Amplify Energy Corp. (NYSE:AMPY) Q4 2022 Earnings Conference Call March 10, 2023 11:00 AM ET

Company Participants

Eric Willis - Senior Vice President and General Counsel

Martyn Willsher - President and Chief Executive Officer

Operator

Welcome to Amplify Energy’s Fourth Quarter 2022 Investor Conference Call. Amplify’s operating and financial results were released yesterday after market close on March 9, 2023 and are available on Amplify’s website at www.amplifyenergy.com. [Operator Instructions] Today’s call is being recorded. A replay of the call will be accessible until Friday, March 24, by dialing 800-654-1563 and then entering access code 21021351.

I would now like to turn the conference call over to Eric Willis, Senior Vice President and General Counsel of Amplify Energy Corp.

Eric Willis

Good morning and welcome to the Amplify Energy conference call to discuss operating and financial results for the fourth quarter of 2022.

Before we get started, we would like to remind you that some of our remarks may contain forward-looking statements which reflect management’s current views of future events and are subject to various risks, uncertainties, expectations and assumptions. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct and undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this earnings call. .

Please refer to our press release and SEC filings for a list of factors that may cause actual results to differ materially from those in the forward-looking statements made during this call. In addition, the unaudited financial information that will be highlighted here is derived from our internal financial books, records and reports. For additional detailed disclosure, we encourage you to read our Form 10-K that was filed yesterday afternoon. Also, non-GAAP financial measures maybe disclosed during this call. Reconciliations of these measures to comparable GAAP measures maybe found in our earnings release or on our website at www.amplifyenergy.com.

During the call, Martyn Willsher, Amplify’s President and Chief Executive Officer, will provide an update regarding our assets in Southern California, fourth quarter financial and operational highlights and our hedging program and balance sheet. Martyn will conclude our prepared remarks with comments regarding Amplify’s 2023 guidance and strategy and we will then have a question-and-answer session.

Martyn Willsher

Thank you, Eric. Before we get into the quarterly results and our 2023 outlook, I will begin with an update regarding our Southern California assets. I am pleased to announce that we have safely and successfully completed the scheduled repair operations to remove and replace the sections of pipeline damaged by anchor strikes from two shipping vessels in 2021. Upon completion of the repairs, the pipeline also underwent a series of safety tests and inspections, the results of which are being evaluated by federal regulators. We are currently awaiting regulatory approval to restart production and we will update the market when we have additional clarity on timing.