{"id":384427,"date":"2020-11-18T16:08:27","date_gmt":"2020-11-18T21:08:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=384427"},"modified":"2020-11-18T16:08:27","modified_gmt":"2020-11-18T21:08:27","slug":"amplify-energy-announces-successful-borrowing-base-reaffirmation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/amplify-energy-announces-successful-borrowing-base-reaffirmation\/","title":{"rendered":"Amplify Energy Announces Successful Borrowing Base Reaffirmation"},"content":{"rendered":"
\n

HOUSTON, Nov. 18, 2020 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (\u201cAmplify\u201d or the \u201cCompany\u201d) announced today that it has completed the regularly scheduled semi-annual redetermination of its revolving credit facility (\u201cRCF\u201d) borrowing base and entered into an amendment to its credit agreement. The redetermination reaffirmed the borrowing base at $260 million. The next regularly scheduled borrowing base redetermination is expected to occur in April 2021.<\/p>\n

As of October 30, 2020, Amplify had total net debt of $243 million, with $260 million outstanding under the credit facility and $17 million of cash on hand.<\/p>\n

Martyn Willsher, Amplify\u2019s Interim Chief Executive Officer and Chief Financial Officer commented, \u201cWith today\u2019s redetermination holding the borrowing base flat at $260 million, the Company is well positioned to continue improving its liquidity position and leverage profile going forward. This was an excellent outcome, which demonstrates the sustainable value of our long-lived, low-decline asset base and the success of our disciplined commodity hedging program. We could not have realized this result without the support of our bank group and the exceptional work of our employees, who have worked tirelessly to reduce costs and increase free cash flow during the ongoing COVID-19 pandemic and resulting depressed commodity price environment.\u201d<\/p>\n

\n About Amplify Energy<\/strong>\n <\/p>\n

Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas properties. Amplify\u2019s operations are focused in Oklahoma, the Rockies, offshore California, East Texas \/ North Louisiana and South Texas. For more information, visit www.amplifyenergy.com.<\/p>\n

\n Investor Relations Contacts<\/strong>\n <\/p>\n

Martyn Willsher \u2013 Interim CEO & CFO
(832) 219-9047
martyn.willsher@amplifyenergy.com<\/a><\/p>\n

Jason McGlynn \u2013 VP, Business Development
(832) 219-9055
jason.mcglynn@amplifyenergy.com<\/a><\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

HOUSTON, Nov. 18, 2020 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (\u201cAmplify\u201d or the \u201cCompany\u201d) announced today that it has completed the regularly scheduled semi-annual redetermination of its revolving credit facility (\u201cRCF\u201d) borrowing base and entered into an amendment to its credit agreement. The redetermination reaffirmed the borrowing base at $260 million. The next regularly scheduled borrowing base redetermination is expected to occur in April 2021. As of October 30, 2020, Amplify had total net debt of $243 million, with $260 million outstanding under the credit facility and $17 million of cash on hand. Martyn Willsher, Amplify\u2019s Interim Chief Executive Officer and Chief Financial Officer commented, \u201cWith today\u2019s redetermination holding the borrowing base flat at $260 million, the Company … <\/p>\n

Continue reading “Amplify Energy Announces Successful Borrowing Base Reaffirmation”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-384427","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAmplify Energy Announces Successful Borrowing Base Reaffirmation - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/amplify-energy-announces-successful-borrowing-base-reaffirmation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amplify Energy Announces Successful Borrowing Base Reaffirmation - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HOUSTON, Nov. 18, 2020 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (\u201cAmplify\u201d or the \u201cCompany\u201d) announced today that it has completed the regularly scheduled semi-annual redetermination of its revolving credit facility (\u201cRCF\u201d) borrowing base and entered into an amendment to its credit agreement. The redetermination reaffirmed the borrowing base at $260 million. The next regularly scheduled borrowing base redetermination is expected to occur in April 2021. As of October 30, 2020, Amplify had total net debt of $243 million, with $260 million outstanding under the credit facility and $17 million of cash on hand. Martyn Willsher, Amplify\u2019s Interim Chief Executive Officer and Chief Financial Officer commented, \u201cWith today\u2019s redetermination holding the borrowing base flat at $260 million, the Company … Continue reading "Amplify Energy Announces Successful Borrowing Base Reaffirmation"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/amplify-energy-announces-successful-borrowing-base-reaffirmation\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-18T21:08:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODUwMSMzODMzNzg3IzIwMDc4NDU=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/amplify-energy-announces-successful-borrowing-base-reaffirmation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/amplify-energy-announces-successful-borrowing-base-reaffirmation\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Amplify Energy Announces Successful Borrowing Base Reaffirmation\",\"datePublished\":\"2020-11-18T21:08:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/amplify-energy-announces-successful-borrowing-base-reaffirmation\\\/\"},\"wordCount\":279,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/amplify-energy-announces-successful-borrowing-base-reaffirmation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4ODUwMSMzODMzNzg3IzIwMDc4NDU=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/amplify-energy-announces-successful-borrowing-base-reaffirmation\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/amplify-energy-announces-successful-borrowing-base-reaffirmation\\\/\",\"name\":\"Amplify Energy Announces Successful Borrowing Base Reaffirmation - 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