06:48 AM EDT, 07/22/2025 (MT Newswires) -- Amplify Energy ( AMPY ) said Tuesday that it has engaged TenOaks Energy Advisors to explore potential buyers for its assets in East Texas and Oklahoma.

The company said it is looking to reduce debt, lower general and administrative expenses, and focus on its Beta and Bairoil operations.

Amplify said it continues to invest in its 2025 development program at Beta, currently drilling the C-08 well off the Eureka platform with production expected to begin next month.

Additionally, Amplify said Martyn Willsher stepped down as CEO, effective Tuesday, and Dan Furbee, previously COO, has been promoted to CEO.

Amplify shares were up more than 2% in recent Tuesday premarket activity.