Amplify Energy Corp.
AMPY
Energy
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Amplify Energy is an upstream oil and gas company producing from mature assets in California, Oklahoma, and the Rockies. The company was responsible for the 2021 Huntington Beach oil spill from its Beta Offshore pipeline, releasing approximately 25,000 gallons into the Pacific.
Amplify Energy Corp. caused the October 2021 Huntington Beach oil spill, discharging approximately 25,000 gallons of crude oil into the Pacific Ocean from a ruptured subsea pipeline 4.7 miles off the Orange County coast. Amplify and two subsidiaries — Beta Operating Company and San Pedro Bay Pipeline Company — pled guilty to negligent discharge under the Clean Water Act after employees repeatedly overrode leak detection alarms and restarted pumping. The companies paid $7.1 million in federal criminal fines plus $5.8 million in federal response costs. California separately filed criminal charges resulting in $4.9 million in state penalties. A $50 million class-action settlement compensated affected fisheries ($34 million), coastal homeowners ($9 million), and tourism businesses ($7 million). The companies were placed on four years' federal probation with mandatory operational changes including a new leak-detection system.
Research Sources
2 organizations
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