Thread by @SaysDana

This is good information about the spill. But we have to look at who owns/operates the pipeline and the oil as well. The blame falls on them.

Let’s begin with Amplify Energy

en.wikipedia.org/wiki/Amplify_E…
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en.wikipedia.org/wiki/Amplify_E…
Amplify was born out of bankruptcy which to some would mean that they already had a tough start.

2/

They are also an investment vehicle for some, like Jeff and his Titan Grove group.
Fir Tree partners owns 27.7% of outstanding stock and Brigade Capital owns 10.7%
Like I said, coming out of bankruptcy is tough for some.
3/

To further improve the bottom line, you also merge or acquire businesses to help. Midstates Petroleum merged with them in 2019 as they went through bankruptcy as well.
As you can see buy backs were used and the top 5 officers of the companies made huge $$$$$$
4/

The other note of reference would be the revolving line of credit with the Bank of Montreal. They had $264 Million used in the line of credit in 2020. On Income of $275.6 Million.
So they asked for more money
5/

This time it was from the Federal Government. Just a mere $15.5 Million in loans from the PPP program. Doubtful they will return any funds by the amnesty deadline.
Where did the monies go?
Maintenance or salaries?
(Error in article of WaPost vs wiki)

So, this company is still “going through some things” now they have the Department of Interior that will be looking into them and maybe, just maybe, that will lead to other eyes on the money and help to come to Huntington Beach
END