Amplify energy reaches agreement with u.s. attorney's office to resolve matters associated with southern california pipeline incident

Houston, aug. 26, 2022 (globe newswire) -- amplify energy corp. (“amplify” or the “company”) (nyse: ampy) today announced that it has reached an agreement with the united states government, subject to court review and approval, to resolve all federal criminal matters involving the company and its subsidiaries stemming from the october 2021 southern california pipeline incident. as part of the resolution with the united states, amplify has agreed to plead guilty to one count of misdemeanor negligent discharge of oil in violation of the clean water act. if approved by the court, amplify will pay a fine of approximately $7.1 million in installments over a period of three years, serve a term of four years' probation and reimburse governmental agencies approximately $5.8 million for their response to this event. amplify also has agreed to implement certain compliance measures including installation of a new leak detection system and increased remote operated vehicle inspections of the pipeline.
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