Exhibit 10.1

 

 

 

 

LOGO [g499242dsp5.jpg]

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

dated as of November 30, 2017

among

Amplify Energy Operating LLC,

as Borrower,

The Guarantors Party Hereto,

Wells Fargo Bank, National Association,

as Administrative Agent,

and

The Lenders Party Hereto

 

 

 

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FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

This FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “First
Amendment”), dated as of November 30, 2017 (the “First Amendment Effective
Date”), is among AMPLIFY ENERGY OPERATING LLC, a limited liability company
formed under the laws of the State of Delaware (the “Borrower”); AMPLIFY
ACQUISITIONCO INC., a corporation formed under the laws of the State of Delaware
(the “Parent”); each of the other undersigned guarantors (together with the
Borrower and the Parent, collectively, the “Loan Parties”); each of the Lenders
that is a signatory hereto; and WELLS FARGO BANK, NATIONAL ASSOCIATION, as
administrative agent for the Lenders (in such capacity, together with its
successors, the “Administrative Agent”).

Recitals

A. The Borrower, the Parent, the Administrative Agent and the Lenders are
parties to that certain Amended and Restated Credit Agreement dated as of May 4,
2017 (as amended, restated, amended and restated, modified or otherwise
supplemented from time to time prior to the date hereof, the “Credit
Agreement”), pursuant to which the Lenders have, subject to the terms and
conditions set forth therein, made certain credit available to and on behalf of
the Borrower.

B. The Borrower, the Parent, the Administrative Agent and the Lenders desire to
amend the Credit Agreement to, among other things, (i) modify certain hedging
requirements under the Credit Agreement, (ii) reflect the reduction of the
Borrowing Base from $475,000,000 to $450,000,000, to be effective as of the
First Amendment Effective Date until otherwise redetermined pursuant to the
Credit Agreement, and (iii) remove the mandatory prepayments in respect of
Excess Cash.

C. NOW, THEREFORE, in consideration of the premises and the mutual covenants
herein contained, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

Section 1. Defined Terms. Each capitalized term which is defined in the Credit
Agreement, but which is not defined in this First Amendment, shall have the
meaning ascribed such term in the Credit Agreement, as amended hereby. Unless
otherwise indicated, all section and exhibit references in this First Amendment
refer to the respective sections and exhibits in the Credit Agreement.

Section 2. Amendments as of the First Amendment Effective Date. In reliance on
the representations, warranties, covenants and agreements contained in this
First Amendment, and subject to the satisfaction of the conditions precedent set
forth in Section 4 hereof, the Credit Agreement shall be amended effective as of
the First Amendment Effective Date in the manner provided in this Section 2.

2.1 Additional Definitions. Section 1.02 of the Credit Agreement is hereby
amended to add thereto in alphabetical order the following definitions which
shall read in full as follows:

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“ICE” has the meaning assigned to such term in the definition of “LIBO Rate”.

“LIBOR Market Index”, when used in reference to any Loan or Borrowing, means
that such Loan is, or the Loans comprising such Borrowing are, bearing interest
at a rate determined by reference to the LIBOR Market Index Rate.

“LIBOR Market Index Rate” means, for any day with respect to any LIBOR Market
Index Loan, a rate per annum equal to the greater of: (a) 0% and (b) the rate
determined by reference to the ICE (or any other Person that takes over the
administration of such rate) appearing on the relevant Reuters screen page (or
on any successor or substitute page of such service, or any successor to or
substitute for such service, providing rate quotations comparable to those
currently provided on such page of such service, as determined by the
Administrative Agent from time to time for purposes of providing quotations of
interest rates applicable to dollar deposits in the London interbank market) at
approximately 11:00 a.m., London time on such day (or if such day is not a
Business Day, then the immediately preceding Business Day), as the rate for
dollar deposits with a one-month maturity. In the event that such rate is not
available at such time for any reason, then the “LIBOR Market Index Rate” with
respect to such LIBOR Market Index Loan shall be the rate (rounded upwards, if
necessary, to the next 1/100 of 1%) at which dollar deposits of an amount
comparable to such Loan and for a one-month maturity are offered by the
principal London office of the Administrative Agent in immediately available
funds in the London interbank market at approximately 11:00 a.m. on such day (or
if such day is not a Business Day, then the immediately preceding Business Day).

