<SEC-DOCUMENT>0001193125-21-261365.txt : 20211007
<SEC-HEADER>0001193125-21-261365.hdr.sgml : 20211007
<ACCEPTANCE-DATETIME>20210831090055
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ACCESSION NUMBER:		0001193125-21-261365
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210831

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Amplify Energy Corp.
		CENTRAL INDEX KEY:			0001533924
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				821326219
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		500 DALLAS STREET
		STREET 2:		SUITE 1700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002
		BUSINESS PHONE:		713-588-8369

	MAIL ADDRESS:	
		STREET 1:		500 DALLAS STREET
		STREET 2:		SUITE 1700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Midstates Petroleum Company, Inc.
		DATE OF NAME CHANGE:	20111031
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Amplify Energy Corp. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">500 Dallas Street, Suite 1700 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Houston, TX 77002 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">August 31, 2021
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>VIA EDGAR </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="11%" VALIGN="top" ALIGN="left">Attention:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">John Hodgin </P></TD></TR></TABLE>
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<TD WIDTH="11%" VALIGN="top" ALIGN="left">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Karl Hiller </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of
Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Energy&nbsp;&amp; Transportation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Amplify Energy Corp. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Fiscal Year ended December&nbsp;31, 2020 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:Times New Roman"><B>Filed March&nbsp;11, 2021 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:Times New Roman"><B><FONT STYLE="white-space:nowrap">File&nbsp;No.&nbsp;001-35512</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This letter sets forth
the response of Amplify Energy Corp. (the &#147;<B><I>Company</I></B>&#148;) to the comments of the staff of the Division of Corporate Finance (the &#147;<B><I>Staff</I></B>&#148;) of the Securities and Exchange Commission set forth in your letter
dated August&nbsp;17, 2021, with respect to the above referenced Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended December&nbsp;31, 2020 (the &#147;<B><I><FONT STYLE="white-space:nowrap">10-K</FONT></I></B>&#148;).
Capitalized terms used but not otherwise defined herein shall have the meanings ascribed thereto in the <FONT STYLE="white-space:nowrap">10-K.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Concurrent with the submission of this letter, we are submitting a supplemental letter providing additional information (the
&#147;<B><I>Supplemental Letter</I></B>&#148;) pursuant to Rule 418(b) under the Securities Act of 1933 and <FONT STYLE="white-space:nowrap">Rule&nbsp;12b-4&nbsp;under</FONT> the Securities Exchange Act of 1934 in response to the Staff&#146;s
comments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Set forth below is the Company&#146;s response to the Staff&#146;s comments. For the Staff&#146;s convenience, we have
incorporated your comments into this response letter in italics. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Fiscal Year ended
December&nbsp;31, 2020 </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Business </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Our Oil and
Natural Gas Data </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Development of Proved Undeveloped Reserves, page 15 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Staff&#146;s comment: </I></B><I>Please expand the discussion of the changes in the net quantities of your
proved undeveloped reserves to clearly identify the source of each change, e.g. revisions, improved recovery, extensions and discoveries, transfers to proved developed, sales and acquisitions, and to include an explanation relating to each of the
items you identify. If two or </I> </P>
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<I>more unrelated factors are combined to arrive at the overall change for an item, you should separately identify and quantify each material factor so that the change in net reserve quantities
between periods is fully explained.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>The disclosure of revisions in previous estimates of your proved undeveloped reserves in
particular should identify the changes associated with individual factors, such as changes caused by commodity prices, costs, royalty adjustments, well performance, unsuccessful and/or uneconomic proved undeveloped locations, or the removal of
proved undeveloped locations due to changes in a previously adopted development plan. You may refer to Item 1203(b) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> if you require further clarification or guidance. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Please similarly revise your disclosures of changes in the net quantities of total proved reserves on page
