Tired of K-1s? The trend over the past two years has been for energy-related companies to either convert from the MLP/LP structure to C-Corp.s, with a goal of attracting a broader investor base, and simplifying their corporate structures, or, to issue 1099s instead of K1s. We found two relatively new companies in the energy patch which have adopted this idea...
Amplify Energy (OTC:AMPY) is an independent upstream oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties located in Oklahoma, the Rockies, offshore California, East Texas / North Louisiana and South Texas. It was formerly known as Memorial Production Partners LP and changed its name to Amplify Energy Corp. in May 2017. Rattler Midstream LP (RTLR) owns, operates, develops, and acquires midstream infrastructure assets in the Midland and Delaware Basins of the Permian Basin in West Texas.
Source: Seeking Alpha
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