Search TradeFlow


Amplify Energy Announces Sale of Non-Core South Texas Properties for $20 Million

HOUSTON, March 13, 2018 (GLOBE NEWSWIRE) — Amplify Energy Corp. (“Amplify Energy” or the “Company”) (OTCQX:AMPY) announced today that it has signed a definitive agreement to sell its interest in properties located in South Texas to an undisclosed buyer for a contract price of $20 million, subject to closing adjustments.  The net proceeds from the sale are expected to be used to reduce outstanding borrowings under the Company’s existing revolving credit facility.  Pro forma for this sale, the Company expects to have net debt of approximately $320 million under its revolving credit facility.  Additionally, the divestiture of these mature gas assets will significantly reduce the Company’s future abandonment liabilities.



This is not an offer to buy or sell securities. Oil investment carries with it very high risks. The information contained within this site has not been nor will it be verified by Envestor First and is subject to change at any time. We are not a United States Securities Dealer or Broker or United States Investment Adviser. Do your own due diligence and consult with a licensed professional before making any investment decisions. Please read our full disclaimer before making any decisions.