borrowing base redetermination on november 8 , 2019 , as part of the company fall 2019 semiannual borrowing base redetermination , the borrowing base and lender commitments under the company 's credit agreement among wholly owned subsidiaries of the company , bank of montreal , as administrative agent , and other lenders party thereto ( as amended from time to time , the “ revolving credit facility ” ) were decreased from $ 530.0 million to $ 450.0 million , with the next such redetermination scheduled for spring 2020. the revolving credit facility is a reserve-based revolving credit facility with a maturity date of november 2 , 2023 , and semiannual borrowing base redeterminations . 50 departure of certain officers on january 30 , 2020 , richard p. smiley notified the company of his intent to resign from his current position as senior vice president , operations . mr. smiley intends to remain in his role at the company to assist with an orderly transition of his responsibilities . mr. smiley did not resign from the position of senior vice president , operations due to any disagreement with the company or any matter relating to the company 's operations , policies or practices . predecessor and successor reporting as a result of the application of fresh start accounting upon the emergence from bankruptcy , the legacy amplify 's consolidated financial statements and certain note presentations are separated into two distinct periods , the period before the effective date ( labeled predecessor ) and the period after that date ( labeled successor ) , to indicate the application of different basis of accounting between the periods presented . despite this separate presentation , there was continuity of the legacy amplify operations . see note 3 of the notes to consolidated financial statements included under “ item 8. financial statements and supplementary data ” for additional information related to our adoption of fresh start accounting . business environment and operational focus we use a variety of financial and operational metrics to assess the performance of our oil and natural gas operations , including : ( i ) production volumes ; ( ii ) realized prices on the sale of our production ; ( iii ) cash settlements on our commodity derivatives ; ( iv ) lease operating expense ; ( v ) gathering , processing and transportation ; ( vi ) general and administrative expense ; and ( vii ) adjusted ebitda . production volumes production volumes directly impact our results of operations . for more information about our volumes , see “ — results of operations ” below . realized prices on the sale of oil and natural gas we market our oil and natural gas production to a variety of purchasers based on regional pricing . the relative prices of oil and natural gas are determined by the factors impacting global and regional supply and demand dynamics , such as economic conditions , production levels , weather cycles and other events . in addition , realized prices are heavily influenced by product quality and location relative to consuming and refining markets . natural gas . the nymex-henry hub future price of natural gas is a widely used benchmark for the pricing of natural gas in the united states . the actual prices realized from the sale of natural gas can differ from the quoted nymex-henry hub price as a result of quality and location differentials . quality differentials to nymex-henry hub prices result from : ( 1 ) the btu content of natural gas , which measures its heating value , and ( 2 ) the percentage of sulfur , co 2 and other inert content by volume . natural gas with a high btu content ( “ wet ” natural gas ) sells at a premium to natural gas with low btu content ( “ dry ” natural gas ) because it yields a greater quantity of ngls . natural gas with low sulfur and co 2 content sells at a premium to natural gas with high sulfur and co 2 content because of the added cost required to separate the sulfur and co 2 from the natural gas to render it marketable . wet natural gas may be processed in third-party natural gas plants , where residue natural gas as well as ngls are recovered and sold . at the wellhead , our natural gas production typically has an average energy content greater than 1,000 btu . the dry natural gas residue from our properties is generally sold based on index prices in the region from which it is produced . location differentials to nymex-henry hub prices result from variances in transportation costs based on the produced natural gas ' proximity to the major consuming markets to which it is ultimately delivered . historically , these index prices have generally been at a discount to nymex-henry hub natural gas prices . oil . the nymex-wti futures price is a widely used benchmark in the pricing of domestic and imported oil in the united states . the ice brent futures price is a widely used global price benchmark for oil . the actual prices realized from the sale of oil can differ from the quoted nymex-wti price as a result of quality and location differentials . quality differentials result from the fact that crude oils differ from one another in their molecular makeup , which plays an important part in their refining and subsequent sale as petroleum products . among other things , there are two characteristics that commonly drive quality differentials : ( 1 ) the oil 's american petroleum institute ( “ api ” ) gravity and ( 2 ) the oil 's percentage of sulfur content by weight . story_separator_special_tag results of operations the results of operations for the years ended december 31 , 2019 and 2018 , the period from may 5 , 2017 through december 31 , 2017 and the period from january 1 , 2017 through may 4 , 2017 , have been derived from our consolidated financial statements . factors affecting the comparability of the historical financial results the comparability of the results of operations among the periods presented is impacted by the following significant transactions : the south texas divestiture in may 2018 for approximately $ 17.1 million ; and the merger between legacy amplify and midstates in august 2019. as a result of the factors listed above , the historical results of operations and period-to-period comparisons of these results and certain financial data may not be comparable or indicative of future results . 55 the table below summarizes certain of the results of operations and period-to-period comparisons for the periods indicated . replace_table_token_11_th for the year ended december 31 , 2019 compared to the year ended december 31 , 2018 net loss of $ 35.2 million and net income of $ 54.6 million was recorded for the year ended december 31 , 2019 and 2018 , respectively . oil , natural gas and ngl revenues were $ 274.6 million and $ 339.8 million for the year ended december 31 , 2019 and 2018 , respectively . average net production volumes were approximately 25.4 mboe/d and 26.6 mboe/d for the year ended december 31 , 2019 and 2018 , respectively . the change in production volumes was primarily related to decreases in drilling activities partially offset by the merger of midstates . the average realized sales price was $ 29.67 per boe and $ 35.06 per boe for the year ended december 31 , 2019 and 2018 , respectively . the change in the average realized sales price was primarily due to lower production . lease operating expense was $ 123.9 million and $ 114.4 million for the year ended december 31 , 2019 and 2018 , respectively . the change in lease operating expense was the result of increased workover activity and the merger with midstates . on a per boe basis , lease operating expense was $ 13.39 and $ 11.80 for the year ended december 31 , 2019 and 2018 , respectively . the change in lease operating expense on a per boe basis was primarily related to increased workover activity and lower production . 56 gathering , processing and transportation expenses were $ 18.5 million and $ 23.2 million for the year ended december 31 , 2019 and 2018 , respectively . the change in gathering , processing and transportation expenses was primarily due to lower production . on a per boe basis , gathering , processing and transportation expenses were $ 2.00 and $ 2.40 for the year ended december 31 , 2019 and 2018 , respectively . taxes other than income was $ 18.7 million and $ 20.4 million for the year ended december 31 , 2019 and 2018 , respectively . on a per boe basis , taxes other than income were $ 2.02 and $ 2.10 for the year ended december 31 , 2019 and 2018 , respectively . the change in taxes other than income on a per boe basis was primarily due to a decrease in commodity prices . dd & a expense was $ 55.8 million and $ 52.3 million for the year ended december 31 , 2019 and 2018 , respectively . the change in dd & a expense was primarily due to the merger with midstates which closed on august 6 , 2019. impairment expense was $ 2.2 million for the year ended december 31 , 2019 related to certain unproved leasehold costs in oklahoma . this was primarily due to changes in development plans in the areas of alfalfa , major and woods counties in oklahoma . no impairment expense was recognized for the year ended december 31 , 2018. general and administrative expense was $ 55.3 million and $ 43.1 million for the year ended december 31 , 2019 and 2018 , respectively . general and administrative expense for the year ended december 31 , 2019 , includes $ 17.3 million related to acquisition expense and $ 7.3 million related to severance payments . the merger acquisition expenses are non-recurring and are not expected to impact future expenses . non-cash share/unit-based compensation expense was approximately $ 4.8 million and $ 4.2 million for the year ended december 31 , 2019 and 2018 , respectively . general and administrative expense for