Amplify’s Shares Rise on Southern California Oil Sheen Update
    Amplify’s Shares Rise on Southern California Oil Sheen Update
    PRISM View

    March 12, 2024 - by Editor Prism MarketView

    Amplify’s Shares Rise on Southern California Oil Sheen Update

    12 March 2024

    New York, March 12, 2023 - PRISM MarketView - Shares in Amplify Energy (NYSE: AMPY) rose nearly 20% in intraday trading on Monday after the company made two separate statements concerning an oil sheen that had appeared off the coast of Huntington Beach. Amplify said it was cooperating with the US Coast Guard in its investigations, and later announced it was “confident that the sheen is not related to our operations.” 

    Amplify Energy Corp. - Prism MarketView

    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas pr

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    Amplify Energy Update on Southern California Oil Sheen

    Amplify Energy Update on Southern California Oil Sheen

    HOUSTON, March 11, 2024 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (“Amplify,” the “Company,” “us,” “we,” or “our”) (NYSE: AMPY) continues to monitor the status of the oil sheen reported on March 7, 2024, off the coast of Huntington Beach, California. Amplify has the following updates to report: Amplify remains confident that the sheen is not related to our operations.While Amplify reported a minor discharge of produced water from Platform Elly that occurred on the morning of March 8th, U.S. Coast

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    Amplify stated that while it had reported a minor discharge of produced water from Platform Elly on the morning of March 8, U.S. Coast Guard/Unified Command reported over the weekend that, “the characteristics of the produced water from Platform Elly do not align with what was observed from the sheen. Currently, we do not believe the sheen and the discharge are related.” The Coast Guard also noted that offshore recovery assets would be demobilized following a March 10th overflight that “did not observe any sheen offshore.”

    UPDATE 3: Unified Command continues response to sheen offshore of Huntington Beach > United States Coast Guard News > Press Releases

    SAN PEDRO, Calif. – Unified Command continues to oversee the response to an oil sheen observed offshore of Huntington Beach.An overflight conducted this morning did not observe any sheen offshore. As

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    In recent years, California’s coastal waters have been grappling with oil sheen, which is a visible indicator of petroleum pollution that can result from sources, including offshore drilling, shipwrecks, or leaks from coastal infrastructure. The presence of oil sheens not only poses significant ecological threats to marine life and habitats but also jeopardizes the state’s vital tourism and fishing industries.
    Amplify also stated that its Beta field operations and development program had not been disrupted.
    About Amplify Energy
    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com.
    About PRISM MarketView:
    Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at prismmarketview.com and follow us on Twitter.
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