<FONT STYLE="white-space:nowrap">F-41,</FONT> to address for each period the changes depicted in each line item in the reconciliation, other than production, to comply with FASB ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">932-235-50-5.</FONT></FONT></FONT> </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment, and the Company confirms that in future filings it will expand its disclosure
to quantify each of the individual material factors underlying changes in the Company&#146;s proved undeveloped reserves. The Company also respectfully advises the Staff that it did not discuss in detail each of the factors identified below beyond
lower commodity pricing because the impacts of revisions that were caused by events other than lower commodity pricing were immaterial to the Company&#146;s proved undeveloped reserves. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Below is the Company&#146;s proposed disclosure using 2020 for illustrative purposes, which has been marked to show changes from the
Company&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> disclosure for the year ended December&nbsp;31, 2020 to facilitate the Staff&#146;s review. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Business </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Our Oil and Natural Gas Data </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Development of Proved Undeveloped Reserves, page 15 </U></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Development of Proved Undeveloped Reserves </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2020, we had 17.2 MMBoe of proved undeveloped reserves comprised of 11.1 MMBbls of oil, 21.9 Bcfe of natural gas and
2.5 MMBbls of NGLs. None of our proved undeveloped reserves (&#147;PUDs&#148;) as of December&nbsp;31, 2020 are scheduled to be developed on a date more than five years from the date the reserves were initially booked as PUDs. PUDs will be converted
from undeveloped to developed as the applicable wells begin production. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff4338"><STRIKE>Changes in PUDs that occurred during 2020 were due to:</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT COLOR="#ff4338"><STRIKE>&#149;</STRIKE></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT COLOR="#ff4338"><STRIKE>Reserve adds of 0.2 MMBoe;</STRIKE></FONT> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT COLOR="#ff4338"><STRIKE>&#149;</STRIKE></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT COLOR="#ff4338"><STRIKE>Reserve drops including price revisions of 15.8 MMBoe; and</STRIKE></FONT>
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT COLOR="#ff4338"><STRIKE>&#149;</STRIKE></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT COLOR="#ff4338"><STRIKE>Performance revisions including royalty relief of 0.5 MMBoe.</STRIKE></FONT>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><FONT STYLE="font-family:Times New Roman" COLOR="#002c5f"><U>For the year-ended
December&nbsp;31, 2020, total proved undeveloped reserves decreased 15.2 MMBoe, net, which was comprised of a decrease of 15.8 MMBoe due to changes in commodity pricing, 0.3 MMBoe of technical revisions and 0.1 MMBoe related to transfers to proved
developed properties on certain <FONT STYLE="white-space:nowrap">non-operated</FONT> properties in the Eagle Ford. These downward revisions were partially offset by a positive revision of 0.8 MMBoe related to Special Royalty Relief for our offshore
Southern California assets. The Company also had 0.2 MMBoe of extensions and discoveries related to wells drilled but not completed in the Eagle Ford. Additionally, the impacts of the <FONT STYLE="white-space:nowrap">COVID-19</FONT> pandemic are
disclosed throughout the Company&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2020, which included negative effects on commodity prices and in turn impacted the Company&#146;s
determination of economic reserves.</U></FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Approximately 0.4% (0.1 MMBoe) of our PUDs recorded as of December&nbsp;31, 2019 were
developed during the twelve months ended December&nbsp;31, 2020. Total costs incurred to develop these PUDs were approximately $0.7&nbsp;million, all of which was incurred in fiscal year 2020. In total, we incurred total capital expenditures of
approximately $3.3&nbsp;million during fiscal year 2020 developing PUDs, which includes $2.6&nbsp;million associated with PUDs to be completed in 2021. Based on our current expectations of our cash flows, we believe that we can fund the drilling of
our current PUD inventory and our expansions in the next five years from our cash flow from operations and borrowings under our Revolving Credit Facility. For a more detailed discussion of our liquidity position, see &#147;Item 7. Management&#146;s
Discussion and Analysis of Financial Condition and Results of Operations &#151; Liquidity and Capital Resources.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Notes to Consolidated Financial