the year ended december 31 , 2018 , included $ 7.5 million in severance payments to certain legacy amplify departing executives . net losses on commodity derivative instruments of $ 6.7 million were recognized for the year ended december 31 , 2019 , consisting of $ 10.9 million decrease in the fair value of open positions offset by $ 4.2 million of cash settlements received on expired positions . net gains on commodity derivative instruments of $ 8.2 million were recognized for the year ended december 31 , 2018 , consisting of $ 10.1 million of cash settlements received on expired positions offset by a $ 1.9 million decrease in the fair value of open positions . given the volatility of commodity prices , it is not possible to predict future reported unrealized mark-to-market net gains or losses and the actual net gains or losses that will ultimately be realized upon settlement of the hedge positions in future years . if commodity prices at settlement are lower than the prices of the hedge positions , the hedges are expected to mitigate the otherwise negative effect on earnings of lower oil , natural gas and ngl prices . however , if commodity prices at settlement are higher than the prices of the hedge positions , the hedges are expected to dampen the otherwise positive effect on earnings of higher oil ,

debt agreements revolving credit facility . on november 2 , 2018 , ollc as borrower , entered into the revolving credit facility ( as amended and supplemented to date ) with bank of montreal , as administrative agent . at december 31 , 2019 , our borrowing base under our revolving credit facility was subject to redetermination on at least a semi-annual basis primarily based on a reserve engineering report with respect to our estimated natural gas , oil and ngl reserves , which takes into account the available natural gas , oil and ngl prices at such time , as adjusted for the impact of our commodity derivative contracts . the borrowing base as of december 31 , 2019 , was $ 450.0 million . as of december 31 , 2019 , we were in compliance with all the financial ( current ratio and total leverage ratio ) and other covenants associated with our revolving credit facility . as of december 31 , 2019 , we had approximately $ 163.4 million of available borrowings under our revolving credit facility , net of $ 1.7 million in letters of credit . for additional information regarding the revolving credit facility , see note 11 of the notes to consolidated financial statements included under “ item 8. financial statements and supplementary data ” of this annual report for additional information . cash flows from operating , investing and financing activities the following table summarizes our cash flows from operating , investing and financing activities for the periods indicated . the cash flows for the years ended december 31 , 2019 and 2018 , have been derived from our consolidated financial statements . for information regarding the individual components of our cash flow amounts , see the statements of consolidated cash flows included under “ item 8.


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```debt agreements revolving credit facility . on november 2 , 2018 , ollc as borrower , entered into the revolving credit facility ( as amended and supplemented to date ) with bank of montreal , as administrative agent . at december 31 , 2019 , our borrowing base under our revolving credit facility was subject to redetermination on at least a semi-annual basis primarily based on a reserve engineering report with respect to our estimated natural gas , oil and ngl reserves , which takes into account the available natural gas , oil and ngl prices at such time , as adjusted for the impact of our commodity derivative contracts . the borrowing base as of december 31 , 2019 , was $ 450.0 million . as of december 31 , 2019 , we were in compliance with all the financial ( current ratio and total leverage ratio ) and other covenants associated with our revolving credit facility . as of december 31 , 2019 , we had approximately $ 163.4 million of available borrowings under our revolving credit facility , net of $ 1.7 million in letters of credit . for additional information regarding the revolving credit facility , see note 11 of the notes to consolidated financial statements included under “ item 8. financial statements and supplementary data ” of this annual report for additional information . cash flows from operating , investing and financing activities the following table summarizes our cash flows from operating , investing and financing activities for the periods indicated . the cash flows for the years ended december 31 , 2019 and 2018 , have been derived from our consolidated financial statements . for information regarding the individual components of our cash flow amounts , see the statements of consolidated cash flows included under “ item 8.
