Amplify Energy

1 serious warning sign in Amplify Energy’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 9 Mar 2026, plus the 10-Q filed 10 Aug 2026 and 3 later 8-Ks.

• Weak checks on its own accounts

  Serious

  The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

  “Because of this material weakness, our disclosure controls and procedures were not effective as of June 30, 2026.”

  Show the full paragraph

  As required by Rules 13a-15(b) and 15d-15(b) of the Exchange Act, we have evaluated, under the supervision and with the participation of our management, including the principal executive officer and principal financial officer of the Company, the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) as of the end of the period covered by this quarterly report. Our disclosure controls and procedures are designed to provide reasonable assurance that the information required to be disclosed by us in reports that we file under the Exchange Act is accumulated and communicated to our management, including the principal executive officer and principal financial officer of the Company, as appropriate, to allow timely decisions regarding required disclosure, and is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC. As previously disclosed in Item 9A of our Annual Report on Form 10‑K for the year ended December 31, 2025, management identified a material weakness in internal control over financial reporting related to the Company’s lack of appropriate control processes and activities to sufficiently mitigate for changes in personnel with the necessary technical and accounting knowledge, experience, and training. Because of this material weakness, our disclosure controls and procedures were not effective as of June 30, 2026.

  From the 10-Q filed 10 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

• Changed auditor

  Worth knowing

  The company changed its auditor (the firm that checks its books) in the last two years.

  “At the conclusion of this process, on January 12, 2026, the Audit Committee approved the dismissal of Deloitte & Touche LLP (“Deloitte”), who is currently serving as the Company’s independent auditors, upon completion of their audit”

  From an 8-K filed 15 January 2026: Change of auditor. Read it in the filing

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

• The availability of the Section 45Q Credit, and associated reductions in our CO2 payments, require ongoing compliance by both us and our…

  Could happen

  The availability of the Section 45Q Credit, and associated reductions in our CO2 payments, require ongoing compliance by both us and our supplier with an evolving legal and regulatory regime. If Congress revises the Section 45Q Credit, including with retroactive effect, we, or our CO2 supplier may be unable to realize the Section 45Q Credit benefits. Even if Congress does not revise the Section 45Q Credit, it is possible that we are unable to comply with the existing or modified regulatory regimes. In both instances, we will incur higher CO2 costs, which will negatively impact our economics.

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• While we have negotiated our CO2 purchase contracts consistent with the Section 45Q Credit requirements and are undertaking our EOR…

  Could happen

  While we have negotiated our CO2 purchase contracts consistent with the Section 45Q Credit requirements and are undertaking our EOR activities in a manner that we believe enables our CO2 supplier to be eligible for the Section 45Q Credit (and corresponding reduced CO2 pricing), there can be no assurances that the IRS will agree with our positions. Any successful challenge by the IRS would reduce or eliminate the Section 45Q Credit and associated cost savings from our reduced CO2 pricing.

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• We may be subject to data protection, privacy, cybersecurity and/or other information security laws and regulations in the jurisdictions in…

  Could happen

  We may be subject to data protection, privacy, cybersecurity and/or other information security laws and regulations in the jurisdictions in which they do business (collectively, “Privacy Laws”). Compliance with the applicable Privacy Laws may require adhering to stringent legal and operational requirements, which could increase compliance costs for us and require the dedication of additional time and resources to compliance for such entities which may increase over time. A failure to comply with such Privacy Laws could result in fines, sanctions or other penalties, which could materially and adversely affect the results of operations and overall business, as well as our reputation. Our operations will be impacted by a growing movement to adopt comprehensive privacy and data protection laws, where such laws generally focus on privacy as an individual right.

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• While the material weakness did not result in any identified misstatements to the financial statements and there were no changes to…

  Could happen

  While the material weakness did not result in any identified misstatements to the financial statements and there were no changes to previously released financial results, effective internal controls and disclosure controls and procedures are necessary for us to provide reliable financial reports and disclosures to shareholders, to prevent fraud and to operate successfully as a public company. For additional information, see “Item 9A. Controls and Procedures.” While we intend to remediate the material weakness in 2026, there can be no assurance that we will be able to successfully complete the remediation within the contemplated timeline.

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• Certain carbon dioxide purchase agreements are priced based on our counterparty’s ability to claim federal income tax credits which depend,…

  Could happen

  Certain carbon dioxide purchase agreements are priced based on our counterparty’s ability to claim federal income tax credits which depend, in part, on our compliance with the requirements of such tax credits. If we are unable to comply with those requirements, or if Congress enacts new legislation, we will face increased payment obligations for carbon dioxide, which will negatively impact our economics.

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