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Lasry鈥檚 Avenue Capital Group
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Who owns amplify stock?
Institutional investors own about a third of the company’s shares. Amplify is a very small company, with only 222 employees as of the end of 2018, the last time it reported the size of its staff in a company filing. Its most recent financial report shows sales of $153 million, with year-to-date losses of $54.4 million through the end of June.
What is amplify doing to grow its offshore oil business?
Offshore oil production on federal lands has been a focus for Amplify as it tries to grow its business. The company said in August it had spent $1.7 million in capital to increase its operations at federal lands off the southern California coast, and that it expected to start production in September.
Is there a history of problems with the amplify pipeline?
This history of problems was first reported by the Los Angeles Times. The facilities operating the pipeline were built in the late 1970s and early 1980s and are inspected every other year, Amplify CEO Martyn Willsher said at a news conference Sunday. He said company employees noticed the oil spill and notified the Coast Guard on Saturday.
