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AMPY - Amplify Energy: May Be Able To Eliminate Its Net Debt By 2024
Amplify Energy Corp.
Amplify received forgiveness for its $5.5 million PPP loan.
This helped it reduce its net debt by $34 million in the first half of 2021, going from $250 million to $216 million.
It appears on track to reduce its net debt below $200 million in 2021.
At current strip, it could also generate $135 million in free cash flow in 2022 and 2023, resulting in it potentially eliminating its net debt in 2024.