Statements </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Note 18. Supplemental Oil and Gas Information (Unaudited) </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Oil and Natural Gas Reserves, page <FONT STYLE="white-space:nowrap">F-41</FONT> </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Noteworthy amounts included in the categories of proved reserve changes in the above tables include: </P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The 49.2 MMBoe reduction in reserves for the year ended December&nbsp;31, 2020 is primarily due to a 50.1 MMBoe
downward pricing revision <FONT COLOR="#002c5f"><U><B>as a result of changes in commodity pricing partially offset by a 4.5 MMBoe upward revision due to lower maintenance costs, a 2.4 MMBoe upward revision due to Special Royalty Relief on our
offshore Southern California assets and a 3.7 MMBoe upward technical revision. Additionally, the Company added 0.46 MMBoe during the year ended December&nbsp;31, 2020 due to extensions and discoveries.</B></U></FONT>
<FONT COLOR="#ff4338"><STRIKE>offset by 10.7 MMBoe upward revision primarily due to lower maintenance costs and Special Royalty Relief on our offshore Southern California assets. We added 0.46 MMBoe during the year ended December&nbsp;31, 2020 due
to extensions and discoveries.</STRIKE></FONT> </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Staff&#146;s comment:</I></B><I> We note
your disclosure indicating that none of the 17.2 MMBoe in proved undeveloped reserves as of December</I><I></I><I>&nbsp;31, 2020 are scheduled to be developed on a date more than five years from the date these reserves were initially disclosed.
However, you also indicate that during the twelve months ending December</I><I></I><I>&nbsp;31, 2020, you converted approximately 0.1 MMBoe or approximately 0.4% of the proved undeveloped reserves as of December</I><I></I><I>&nbsp;31, 2019. That
rate of conversion suggests that you may not be able to develop your proved undeveloped reserves within five years of initial disclosure.</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Please provide us with your development schedule, indicating for each future annual
period, the number of gross wells to be drilled, the associated net quantities of reserves, and estimated capital expenditures necessary to convert such reserves to developed reserves, to include all of the proved undeveloped reserves disclosed as
of December&nbsp;31, 2020, and describe any change made or expected to be made in the schedule that would deviate from the definition set forth in Rule <FONT STYLE="white-space:nowrap">4-10(a)(31)(ii)</FONT> of Regulation <FONT
STYLE="white-space:nowrap">S-X.</FONT> </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and has included additional materials responsive to the Staff&#146;s comment in
the Supplemental Letter submitted contemporaneously with this letter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company also respectfully advises the Staff that the
Company&#146;s low PUD conversion rate during 2020 is primarily attributable to the impact of the <FONT STYLE="white-space:nowrap">COVID-19</FONT> pandemic on the Company&#146;s and its working interest partners&#146; capital development plans. The
Company projects the PUD conversion rate will increase in 2021 and in subsequent years. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Staff&#146;s
comment: </I></B><I>Tell us the extent to which all of the undeveloped locations in the development schedule requested in the preceding comment are part of a development plan that is reviewed annually and adopted by management, including approval by
the Board, if such approval is required. Refer to Rule <FONT STYLE="white-space:nowrap">4-10(a)(31)(ii)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> and the Question 131.04 in the Compliance and Disclosure Interpretations
(C&amp;DIs).</I> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and advises the Staff that all of the undeveloped locations in the development
schedule requested in the Staff&#146;s preceding comment are part of a development plan that is reviewed annually and is adopted by the Company&#146;s management and is approved by the Company&#146;s board of directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Undeveloped Acreage, page 17 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Staff&#146;s comment: </I></B><I>You disclose that 3,849 net undeveloped acres or approximately 60% of the
total 6,456 net undeveloped acres in Oklahoma are subject to lease expiration by the end of 2021. Please tell us the extent to which you have assigned any proved undeveloped reserves to locations which are currently scheduled to be drilled after
lease expiration.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>If there are material quantities of net proved undeveloped reserves relating to such locations, expand the
disclosure here or in an appropriate section elsewhere in your filing to describe the uncertainty in reasonable detail, including the steps and related costs that would be necessary to extend the time to the expiration of such leases, considering
the guidance in Rule <FONT STYLE="white-space:nowrap">4-10(a)(26)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> and FASB ASC
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">932-235-50-10.</FONT></FONT></FONT> </I></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and advises the Staff that the Company has not assigned any proved undeveloped
