YoY Change 268.84% 84.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.79M $26.20M
Total Long-Term Liabilities $268.9M $72.90M
Total Liabilities $432.4M $99.10M
YoY Change 336.36% -10.4%
SHAREHOLDERS EQUITY
Retained Earnings -$407.5M
YoY Change
Common Stock $209.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.26M $405.1M
YoY Change
Total Liabilities & Shareholders Equity $453.7M $536.6M
YoY Change -15.45% -10.95%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$41.34M $18.64M
YoY Change -321.75% -173.74%
Depreciation, Depletion And Amortization $7.623M $12.90M
YoY Change -40.91% -21.82%
Cash From Operating Activities $29.90M $22.50M
YoY Change 32.89% -17.28%
INVESTING ACTIVITIES
Capital Expenditures -$14.10M -$22.80M
YoY Change -38.16% -32.94%
Acquisitions
YoY Change
Other Investing Activities $0.00 $89.80M
YoY Change -100.0% 63.87%
Cash From Investing Activities -$14.10M $66.90M
YoY Change -121.08% 223.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.500M -95.60M
YoY Change -95.29% 91.2%
NET CHANGE
Cash From Operating Activities 29.90M 22.50M
Cash From Investing Activities -14.10M 66.90M
Cash From Financing Activities -4.500M -95.60M
Net Change In Cash 11.30M -6.200M
YoY Change -282.26% 195.24%
FREE CASH FLOW
Cash From Operating Activities $29.90M $22.50M
Capital Expenditures -$14.10M -$22.80M
Free Cash Flow $44.00M $45.30M
YoY Change -2.87% -25.98%

Facts In Submission

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<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;margin-left:2.27%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the accompanying Unaudited Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Significant estimates include, but are not limited to, oil and natural gas reserves; depreciation, depletion, and amortization of proved oil and natural gas properties; future cash flows from oil and natural gas properties; impairment of long-lived assets; fair value of derivatives; fair value of equity compensation; fair values of assets acquired and liabilities assumed in business combinations and asset retirement obligations. </span></p>
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CY2020Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2020-03-03
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
3800000
CY2020Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2020-03-16
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-41336000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
18641000
us-gaap Profit Loss
ProfitLoss
-408535000
us-gaap Profit Loss
ProfitLoss
-12836000
CY2020Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0
CY2019Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-728000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-41336000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17913000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-408535000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2069000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12836000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37595000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22267000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37582000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22233000
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37595000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22267000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37582000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22233000
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.10
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.80
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-10.87
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.58
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.10
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.80
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-10.87
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.58
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
891000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
175000
us-gaap Lessee Operating Lease Option To Terminate
LesseeOperatingLeaseOptionToTerminate
leases can be terminated with 30-day prior written notice
ampy Lease Termination Period With Prior Written Notice
LeaseTerminationPeriodWithPriorWrittenNotice
P30D
us-gaap Operating Lease Cost
OperatingLeaseCost
1200000
us-gaap Operating Lease Cost
OperatingLeaseCost
1000000.0
us-gaap Operating Lease Payments
OperatingLeasePayments
877000
us-gaap Operating Lease Payments
OperatingLeasePayments
5096000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3528000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4406000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2205000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1712000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1350000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2720000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3555000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4432000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1161000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1823000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
686000
CY2020Q2 ampy Lessee Operating Lease Liability Payments Due Year Four And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndThereafter
25000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3695000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
140000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3555000
CY2020Q2 ampy Accrued Lease Operating Expense
AccruedLeaseOperatingExpense
8680000
CY2019Q4 ampy Accrued Lease Operating Expense
AccruedLeaseOperatingExpense
11794000
CY2020Q2 ampy Accrued Capital Expenditures
AccruedCapitalExpenditures
1541000
CY2019Q4 ampy Accrued Capital Expenditures
AccruedCapitalExpenditures
5515000
CY2020Q2 ampy Accrued General And Administrative Expenses
AccruedGeneralAndAdministrativeExpenses
3111000
CY2019Q4 ampy Accrued General And Administrative Expenses
AccruedGeneralAndAdministrativeExpenses
3126000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2205000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1712000
CY2020Q2 ampy Accrued Ad Valorem
AccruedAdValorem
1566000
CY2019Q4 ampy Accrued Ad Valorem
AccruedAdValorem
520000
CY2020Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
623000
CY2019Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
623000
CY2020Q2 us-gaap Interest Payable Current
InterestPayableCurrent
30000
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
36000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
81000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
32000
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17837000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
23358000
CY2019Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
0
CY2020Q2 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
0
ampy Commitment Fee Expense
CommitmentFeeExpense
600000
CY2020Q2 ampy Accrued Commitment Fee Expense
AccruedCommitmentFeeExpense
800000
CY2020Q2 ampy Decommissioning Obligations Supported By Surety Bonds
DecommissioningObligationsSupportedBySuretyBonds
161300000
CY2020Q2 ampy Decommissioning Obligations Supported By Cash
DecommissioningObligationsSupportedByCash
300000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13202000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
0
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
325000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13202000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
325000
us-gaap Interest Paid Net
InterestPaidNet
5380000
us-gaap Interest Paid Net
InterestPaidNet
5861000
ampy Cash Paid For Received From Reorganization Items Net
CashPaidForReceivedFromReorganizationItemsNet
351000
ampy Cash Paid For Received From Reorganization Items Net
CashPaidForReceivedFromReorganizationItemsNet
650000
us-gaap Income Taxes Paid
IncomeTaxesPaid
85000
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
ampy Change In Capital Expenditures In Payables And Accrued Liabilities
ChangeInCapitalExpendituresInPayablesAndAccruedLiabilities
-3618000
ampy Change In Capital Expenditures In Payables And Accrued Liabilities
ChangeInCapitalExpendituresInPayablesAndAccruedLiabilities
-5034000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.002
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.004

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