AMPY - Amplify Energy to pay $13M to settle charges over California oil spill

Amplify Energy ( NYSE: AMPY ) said on Friday it agreed to plead guilty to the misdemeanor negligent discharge of oil in violation of the Clean Water Act and pay nearly $13M in fines for a crude oil spill last year off the southern California coast.

In the settlement with the U.S. government, which is subject to court approval, Amplify ( AMPY ) agreed to pay a $7.1M fine over three years, serve four years' probation and reimburse governmental agencies $5.8M for their response to the spill.

The company also will install a new leak detection system and increase the frequency of remote operated vehicle inspections of the pipeline, among other compliance measures.

The October 2021 spill released 558 barrels (25K gallons) of crude oil into the Pacific Ocean, forcing the closure of beaches south of Los Angeles and threatening area wetlands.

Amplify Energy ( AMPY ) said earlier this week it reached an agreement in principle with plaintiffs to resolve civil claims .

For further details see: