Exhibit 99.1

		News For Immediate Release

Amplify Energy Announces Fourth Quarter and Full Year 2017 Results,

Year-End 2017 Proved Reserves and 2018 Guidance

HOUSTON, March 7, 2018—Amplify Energy Corp. (OTCQX: AMPY) (“Amplify” or the “Company”) announced today its operating and financial results for the fourth quarter and full year 2017, year-end 2017 proved reserves and provided guidance for the first quarter and full year 2018.

Strategic Updates

Key Fourth Quarter Highlights

“This has been another strong quarter for Amplify. Our assets and our employees continue to perform very well as we transition to a more streamlined, growth-oriented E&P company. Throughout 2017 we consistently met or exceeded our guidance metrics by maximizing production, driving down costs and generating significant cash flow which was used to pay down debt and further enhance liquidity,” said Bill Scarff, President and Chief Executive Officer of Amplify. “In 2018, we expect to direct a large portion of our capital budget into horizontal drilling opportunities in our core East Texas asset, and we expect the Company to generate significant

free cash flow throughout the year. We will also continue to work closely with our Board to explore portfolio rationalization for non-core assets, but will only make divestment decisions that are in the best interest of our shareholders. The strong performance and significant cash flow from our assets gives us flexibility to execute strategies that will maximize value.”                

Key Financial Results

Revolving Credit Facility and Liquidity

On December 6, 2017, the Company announced that it had completed its fall redetermination of the revolving credit facility borrowing base and entered into an amendment to its credit agreement. The redetermination resulted in a revised borrowing base of $450 million beginning in November 2017, with scheduled monthly reductions of $2.5 million until the borrowing base reaches $437.5 million in April 2018.

As of March 5, 2018, Amplify had total debt of $357 million under its revolving credit facility, with a current borrowing base of $440 million. Amplify’s liquidity was $98 million as of March 5, 2018, consisting of $17 million of cash on hand and available borrowing capacity of $81 million (including the impact of $2.4 million in outstanding letters of credit). The next regularly scheduled borrowing base redetermination is expected to occur in April 2018.

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Comparison of Fourth Quarter Guidance vs Actual Results

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2017 Year-End Proved Reserve Update

Proved reserves at December 31, 2017 were approximately 990 Bcfe, of which approximately 44% were crude oil, 41% were natural gas and 15% were natural gas liquids. Approximately 71% of proved reserves were classified as proved developed with a total standardized measure of discounted future net cash flows of approximately $768 million.

Proved Reserves Table

Production and Drilling Program Update    

During the fourth quarter of 2017, Amplify increased average daily production by 4% to 184.3 MMcfe/d, in-line with quarterly guidance. This increase was driven primarily by first production from three new horizontal Cotton Valley wells that came online in the third quarter. Prior to year-end 2017, three additional horizontal Cotton Valley wells were drilled in the Joaquin area. Two of those wells were completed in the first quarter of 2018, with the third scheduled for completion in the second quarter 2018.

In 2018, the Company plans to drill an additional seven horizontal wells targeting the Cotton Valley formation, four of which are expected to be online prior to year-end.

The Company also participated in 3.0 gross (0.2 net) non-operated wells brought on-line in the fourth quarter of 2017 in the Eagle Ford Shale and Austin Chalk formations. The average IP30 for these wells was 1,070 Boe/d per well (91% liquids). Amplify expects to participate in 10 gross (0.5 net) new non-operated Eagle Ford shale wells, which will achieve first production by the second quarter of 2018.

Capital Spending Update and Outlook

Amplify’s capital spend for the fourth quarter was approximately $12 million, in-line with quarterly guidance. Fourth quarter capital was allocated 64% in East Texas, 21% in the Eagle Ford and the remainder focused primarily on workover and infrastructure related projects in California, the Rockies and South Texas.

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Based on the Company’s current drilling plans, the Company’s capital spending program for the full year 2018 is expected to be approximately $65 to $80 million. Amplify anticipates spending approximately 80% of this capital in East Texas and 7% in the Eagle Ford, with the remainder focused primarily on infrastructure-related projects in California, the Rockies and South Texas. Details of the 2018 capital spending program are below:

First Quarter and Full Year 2018 Guidance

The following guidance included in this press release is subject to the cautionary statements and limitations described under the “Forward-Looking Statements” caption at the end of this press release. Amplify’s updated 2018 guidance is based on its current expectations regarding capital expenditure levels and on the assumption that market demand and prices for oil and natural gas will continue at levels that allow for economic production of these products.

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A summary of the guidance is presented below:

Hedging Update

Since Amplify’s previous hedge update as of November 3, 2017, the Company has added oil swaps of approximately 1,000 Bbls/d and NGL swaps of approximately 1,300 Bbls/d in 2019. The Company also added approximately 23 MMcf/d of natural gas swaps in 2019. As a percentage of its full year 2018 guidance, the Company’s production is now 56% hedged in 2018 and 22% hedged in 2019. The following table reflects the hedged volumes under Amplify’s commodity derivative contracts and the average fixed or floor prices at which production is hedged for January 2018 through December 2019, as of March 7, 2018.