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 Suspicious Activity Report : borrowing base redetermination on november 8 , 2019 , as part of the company fall 2019 semiannual borrowing base redetermination , the borrowing base and lender commitments under the company 's credit agreement among wholly owned subsidiaries of the company , bank of montreal , as administrative agent , and other lenders party thereto ( as amended from time to time , the “ revolving credit facility ” ) were decreased from $ 530.0 million to $ 450.0 million , with the next such redetermination scheduled for spring 2020. the revolving credit facility is a reserve-based revolving credit facility with a maturity date of november 2 , 2023 , and semiannual borrowing base redeterminations . 50 departure of certain officers on january 30 , 2020 , richard p. smiley notified the company of his intent to resign from his current position as senior vice president , operations . mr. smiley intends to remain in his role at the company to assist with an orderly transition of his responsibilities . mr. smiley did not resign from the position of senior vice president , operations due to any disagreement with the company or any matter relating to the company 's operations , policies or practices . predecessor and successor reporting as a result of the application of fresh start accounting upon the emergence from bankruptcy , the legacy amplify 's consolidated financial statements and certain note presentations are separated into two distinct periods , the period before the effective date ( labeled predecessor ) and the period after that date ( labeled successor ) , to indicate the application of different basis of accounting between the periods presented . despite this separate presentation , there was continuity of the legacy amplify operations . see note 3 of the notes to consolidated financial statements included under “ item 8. financial statements and supplementary data ” for additional information related to our adoption of fresh start accounting . business environment and operational focus we use a variety of financial and operational metrics to assess the performance of our oil and natural gas operations , including : ( i ) production volumes ; ( ii ) realized prices on the sale of our production ; ( iii ) cash settlements on our commodity derivatives ; ( iv ) lease operating expense ; ( v ) gathering , processing and transportation ; ( vi ) general and administrative expense ; and ( vii ) adjusted ebitda . production volumes production volumes directly impact our results of operations . for more information about our volumes , see “ — results of operations ” below . realized prices on the sale of oil and natural gas we market our oil and natural gas production to a variety of purchasers based on regional pricing . the relative prices of oil and natural gas are determined by the factors impacting global and regional supply and demand dynamics , such as economic conditions , production levels , weather cycles and other events . in addition , realized prices are heavily influenced by product quality and location relative to consuming and refining markets . natural gas . the nymex-henry hub future price of natural gas is a widely used benchmark for the pricing of natural gas in the united states . the actual prices realized from the sale of natural gas can differ from the quoted nymex-henry hub price as a result of quality and location differentials . quality differentials to nymex-henry hub prices result from : ( 1 ) the btu content of natural gas , which measures its heating value , and ( 2 ) the percentage of sulfur , co 2 and other inert content by volume . natural gas with a high btu content ( “ wet ” natural gas ) sells at a premium to natural gas with low btu content ( “ dry ” natural gas ) because it yields a greater quantity of ngls . natural gas with low sulfur and co 2 content sells at a premium to natural gas with high sulfur and co 2 content because of the added cost required to separate the sulfur and co 2 from the natural gas to render it marketable . wet natural gas may be processed in third-party natural gas plants , where residue natural gas as well as ngls are recovered and sold . at the wellhead , our natural gas production typically has an average energy content greater than 1,000 btu . the dry natural gas residue from our properties is generally sold based on index prices in the region from which it is produced . location differentials to nymex-henry hub prices result from variances in transportation costs based on the produced natural gas ' proximity to the major consuming markets to which it is ultimately delivered . historically , these index prices have generally been at a discount to nymex-henry hub natural gas prices . oil . the nymex-wti futures price is a widely used benchmark in the pricing of domestic and imported oil in the united states . the ice brent futures price is a widely used global price benchmark for oil . the actual prices realized from the sale of oil can differ from the quoted nymex-wti price as a result of quality and location differentials . quality differentials result from the fact that crude oils differ from one another in their molecular makeup , which plays an important part in their refining and subsequent sale as petroleum products . among other things , there are two characteristics that commonly drive quality differentials : ( 1 ) the oil 's american petroleum institute ( “ api ” ) gravity and ( 2 ) the oil 's percentage of sulfur content by weight . story_separator_special_tag results of operations the results of operations for the years ended december 31 , 2019 and 2018 , the period from may 5 , 2017 through december 31 , 2017 and the period from january 1 , 2017 through may 4 , 2017 , have been derived from our consolidated financial statements . factors affecting the comparability of the historical financial results the comparability of the results of operations among the periods presented is impacted by the following significant transactions : the south texas divestiture in may 2018 for approximately $ 17.1 million ; and the merger between legacy amplify and midstates in august 2019. as a result of the factors listed above , the historical results of operations and period-to-period comparisons of these results and certain financial data may not be comparable or indicative of future results . 