2.2 Amended Definitions. The definitions of “Applicable Margin”, “Interest
Payment Date”, “Permitted Unsecured Debt” and “Type” contained in Section 1.02
of the Credit Agreement are hereby amended and restated in their entirety to
read in full as follows:

“Applicable Margin” means, for any day, with respect to any ABR Loan, LIBOR
Market Index Loan or Eurodollar Loan, or with respect to the Commitment Fee
Rate, as the case may be, the rate per annum set forth in the Total Commitments
Utilization Grid below based upon the Total Commitments Utilization Percentage
then in effect:

 

Total Commitments Utilization Grid  

Total Commitments Utilization Percentage

   £ 25%       

£

> 25%

 50%

 

 

    

£

> 50%

75%

 

 

    

£

> 75%

90%

 

 

     > 90%  

Eurodollar Loans

     3.00%        3.25%        3.50%        3.75%        4.00%  

LIBOR Market Index Loans

     3.00%        3.25%        3.50%        3.75%        4.00%  

ABR Loans

     2.00%        2.25%        2.50%        2.75%        3.00%  

Commitment Fee Rate

     0.50%        0.50%        0.50%        0.50%        0.50%  

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Each change in the Applicable Margin shall apply during the period commencing on
the effective date of such change and ending on the date immediately preceding
the effective date of the next such change; provided that if at any time the
Borrower fails to deliver a Reserve Report pursuant to Section 8.12 and such
failure continues for more than 10 Business Days from the date when such Reserve
Report is due, then the “Applicable Margin” means the rate per annum set forth
on the grid when the Total Commitments Utilization Percentage is at its highest
level until such Reserve Report is delivered.

“Interest Payment Date” means (a) with respect to any ABR Loan and any LIBOR
Market Index Rate Loan, the last day of each March, June, September and
December, and (b) with respect to any Eurodollar Loan, the last day of the
Interest Period applicable to the Borrowing of which such Loan is a part and, in
the case of a Eurodollar Borrowing with an Interest Period of more than three
months’ duration, each day prior to the last day of such Interest Period that
occurs at intervals of three months’ duration after the first day of such
Interest Period.

“Permitted Unsecured Debt” means unsecured Debt incurred by the Borrower or the
Parent; provided that:

(a) such Debt shall be in an aggregate principal amount not to exceed
$80,000,000 (provided that the amount of any paid in kind interest added to the
principal amount of such Debt following its issuance shall not count towards the
maximum aggregate principal amount set forth in this clause (a));

(b) subject to Section 9.04(b)(iii), such Debt shall bear interest (excluding
default interest) payable in cash at a rate no greater than 3% per annum;

(c) such Debt shall bear interest (excluding default interest) payable in kind,
together with interest payable in cash, at a rate no greater than the weighted
average interest rate applicable to the Loans at the time of incurrence of such
Debt;

(d) such Debt shall not mature sooner than the date which is 180 days following
the Maturity Date at the time of the incurrence of such Debt;

(e) such Debt shall not provide for or otherwise require any scheduled payment
of principal, voluntary or mandatory prepayment or other Redemption prior to the
scheduled maturity date of such Debt;

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(f) the Borrower or its Loan Parties have entered into Swap Agreements on terms
consistent with Section 9.18 in respect of commodities (i) with a Lender or an
Affiliate of a Lender and (ii) the notional volumes for which (when aggregated
with other commodity Swap Agreements then in effect other than basis
differential swaps on volumes already hedged pursuant to other Swap Agreements)
are no less than, as of the date of the incurrence of such Debt, 75% of the
reasonably anticipated projected production of Hydrocarbons from Proved
Developed Producing Reserves included in the most recent Reserve Report for each
year during the three-year period following the date of such incurrence for each
of crude oil, natural gas and natural gas liquids, (which, in the case of
natural gas liquids, may be hedged with Swap Agreements for crude oil), each
calculated separately;

(g) such Debt is issued at par with no original issue discount or upfront fees
payable in respect of such Debt; provided that upfront fees may be payable on
the scheduled maturity date of such Debt or upon payment in full of such Debt,
so long as all Indebtedness has been paid in full and the Commitments terminated
prior to any payment of such upfront fees, so long as any such upfront fees are
no greater than the market rates for upfront fees at the time such Debt is
incurred;

(h) immediately after giving effect to the incurrence of such Debt and the
application of the proceeds thereof, no Default or Event of Default shall exist;
and

(i) such Debt shall be subject to a Subordination Agreement.