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Amplify posted an updated hedge presentation containing additional information on its website, www.amplifyenergy.com, under the Investor Relations section.

Annual Report on Form 10-K

Amplify’s financial statements and related footnotes will be available in its Annual Report on Form 10-K for the year ended December 31, 2017, which Amplify expects to file with the Securities and Exchange Commission on or before March 16, 2018.

Conference Call

Amplify will host an investor teleconference today at 10:00 a.m. Central Time to discuss these operating and financial results. Interested parties may join the webcast by visiting Amplify’s website, www.amplifyenergy.com, and clicking on the webcast link or by dialing (833) 883-4379 at least 15 minutes before the call begins and providing the Conference ID: 2084357. The webcast and a telephonic replay will be available for fourteen days following the call and may be accessed by visiting Amplify’s website, www.amplifyenergy.com, or by dialing (855) 859-2056 and providing the Conference ID: 2084357.

About Amplify Energy

Amplify Energy Corp. was formed in May 2017 as the reorganized successor to Memorial Production Partners LP. Amplify is headquartered in Houston, Texas and is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. The Company’s operations are focused in East Texas / North Louisiana, the Rockies, offshore California and South Texas. For more information, visit www.amplifyenergy.com.

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Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Amplify expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “will,” “would,” “should,” “could,” “expect,” “anticipate,” “plan,” “project,” “intend,” “estimate,” “believe,” “target,” “continue,” “potential,” the negative of such terms or other comparable terminology are intended to identify forward-looking statements. Amplify believes that these statements are based on reasonable assumptions, but such assumptions may prove to be inaccurate. Such statements are also subject to a number of risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Amplify, which may cause Amplify’s actual results to differ materially from those implied or expressed by the forward-looking statements. Please read the Company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its Annual Report on Form 10-K, and if applicable, its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and other public filings and press releases for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. All forward-looking statements speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Amplify undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

Use of Non-GAAP Financial Measures

This press release and accompanying schedules include the non-GAAP financial measures of Adjusted EBITDA and Free Cash Flow. The accompanying schedules provide a reconciliation of these non-GAAP financial measures to their most directly comparable financial measure calculated and presented in accordance with GAAP. Amplify’s non-GAAP financial measures should not be considered as alternatives to GAAP measures such as net income, operating income, net cash flows provided by operating activities or any other measure of financial performance calculated and presented in accordance with GAAP. Amplify’s non-GAAP financial measures may not be comparable to similarly titled measures of other companies because they may not calculate such measures in the same manner as Amplify does.

Adjusted EBITDA. Amplify defines Adjusted EBITDA as net income or loss, plus interest expense; income tax expense; depreciation, depletion and amortization; impairment of goodwill and long-lived assets; accretion of asset retirement obligations; losses on commodity derivative instruments; cash settlements received on expired commodity derivative instruments; losses on sale of assets; unit-based compensation expenses; exploration costs; acquisition and divestiture related expenses; amortization of gain associated with terminated commodity derivatives, bad debt expense; and other non-routine items, less interest income; gain on extinguishment of debt; income tax benefit; gains on commodity derivative instruments; cash settlements paid on expired commodity derivative instruments; gains on sale of assets and other, net; and other non-routine items. Adjusted EBITDA is commonly used as a supplemental financial measure by management and external users of Amplify’s financial statements, such as investors, research analysts and rating agencies, to assess: (1) its operating performance as compared to other companies in Amplify’s industry without regard to financing methods, capital structures or historical cost basis; (2) the ability of its assets to generate cash sufficient to pay interest and support Amplify’s indebtedness; and (3) the viability of projects and the overall rates of return on

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alternative investment opportunities. Since Adjusted EBITDA excludes some, but not all, items that affect net income or loss and because these measures may vary among other companies, the Adjusted EBITDA data presented in this press release may not be comparable to similarly titled measures of other companies. The GAAP measure most directly comparable to Adjusted EBITDA is net cash provided by operating activities.

Free Cash Flow. Amplify defines Free Cash Flow as Adjusted EBITDA, less cash income taxes; cash interest expense; and total capital expenditures. Free cash flow is an important non-GAAP financial measure for Amplify’s investors since it serves as an indicator of the Company’s success in providing a cash return on investment. The GAAP measure most directly comparable to distributable cash flow is net cash provided by operating activities.

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Selected Operating and Financial Data (Tables) –

Amplify Energy Corp.

Selected Financial Data - Unaudited

Statements of Operations Data

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Selected Financial Data – Unaudited

Operating Statistics

Selected Financial Data - Unaudited

Balance Sheet Data

Selected Financial Data - Unaudited

Statements of Cash Flows Data

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Selected Operating and Financial Data (Tables)

Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures

Adjusted EBITDA and Free Cash Flow

Selected Operating and Financial Data (Tables)

Reconciliation of Unaudited GAAP Financial Measures to Non-GAAP Financial Measures

Adjusted EBITDA and Free Cash Flow

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Contacts

Amplify Energy Corp.

Bobby Stillwell – Chief Financial Officer

(713) 588-8347

bobby.stillwell@amplifyenergy.com

Martyn Willsher – Treasurer

(713) 588-8346

martyn.willsher@amplifyenergy.com

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