55 the table below summarizes certain of the results of operations and period-to-period comparisons for the periods indicated . replace_table_token_11_th for the year ended december 31 , 2019 compared to the year ended december 31 , 2018 net loss of $ 35.2 million and net income of $ 54.6 million was recorded for the year ended december 31 , 2019 and 2018 , respectively . oil , natural gas and ngl revenues were $ 274.6 million and $ 339.8 million for the year ended december 31 , 2019 and 2018 , respectively . average net production volumes were approximately 25.4 mboe/d and 26.6 mboe/d for the year ended december 31 , 2019 and 2018 , respectively . the change in production volumes was primarily related to decreases in drilling activities partially offset by the merger of midstates . the average realized sales price was $ 29.67 per boe and $ 35.06 per boe for the year ended december 31 , 2019 and 2018 , respectively . the change in the average realized sales price was primarily due to lower production . lease operating expense was $ 123.9 million and $ 114.4 million for the year ended december 31 , 2019 and 2018 , respectively . the change in lease operating expense was the result of increased workover activity and the merger with midstates . on a per boe basis , lease operating expense was $ 13.39 and $ 11.80 for the year ended december 31 , 2019 and 2018 , respectively . the change in lease operating expense on a per boe basis was primarily related to increased workover activity and lower production . 56 gathering , processing and transportation expenses were $ 18.5 million and $ 23.2 million for the year ended december 31 , 2019 and 2018 , respectively . the change in gathering , processing and transportation expenses was primarily due to lower production . on a per boe basis , gathering , processing and transportation expenses were $ 2.00 and $ 2.40 for the year ended december 31 , 2019 and 2018 , respectively . taxes other than income was $ 18.7 million and $ 20.4 million for the year ended december 31 , 2019 and 2018 , respectively . on a per boe basis , taxes other than income were $ 2.02 and $ 2.10 for the year ended december 31 , 2019 and 2018 , respectively . the change in taxes other than income on a per boe basis was primarily due to a decrease in commodity prices . dd & a expense was $ 55.8 million and $ 52.3 million for the year ended december 31 , 2019 and 2018 , respectively . the change in dd & a expense was primarily due to the merger with midstates which closed on august 6 , 2019. impairment expense was $ 2.2 million for the year ended december 31 , 2019 related to certain unproved leasehold costs in oklahoma . this was primarily due to changes in development plans in the areas of alfalfa , major and woods counties in oklahoma . no impairment expense was recognized for the year ended december 31 , 2018. general and administrative expense was $ 55.3 million and $ 43.1 million for the year ended december 31 , 2019 and 2018 , respectively . general and administrative expense for the year ended december 31 , 2019 , includes $ 17.3 million related to acquisition expense and $ 7.3 million related to severance payments . the merger acquisition expenses are non-recurring and are not expected to impact future expenses . non-cash share/unit-based compensation expense was approximately $ 4.8 million and $ 4.2 million for the year ended december 31 , 2019 and 2018 , respectively . general and administrative expense for the year ended december 31 , 2018 , included $ 7.5 million in severance payments to certain legacy amplify departing executives . net losses on commodity derivative instruments of $ 6.7 million were recognized for the year ended december 31 , 2019 , consisting of $ 10.9 million decrease in the fair value of open positions offset by $ 4.2 million of cash settlements received on expired positions . net gains on commodity derivative instruments of $ 8.2 million were recognized for the year ended december 31 , 2018 , consisting of $ 10.1 million of cash settlements received on expired positions offset by a $ 1.9 million decrease in the fair value of open positions . given the volatility of commodity prices , it is not possible to predict future reported unrealized mark-to-market net gains or losses and the actual net gains or losses that will ultimately be realized upon settlement of the hedge positions in future years . if commodity prices at settlement are lower than the prices of the hedge positions , the hedges are expected to mitigate the otherwise negative effect on earnings of lower oil , natural gas and ngl prices . however , if commodity prices at settlement are higher than the prices of the hedge positions , the hedges are expected to dampen the otherwise positive effect on earnings of higher oil ,

