The Vincent Thomas Bridge connecting Long Beach and San Pedro, California. (Source: Shutterstock)
Amplify Energy Corp. received approval from federal regulatory agencies to restart operations offshore California at the Beta Field, the company announced on April 10.
The process of filling the San Pedro Bay Pipeline to resume operations has already begun and is expected to take two weeks to complete.
The pipeline will operate in accordance with restart procedures approved by the Pipeline and Hazardous Materials Safety Administration.
Last month, Amplify Energy reached a $96.5 million settlement with shipping companies M/V Danit and M/V Beijing over claims the anchors of container ships damaged the San Pedro Bay Pipeline, leading to an oil spill in October 2021.
RELATED
Amplify Reaches $96.5 Million Settlement Over Pipeline Damages
“The approval from federal regulatory agencies and the receipt of $85 million in net proceeds from the vessels that struck and damaged our pipeline substantially concludes a very challenging last 18 months for the company,” Martyn Willsher, Amplify president and CEO, said. “We are eager to focus our attention on safely operating our Beta assets, our business as a whole and the strategic direction of the company.”
Amplify Energy is an independent oil and natural gas company with operations in Oklahoma, Texas, Louisiana, the Rockies and offshore California.
Recommended Reading
Murphy Shares Drop on 4Q Miss, but ’25 Plans Show Promise
2025-02-02 - Murphy Oil’s fourth-quarter 2024 output missed analysts’ expectations, but analysts see upside with a robust Eagle Ford Shale drilling program and the international E&P’s discovery offshore Vietnam.
Hess Corp. Bucks E&P Trend, Grows Bakken Production by 7%
2025-01-29 - Hess Corp. “continues to make the most of its independent status,” delivering earnings driven by higher crude production and lower operating costs, an analyst said.
Phillips 66’s NGL Focus, Midstream Acquisitions Pay Off in 2024
2025-02-04 - Phillips 66 reported record volumes for 2024 as it advances a wellhead-to-market strategy within its midstream business.
Chevron Targets Up to $8B in Free Cash Flow Growth Next Year, CEO Says
2025-01-08 - The No. 2 U.S. oil producer expects results to benefit from the start of new or expanded oil production projects in Kazakhstan, U.S. shale and the offshore U.S. Gulf of Mexico.
Artificial Lift Firm Flowco Seeks ~$2B Valuation with IPO
2025-01-07 - U.S. artificial lift services provider Flowco Holdings is planning an IPO that could value the company at about $2 billion, according to regulatory filings.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.