Why These Energy Stocks are Gaining This Week

4. Amplify Energy Corp. (NYSE:AMPY)

Share Price Gains Between July 15 – July 22: 21.67%

Amplify Energy Corp. (NYSE:AMPY) is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties.

Amplify Energy Corp. (NYSE:AMPY) shot up this week after the company announced significant changes to its executive leadership team. According to the announcement, Martyn Willsher has stepped down as President and CEO, transitioning to a Special Advisor role, while Dan Furbee was appointed as the new CEO and Jim Frew as President and CFO.

Moreover, Amplify Energy Corp. (NYSE:AMPY) revealed that it has hired TenOaks Energy Advisors to explore market interest for the complete divestiture of its assets in East Texas and Oklahoma, in order to become more oil-weighted, reduce debt, lower operating costs, and streamline its organization.