2.3 “Type”, when used in reference to any Loan or Borrowing, refers to whether
the rate of interest on such Loan, or on the Loans comprising such Borrowing, is
determined by reference to the Alternate Base Rate, the LIBOR Market Index Rate
or the Adjusted LIBO Rate.

2.4 Deletion of Definition. Section 1.02 of the Credit Agreement is hereby
amended by deleting the definition of “Excess Cash” in its entirety.

2.5 Amendment to Section 2.02(b) of the Credit Agreement. The first sentence of
Section 2.02(b) of the Credit Agreement is hereby amended and restated in its
entirety to read in in full as follows:

Subject to Section 3.03 and Section 5.06, each Borrowing shall be comprised
entirely of ABR Loans, LIBOR Market Index Loans or Eurodollar Loans as the
Borrower may request in accordance herewith.

2.6 Amendment to Section 2.02(c) of the Credit Agreement. The first reference to
“ABR Borrowing” contained in Section 2.02(c) of the Credit Agreement is hereby
deleted and replaced with a reference to “ABR Borrowing or LIBOR Market Index
Borrowing”.

2.7 Amendment to Section 2.03 of the Credit Agreement. The first reference to
“ABR Borrowing” contained in Section 2.03 of the Credit Agreement is hereby
deleted and replaced with a reference to “ABR Borrowing or a LIBOR Market Index
Borrowing”.

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2.8 Amendment to Section 2.03(iii) of the Credit Agreement. The first reference
to “ABR Borrowing” contained in Section 2.03(iii) of the Credit Agreement is
hereby deleted and replaced with a reference to “ABR Borrowing, a LIBOR Market
Index Borrowing”.

2.9 Amendment to Section 2.04(c)(iii) of the Credit Agreement. The first
reference to “ABR Borrowing” contained in Section 2.04(c)(iii) of the Credit
Agreement is hereby deleted and replaced with a reference to “ABR Borrowing, a
LIBOR Market Index Borrowing”.

2.10 Amendment to Section 3.02(a) of the Credit Agreement. Section 3.02(a) of
the Credit Agreement is hereby amended and restated in its entirety to read in
full as follows:

ABR Loans and LIBOR Market Index Loans. The Loans comprising each ABR Borrowing
shall bear interest at the Alternate Base Rate plus the Applicable Margin, but
in no event to exceed the Highest Lawful Rate. The Loans comprising each LIBOR
Market Index Borrowing shall bear interest at the LIBOR Market Index Rate plus
the Applicable Margin, but in no event to exceed the Highest Lawful Rate.

2.11 Amendment to Section 3.02(e) of the Credit Agreement. The last sentence of
Section 3.02(e) of the Credit Agreement is hereby amended and restated in its
entirety to read in in full as follows:

The applicable Alternate Base Rate, LIBOR Market Index Rate, Adjusted LIBO Rate
or LIBO Rate shall be determined by the Administrative Agent, and such
determination shall be conclusive absent manifest error, and be binding upon the
parties hereto.

2.12 Amendment to Section 3.04(b) of the Credit Agreement. The first reference
to “ABR Borrowing” contained in Section 3.04(b) of the Credit Agreement is
hereby deleted and replaced with a reference to “ABR Borrowing or a LIBOR Market
Index Borrowing”.

2.13 Amendment to Section 3.04(c)(iv) of the Credit Agreement.
Section 3.04(c)(iv) of the Credit Agreement is hereby amended and restated in
its entirety to read in full as follows:

Each prepayment of Borrowings pursuant to this Section 3.04(c) shall be applied,
first, ratably to any ABR Borrowings then outstanding, second, ratably to any
LIBOR Market Index Borrowings then outstanding, and third to any Eurodollar
Borrowings then outstanding, and if more than one Eurodollar Borrowing is then
outstanding, to such Eurodollar Borrowing in such order as the Borrower may
direct.

2.14 Amendment to Section 3.04(e) of the Credit Agreement. Section 3.04(e) of
the Credit Agreement is hereby amended and restated in its entirety to read in
its entirety as “[Reserved.]”.

2.15 Amendment to Section 5.01(a) of the Credit Agreement. Each reference to
“Eurodollar Loan” contained in Section 5.01(a) of the Credit Agreement is hereby
deleted and replaced with a reference to “Eurodollar Loan, LIBOR Market Index
Loan”.

