Amplify Energy Reaches Settlement Terms in Southern California Pipeline Civil Litigation
(P&GJ) — Amplify Energy Corp. has reached an agreement in principle with plaintiffs in the class action to resolve all civil claims against Amplify and its subsidiaries, the company said in a statement.
After a pipeline ruptured off the coast of California in October, spilling an estimated 25,000 gallons of oil, Amplify and its two subsidiaries, Beta Operating Co. and San Pedro Bay Pipeline Co., were charged with criminal negligence in December 2021.
Amplify filed a complaint in February 2022 against two shipping companies that it claims collided with the pipeline, contributing to the spill, as well as the Marine Exchange of Southern California for failing to notify the company.
“We are pleased to have reached an agreement in principle regarding the civil litigation resulting from the Southern California Pipeline Incident last October,” Martyn Willsher, Amplify’s president and CEO, said. “Although we are unable to provide additional detail at this time, we negotiated in good faith and believe we have come to a reasonable and fair resolution. We will continue to vigorously pursue our substantial claims for damages against the ships that struck our pipeline, and the Marine Exchange of Southern California that failed to notify us of the anchor strikes.”
The settlement will be funded under the company’s insurance policies, and the final agreement will be subject to court approval.
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