reserves to locations on acreage with lease expirations over the next five year development period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Exhibits and Financial Statement Schedules
</U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Exhibit Number 99.1 Report of Cawley, Gillespie and Associates, Inc., page 68</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Staff&#146;s comment: </I></B><I>The reserves report includes among its results of the evaluation line items
entitled Miscellaneous Expenses 1, Miscellaneous Expenses 2, Other Deductions, and Investments. Please tell us the types of costs represented by each line item shown in the results of the evaluation table. You should also obtain and file a revised
reserves report that describes this information as part of the primary economic assumptions that are required to be disclosed pursuant to Item 1202(a)(8)(v) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT></I> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company respectfully acknowledges the Staff&#146;s comment and advises the Staff that the line items entitled Miscellaneous Expenses 1, Miscellaneous Expenses 2 and Other Deductions are all related to standard operating expenses and will be combined
as a line item entitled Total Operating Expenses in future disclosures. Miscellaneous Expenses 1 includes items such as maintenance, well service, tubing and pump repairs. Miscellaneous Expenses 2 includes expenses primarily related to fees charged
by third-party operators for <FONT STYLE="white-space:nowrap">non-operated</FONT> wells. Other Deductions includes items such as compression, gathering, transportation, water disposal and all other costs not included in Operating Expense,
Miscellaneous Expenses 1 or Miscellaneous Expenses 2. The Investment line item includes expenses primarily related to future drilling costs and workover, <FONT STYLE="white-space:nowrap">re-completion,</FONT> plugging and abandonment costs. The
Company confirms that in future filings it will expand the Total Operating Expenses and Investments line items as discussed above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Financial Statement
</U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Note 18 - Supplemental Oil and Gas Information (Unaudited), page <FONT STYLE="white-space:nowrap">F-39</FONT> </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Staff&#146;s comment: </I></B><I>We note your disclosure on page <FONT STYLE="white-space:nowrap">F-41</FONT>
indicating that future costs used in calculating the standardized measure as of December</I><I></I><I>&nbsp;31, 2020 include the abandonment costs for your onshore and offshore properties.</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Please tell us if such abandonment costs include all of the costs relating to your properties located in federal waters offshore Southern
California that are expected to be incurred in connection with the removal of all fixed drilling equipment, production facilities and the related offshore platforms and pipelines, and the plugging and abandonment of all wells, active and inactive,
and all reclamation and restoration associated with abandonment. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Please submit a schedule quantifying the abandonment costs
associated with each of these activities that are reflected in your standardized measure and if applicable any incremental costs that have been excluded in calculating your standardized measure. If any such costs have been excluded, please explain
your rationale and describe any disclosures that you would propose, considering the guidance in FASB ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">932-235-50-36.</FONT></FONT></FONT> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and advises the Staff that all abandonment costs associated with our properties
located in federal waters offshore Southern California have been included and are reflected in our standardized measure as of December&nbsp;31, 2020. The Company has also included additional materials responsive to the Staff&#146;s comment in the
Supplemental Letter submitted contemporaneously with this letter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">***** </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We respectfully request the Staff&#146;s assistance in completing the review of this letter as soon as possible. Please contact Matthew Pacey
of Kirkland&nbsp;&amp; Ellis LLP at (713) <FONT STYLE="white-space:nowrap">836-3786</FONT> or Eric Willis of Amplify Energy Corp. at (832) <FONT STYLE="white-space:nowrap">219-9026</FONT> with any questions or further comments regarding the
responses to the Staff&#146;s comments. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">Sincerely,</TD></TR>
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<TD HEIGHT="16" COLSPAN="3"></TD></TR>
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<TD VALIGN="top" COLSPAN="3">AMPLIFY ENERGY CORP.</TD></TR>
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<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jason McGlynn</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Jason McGlynn</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Senior Vice President and Chief Financial Officer</TD></TR>
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