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2.16 Amendment to Section 5.02 of the Credit Agreement. The first reference to
“ABR Loan” contained in Section 5.02 of the Credit Agreement is hereby deleted
and replaced with a reference to “ABR Loan or a LIBOR Market Index Loan”.

2.17 New Section 5.06 of the Credit Agreement. A new Section 5.06 is hereby
added to the Credit Agreement immediately following Section 5.05 thereof, which
Section 5.06 shall read in full as follows:

Section 5.06 Availability of LIBOR Market Index Loans. Notwithstanding any other
provision of this Agreement, in the event that any Lender determines in its sole
discretion that LIBOR Market Index Loans are not available to be made by it for
any reason (including, without limitation, as a result of such Loans becoming
illegal or such Lender determining that adequate and reasonable means do not
exist for determining the LIBOR Market Index Rate), then (a) such Lender shall
promptly notify the Borrower and the Administrative Agent thereof, (b) no Lender
shall be required to make LIBOR Market Index Loans (and the Borrower shall not
be entitled to request LIBOR Market Index Loans or convert any other Loans into
LIBOR Market Index Loans) until such Lender notifies the Borrower and the
Administrative Agent that LIBOR Market Index Loans are again available to be
made by such Lender, and (c) if such Lender so requests by notice to the
Borrower and the Administrative Agent, all LIBOR Market Index Loans of such
Lender then outstanding shall be automatically converted into ABR Loans on the
date specified by such Lender in such notice.

2.18 Amendment to Section 6.02(f) of the Credit Agreement. Section 6.02(f) of
the Credit Agreement is hereby amended and restated in its entirety to read in
its entirety as “[reserved.]”.

2.19 Amendment to Section 8.01(q) of the Credit Agreement. Section 8.01(q) of
the Credit Agreement is hereby amended and restated in its entirety to read in
its entirety as “[reserved.]”.

2.20 Amendment to Section 8.18 of the Credit Agreement. Section 8.18 of the
Credit Agreement is hereby amended and restated in its entirety to read in full
as follows:

Hedging Requirements. On or prior to April 30, 2018, the Borrower or any other
Loan Party shall enter into Swap Agreements on terms consistent with
Section 9.18 with Approved Counterparties to hedge a notional volume of not less
than, in the aggregate, 75% of the reasonably anticipated projected production
of Hydrocarbons from Proved Developed Producing Reserves included in the most
recent Reserve Report for each calendar month during 2018 and 2019 of crude oil,
natural gas and natural gas liquids, (which, in the case of natural gas liquids,
may be hedged with Swap Agreements for crude oil), each calculated separately.

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2.21 Amendment to Exhibit B of the Credit Agreement. Clause (iii) in Exhibit B
of the Credit Agreement is hereby amended and restated in its entirety to read
in full as follows:Requested Borrowing is to be [an ABR Borrowing] [a LIBOR
Market Index Borrowing] [a Eurodollar Borrowing];

2.22 Amendment to Exhibit C of the Credit Agreement. Clause (iii) in Exhibit C
of the Credit Agreement is hereby amended and restated in its entirety to read
in full as follows:

The resulting Borrowing is to be [an ABR Borrowing] [a LIBOR Market Index
Borrowing] [a Eurodollar Borrowing] [; and]

Section 3. Borrowing Base Redetermination and Reduction in Aggregate Elected
Commitment Amounts. Effective as of the First Amendment Effective Date until the
next Redetermination Date in accordance with the provisions of Section 2.07 of
the Credit Agreement, the Borrowing Base shall be $450,000,000 and such amount
shall be automatically reduced by $2,500,000 on the first day of each calendar
month following the First Amendment Effective Date to and including April 1,
2018. Notwithstanding the foregoing, the Borrowing Base may be subject to
further adjustments from time to time pursuant to Section 2.07(f) or
Section 8.13(c) of the Credit Agreement.

Section 4. Conditions Precedent to this First Amendment. The effectiveness of
the amendments to the Credit Agreement contained in Section 2 hereof is subject
to the following:

4.1 The Administrative Agent shall have received counterparts of this First
Amendment from the Loan Parties and the Lenders party hereto.

4.2 The Administrative Agent shall have received payment in full of a consent
fee for the benefit of the Lenders party hereto in an amount for each such
Lender equal to ten (10) basis points (0.10%) of the amount of such Lender’s
Commitment as of the First Amendment Effective Date.

