Foley Represents Amplify Energy in $23M Sale of Eagle Ford Interests to Murphy Exploration

Foley & Lardner LLP represented Houston-based Amplify Energy Corp. in the $23 million sale of its non-operated working interests in Eagle Ford assets to Murphy Exploration & Production Co., a unit of Murphy Oil Corp.

Amplify Energy’s Eagle Ford properties contained approximately 2.5 million barrels of oil equivalent and included a non-operated position spanning roughly 800 net acres in Karnes County, Texas. The assets, primarily operated by Murphy, also included ongoing participation in multiple well completions.

Amplify Energy plans to use the net proceeds to reduce debt, strengthen its balance sheet, and redirect capital toward high-margin projects in its Beta oilfield.

The Foley team was led by partner Nicholas Peters, of counsel Neal Bakare, and associate Mitch Holliman.