Amplify Energy Corp (AMPY)

[downthehatch]

Amplify Energy restarts operations at Beta field offshore California
World Oil Staff April 10, 2023
(WO) —Amplify Energy Corp. has received the required approvals from federal regulatory agencies to restart operations at the Beta field offshore California. Initial steps to resume full operations will involve filling the San Pedro Bay pipeline with production, a process which began over the past weekend and is expected to take approximately two weeks to complete.

Following the line fill process, the pipeline will be operated in accordance with the restart procedures that were reviewed and approved by the Pipeline and Hazardous Materials Safety Administration (PHMSA).

Martyn Willsher, Amplify’s President and Chief Executive Officer, commented, “Safety has driven every aspect of our response, repair and restart operations, and safety will continue to guide our operating philosophy as we bring the Beta asset back online. 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, and 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.