Amplify Energy Announces Closing of Merger with Midstates Petroleum

HOUSTON, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Amplify Energy Corp. ("Amplify") and Midstates Petroleum Company, Inc. (NYSE: MPO) ("Midstates") announced today that the previously announced all-stock, merger-of-equals transaction has closed. Under the terms of the merger, Amplify stockholders will receive 0.933 shares of newly issued Midstates common stock for each Amplify share of common stock. Immediately following the effective time of the merger, current Midstates and Amplify stockholders, collectively, are expected to each own approximately 50% of the outstanding common stock of the combined company.

The combined company will retain the name Amplify Energy Corp., trade on the NYSE under the ticker symbol "AMPY" and continue to be headquartered in Houston. Amplify's President and Chief Executive Officer, Ken Mariani, will continue to lead the combined company, and the new Board of Directors will include members who currently serve on the Amplify and Midstates Boards. A detailed investor presentation which further highlights the value proposition of the combined company can be found at www.amplifyenergy.com.

About Amplify Energy

Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas properties. Amplify's operations are focused in the Rockies, offshore California, Oklahoma, East Texas / North Louisiana and South Texas. For more information, visit www.amplifyenergy.com.

Contacts

Martyn Willsher - Chief Financial Officer
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Eric Chang - Treasurer
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