4.3 All fees and expenses due and owing to Linklaters LLP invoiced at least two
(2) Business Days prior to the First Amendment Effective Date shall have been
paid or reimbursed by the Borrower.

4.4 No Default, Event of Default or Borrowing Base Deficiency shall exist
immediately prior to or after giving effect to the amendments to the Credit
Agreement contained in Section 2 hereof or the redetermination of the Borrowing
Base provided for in Section 3 hereof.

The Administrative Agent shall notify the Borrower and the Lenders of the
effectiveness of this First Amendment, and such notice shall be conclusive and
binding.

Section 5. Representations and Warranties; Etc. Each Loan Party hereby affirms:
(a) that as of the date hereof, all of the representations and warranties
contained in each Loan Document to which such Loan Party is a party are true and
correct in all material respects as though made on and as of the date hereof
(unless made as of a specific earlier date, in which case, was true as of such
date and except to the extent that any such representation and warranty is
qualified by materiality, in which case such representation and warranty shall
continue to be true and correct in all respects), (b) no Default or Event of
Default exists under the Loan Documents or will, after giving effect to this
First Amendment, exist under the Loan Documents and (c) no Material Adverse
Effect has occurred.

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Section 6. Miscellaneous.

6.1 Confirmation and Effect. The provisions of the Credit Agreement (as amended
by this First Amendment) shall remain in full force and effect in accordance
with its terms following the effectiveness of this First Amendment. Each
reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”,
“herein”, or words of like import shall mean and be a reference to the Credit
Agreement as amended hereby, and each reference to the Credit Agreement in any
other document, instrument or agreement executed and/or delivered in connection
with the Credit Agreement shall mean and be a reference to the Credit Agreement
as amended hereby. This First Amendment is a Loan Document for all purposes
under the Loan Documents.

6.2 Ratification and Affirmation of Loan Parties. Each of the Loan Parties
hereby expressly (a) acknowledges the terms of this First Amendment,
(b) ratifies and affirms its obligations under the Guaranty Agreement and the
other Loan Documents to which it is a party, as amended hereby,
(c) acknowledges, renews and extends its continued liability under the Guaranty
Agreement and the other Loan Documents to which it is a party, as amended
hereby, (d) ratifies and affirms all Liens granted by it pursuant to the Loan
Documents to secure the Indebtedness (except to the extent that such Liens have
been released in accordance with the Loan Documents) and (e) agrees that its
guarantee under the Guaranty Agreement and the other Loan Documents to which it
is a party, as amended hereby, remains in full force and effect with respect to
the Indebtedness.

6.3 Counterparts. This First Amendment may be executed by one or more of the
parties hereto in any number of separate counterparts, and all of such
counterparts taken together shall be deemed to constitute one and the same
instrument. Delivery of this First Amendment by facsimile or electronic (e.g.,
pdf) transmission shall be effective as delivery of a manually executed original
counterpart hereof.

6.4 No Oral Agreement. THIS WRITTEN FIRST AMENDMENT, THE CREDIT AGREEMENT AND
THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT
THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE
OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

6.5 Governing Law. THIS FIRST AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE
VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

6.6 Payment of Expenses. The Borrower agrees to pay or reimburse the
Administrative Agent for fees and expenses in connection with this First
Amendment pursuant to the terms and conditions of Section 12.03 of the Credit
Agreement.

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6.7 Severability. Any provision of this First Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

