Amplify Energy Corp. Files 8-K on Financial Obligations
Ticker: AMPY · Form: 8-K · Filed: Oct 25, 2024 · CIK: 1533924
Sentiment: neutral
Topics: debt, agreement, financial-obligation
TL;DR
Amplify Energy Corp. just filed an 8-K detailing new financial obligations. Watch for impacts on debt and operations.
AI Summary
On October 25, 2024, Amplify Energy Corp. entered into a material definitive agreement related to its financial obligations. This filing also covers the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The report includes financial statements and exhibits.
Why It Matters
This 8-K filing indicates Amplify Energy Corp. has entered into new financial agreements or obligations, which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Filings related to material definitive agreements and financial obligations can signal significant changes in a company's financial health or strategic direction.
Key Players & Entities
- Amplify Energy Corp. (company) — Registrant
- October 25, 2024 (date) — Date of earliest event reported
- Midstates Petroleum Company, Inc. (company) — Former company name
FAQ
What specific material definitive agreement did Amplify Energy Corp. enter into?
The filing indicates the entry into a material definitive agreement but does not specify the details of the agreement itself within the provided text.
What is the nature of the direct financial obligation or off-balance sheet arrangement?
The filing states the creation of such an obligation or arrangement but does not provide specific details on its nature or terms.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated October 25, 2024.
What was Amplify Energy Corp.'s former company name?
Amplify Energy Corp.'s former company name was Midstates Petroleum Company, Inc.
What is the primary business of Amplify Energy Corp. according to the SIC code?
According to the Standard Industrial Classification code [1311], the primary business of Amplify Energy Corp. is Crude Petroleum & Natural Gas.
Filing Stats: 650 words · 3 min read · ~2 pages · Grade level 11.8 · Accepted 2024-10-25 17:17:37
Key Financial Figures
- $150.0 million — ng base under the Credit Agreement from $150.0 million to $145.0 million, (ii) increase the ag
- $145.0 m — Credit Agreement from $150.0 million to $145.0 million, (ii) increase the aggregate elec
- $135.0 million — itments under the Credit Agreement from $135.0 million to $145.0 million and (iii) amend certa
- $145.0 million — Credit Agreement from $135.0 million to $145.0 million and (iii) amend certain interest rates
Filing Documents
- tm2426527d1_8k.htm (8-K) — 27KB
- tm2426527d1_ex10-1.htm (EX-10.1) — 58KB
- 0001104659-24-111537.txt ( ) — 265KB
- ampy-20241025.xsd (EX-101.SCH) — 3KB
- ampy-20241025_lab.xml (EX-101.LAB) — 33KB
- ampy-20241025_pre.xml (EX-101.PRE) — 22KB
- tm2426527d1_8k_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On October 25 , 2024, Amplify Energy Operating LLC (the "Borrower"), a wholly owned subsidiary of Amplify Energy Corp., a Delaware corporation (the "Company"), entered into the Borrowing Base Redetermination, Commitment Increase and First Amendment to Amended and Restated Credit Agreement (the "First Amendment"), among the Borrower, Amplify Acquisitionco LLC, the guarantors party thereto, the lenders party thereto and KeyBank National Association, as administrative agent for the lenders. The First Amendment amends the Amended and Restated Credit Agreement, dated July 31, 2023 (the "Credit Agreement"), to, among other things: (i) reduce the borrowing base under the Credit Agreement from $150.0 million to $145.0 million, (ii) increase the aggregate elected commitments under the Credit Agreement from $135.0 million to $145.0 million and (iii) amend certain interest rates applicable to loans under the Credit Agreement. The foregoing description of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the First Amendment, which is filed as Exhibit 10.1 to this report and incorporated herein by reference.
03 Creation of a Direct Financial Obligation or an Obligation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information required by Item 2.03 relating to the First Amendment is contained in Item 1.01 of this Current Report on Form 8-K above and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 10.1 Borrowing Base Redetermination, Commitment Increase and First Amendment to Amended and Restated Credit Agreement, dated October 25 , 2024 by and among Amplify Energy Operating LLC, Amplify Acquisitionco LLC, the guarantors party thereto, the lenders party thereto and KeyBank National Association, as administrative agent. 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. AMPLIFY ENERGY CORP. Date: October 25 , 2024 By: /s/ Martyn Willsher Name: Martyn Willsher Title: President and Chief Executive Officer