Amplify Energy Corp. closed the previously announced amended revolving credit facility with Citizens Bank, N.A.
The amended facility extends the maturity to December 31, 2028, with an initial borrowing base of $25 million and elected commitments of $15 million.
After the amendment, Amplify Energy Corp. had no balance drawn on the credit facility, ensuring cash availability for strategic objectives.
The extension of the credit facility's maturity provides Amplify Energy with enhanced financial flexibility and stronger liquidity to support its future operations and growth strategies.
Facility Amendment
The extension of the revolving credit facility's maturity to 2028, along with an initial borrowing base of $25 million, strengthens Amplify Energy Corp.'s financial position.
Financial Flexibility
With no outstanding balance post-amendment, Amplify Energy now has increased cash on hand to drive forward its strategic initiatives in the oil industry.
Future Redetermination
Anticipated redetermination of the borrowing base scheduled for the second quarter of 2026 will provide insights into Amplify Energy's future credit capacity.
- The amended revolving credit facility not only bolsters Amplify Energy's financial flexibility but also positions the company to seize growth opportunities within the oil sector.
- By maintaining an unused credit facility, Amplify Energy is well-prepared to capitalize on potential investments and navigate market challenges effectively.
The closing of the amended revolving credit facility marks a significant milestone for Amplify Energy Corp., reinforcing its financial stability and enabling the pursuit of future endeavors within the dynamic oil industry landscape.