6.8 Successors and Assigns. This First Amendment shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and
assigns.

6.9 Release. EACH OF THE LOAN PARTIES, ON ITS OWN BEHALF AND ON BEHALF OF ITS
SUCCESSORS AND ASSIGNS (EACH OF THE FOREGOING, COLLECTIVELY, THE “RELEASING
PARTIES”), HEREBY ACKNOWLEDGES AND STIPULATES THAT AS OF THE DATE OF THIS FIRST
AMENDMENT, NONE OF THE RELEASING PARTIES HAS ANY CLAIMS, CAUSES OF ACTION,
DEMANDS OR LIABILITIES OF ANY KIND WHATSOEVER, WHETHER DIRECT OR INDIRECT, FIXED
OR CONTINGENT, LIQUIDATED OR UNLIQUIDATED, DISPUTED OR UNDISPUTED, KNOWN OR
UNKNOWN, AGAINST, OR ANY GROUNDS OR CAUSE FOR REDUCTION, MODIFICATION, SET ASIDE
OR SUBORDINATION OF THE INDEBTEDNESS OR ANY LIENS OR SECURITY INTERESTS OF, IN
EACH CASE WHICH ARISE OUT OF OR ARE RELATED TO THE INDEBTEDNESS OR ANY OF THE
LOAN DOCUMENTS (EACH, A “RELEASED CLAIM”), THE ADMINISTRATIVE AGENT, THE ISSUING
BANK, THE OTHER SECURED PARTIES OR ANY OF THEIR AFFILIATES, OFFICERS, DIRECTORS,
EMPLOYEES, AGENTS, ATTORNEYS, OR REPRESENTATIVES, OR AGAINST ANY OF THEIR
RESPECTIVE SUCCESSORS OR ASSIGNS (EACH OF THE FOREGOING, COLLECTIVELY, THE
“RELEASED PARTIES”). IN PARTIAL CONSIDERATION FOR THE AGREEMENT OF THE
ADMINISTRATIVE AGENT AND THE LENDERS PARTY HERETO TO ENTER INTO THIS FIRST
AMENDMENT, EACH OF THE RELEASING PARTIES HEREBY UNCONDITIONALLY WAIVES AND FULLY
AND FOREVER RELEASES, REMISES, DISCHARGES AND HOLDS HARMLESS THE RELEASED
PARTIES FROM ANY AND ALL RELEASED CLAIMS, WHICH ANY OF THE RELEASING PARTIES HAS
OR MAY ACQUIRE IN THE FUTURE RELATING IN ANY WAY TO ANY EVENT, CIRCUMSTANCE,
ACTION OR FAILURE TO ACT AT ANY TIME ON OR PRIOR TO THE FIRST AMENDMENT
EFFECTIVE DATE, SUCH WAIVER, RELEASE AND DISCHARGE BEING MADE WITH FULL
KNOWLEDGE AND UNDERSTANDING OF THE CIRCUMSTANCES AND EFFECTS OF SUCH WAIVER,
RELEASE AND DISCHARGE, AND AFTER HAVING CONSULTED LEGAL COUNSEL OF ITS OWN
CHOOSING WITH RESPECT THERETO. THIS PARAGRAPH IS IN ADDITION TO ANY OTHER
RELEASE OF ANY OF THE RELEASED PARTIES BY THE RELEASING PARTIES AND SHALL NOT IN
ANY WAY LIMIT ANY OTHER RELEASE, COVENANT NOT TO SUE OR WAIVER BY THE RELEASING
PARTIES IN FAVOR OF THE RELEASED PARTIES.

[Signature pages follow]

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IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be
duly executed effective as of the date first written above.

 

BORROWER:    

AMPLIFY ENERGY OPERATING LLC,

a Delaware limited liability company

    By:  

/s/ Robert L. Stillwell, Jr.

    Name: Robert L. Stillwell, Jr.     Title: Senior Vice President and Chief
Financial Officer GUARANTOR:    

AMPLIFY ACQUISITIONCO INC.,

a Delaware corporation

    By:  

/s/ Robert. L. Stillwell, Jr.

    Name: Robert L. Stillwell, Jr.     Title: Senior Vice President and Chief
Financial Officer    

AMPLIFY ENERGY SERVICES LLC,

a Delaware limited liability company

    By:  

/s/ Robert. L. Stillwell, Jr.

    Name: Robert L. Stillwell, Jr.     Title: Senior Vice President and Chief
Financial Officer    

COLUMBUS ENERGY, LLC,

a Delaware limited liability company

    By:   Amplify Energy Operating LLC, its sole member     By:  

/s/ Robert L. Stillwell, Jr.

    Name: Robert L. Stillwell, Jr.     Title: Senior Vice President and Chief
Financial Officer

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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BETA OPERATING COMPANY, LLC,

a Delaware limited liability company

By:  

/s/ Robert L. Stillwell, Jr.

Name: Robert L. Stillwell, Jr. Title: Chief Financial Officer

SAN PEDRO BAY PIPELINE COMPANY,

a California corporation

By:  

/s/ Robert L. Stillwell, Jr.

