Hedging | Capital Markets | Capital Expenditure | Capex Decrease | Capital Expenditure - 2020
Amplify Slims Down 2020 Capex by 37%; IDs $29MM Front-Loaded Budget
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Amplify Energy Corp. has lowered its 2020 capital expenditure budget by approximately $17 million or 37% compared to its prior plan.
Now the company plans to spend $29 million, compared to $46 million originally planned. This revised capital budget is expected to be spent primarily in the first quarter of 2020, where Amplify is maintaining its prior guidance for capital spending of $13 to $19 million.
Hedges
Amplify has 61% of forecasted 2020 production hedged, including 77% of crude oil hedged at $56.29 per barrel.
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