Amplify Energy Corp (AMPY)

[downthehatch]

AMPY should be MUCH higher on the news yesterday.
Let's face it, we are in an environment where both the Federal govt, and the State govt in California are doing everything in their power to reduce production of oil and natgas. IN SPITE OF THAT, Amplify Energy just received permission to restart production at its Beta offshore platform this past weekend and has begun the process.

This is AFTER a major oil spill from it's pipeline about a year and a half ago, settlements with the state, and a settlement with the shipping companuies whose anchors damaged the pipeline.

This also occurs after a BIG earning beat in the last quarter results.

So here we have a big bump in AMPY's oil production beginning this month, for the second quarter, after their insurer paid for loss of production right up until the end of the first quarter. I've seen all the negative posts about bad management, but from my perspective, tehy are doing what needs to be done, and should do quite well going foraward, as long as oil prices hold fairly steady.
This is a buy at this level. Period.