Name: Robert L. Stillwell, Jr. Title: Chief Financial Officer

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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ADMINISTRATIVE AGENT:    

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent, Issuing Bank and a Lender

    By:  

/s/ Kevin Davidson

    Name: Kevin Davidson     Title: Director

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     JPMORGAN CHASE BANK, N.A., as a Lender     By:  

/s/ Theresa M. Benson

    Name: Theresa M. Benson     Title: Authorized Officer

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     BANK OF AMERICA, N.A., as a Lender     By:  

/s/ Raza Jafferi

    Name: Raza Jafferi     Title: Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     CITIBANK, N.A., as a Lender     By:  

/s/ Jeff Ard

    Name: Jeff Ard     Title: Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:   BARCLAYS BANK PLC, as a Lender   By:  

/s/ Sydney G. Dennis

  Name: Sydney G. Dennis   Title: Director

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:   COMPASS BANK, as a Lender   By:  

/s/ Rachel Festervand

  Name: Rachel Festervand   Title: Sr. Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:   COMERICA BANK, as a Lender   By:  

/s/ Gary Culbertson

  Name: Gary Culbertson   Title: Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:   CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Lender   By:  

/s/ Michael Willis

  Name: Michael Willis   Title: Managing Director   By:  

/s/ David Gurghigian

  Name: David Gurghigian   Title: Managing Director

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:   ING CAPITAL LLC, as a Lender   By:  

/s/ Charles Hall

  Name: Charles Hall   Title: Managing Director   By:  

/s/ Josh Strong

  Name: Josh Strong   Title: Director

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     NATIXIS, NEW YORK BRANCH, as a Lender     By:  

/s/ Brice Le Foyer

    Name: Brice Le Foyer     Title: Director     By:  

/s/ Vikram Nath

    Name: Vikram Nath     Title: Director

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:

    ROYAL BANK OF CANADA, as a Lender     By:  

/s/ Don J. McKinnerney

    Name: Don J. McKinnerney    

Title: Authorized Signatory

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     U.S. BANK NATIONAL ASSOCIATION, as a Lender     By:  

/s/ Mike Warren

    Name: Mike Warren     Title: Senior VP

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AMPLIFY ENERGY OPERATING LLC]

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LENDER:     CAPITAL ONE, NATIONAL ASSOCIATION, as a Lender     By:  

/s/ Michael Higgins

    Name: Michael Higgins     Title: Sr. Director

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AMPLIFY ENERGY OPERATING LLC]

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LENDER:     BMO HARRIS BANK, N.A., as a Lender     By:  

/s/ James V. Ducote

    Name: James V. Ducote     Title: Managing Director

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     BRANCH BANKING AND TRUST COMPANY, as a Lender     By:  

/s/ Greg Krablin

    Name: Greg Krablin     Title: Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     SANTANDER BANK, N.A., as a Lender     By:  

/s/ David O’Driscoll

    Name: David O’Driscoll     Title: Senior Vice President     By:  

/s/ Mark Connelly

    Name: Mark Connelly     Title: Senior Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     CITIZENS BANK, N.A., as a Lender     By:  

/s/ David Baron

    Name: David Baron     Title: Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     REGIONS BANK, as a Lender     By:  

/s/ J. Patrick Carrigan

    Name: J. Patrick Carrigan     Title: Senior Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender     By:  

/s/ Anca Trifan

    Name: Anca Trifan     Title: Managing Director     By:  

/s/ Marcus Tarkington

    Name: Marcus Tarkington     Title: Director

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     ASSOCIATED BANK, N.A., as a Lender     By:  

/s/ Alison K. Tregilgas

    Name: Alison K. Tregilgas     Title: Senior Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     CADENCE BANK, N.A., as a Lender     By:  

/s/ Anthony Blanco

    Name: Anthony Blanco     Title: Senior Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     ZB, N.A. DBA AMEGY BANK, as a Lender     By:  

/s/ Sam Trail

    Name: Sam Trail     Title: Senior Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     SUNTRUST BANK, as a Lender     By:  

/s/ William S. Krueger

    Name: William S. Krueger     Title: First Vice President

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     GOLDMAN SACHS BANK USA, as a Lender     By:  

/s/ Chris Lam

    Name: Chris Lam     Title: Authorized Signatory

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]

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LENDER:     CARGILL, INCORPORATED, as a Lender     By:  

/s/ Tyler R. Smith

    Name: Tyler R. Smith     Title: Authorized Signer

[SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT –

AMPLIFY ENERGY OPERATING LLC]