‘Extraordinary volatility’ from tariffs cancels energy deals and freezes M&A

Pumpjacks are pictured at Diamondback Energy's operations in the Permian Basin.

Small-cap oil and gas producer Amplify Energy announced a “transformational” acquisition in January to add almost 300,000 net acres of crude-heavy assets in Wyoming.

But the celebratory engagement was short lived. It was a risky growth play for a minor player. Shareholder doubt quickly turned to defiance when coupled with President Trump’s barrage of tariffs and global oil oversupply fears.