Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Amplify Energy to pay $5 million to settle criminal charges over California oil spill By Reuters

by Index Investing News
September 8, 2022
in Stocks
Reading Time: 2 mins read
A A
0
Home Stocks
Share on FacebookShare on Twitter


2/2
© Reuters. FILE PHOTO: Clean-up crews work to mitigate the damage in an ecological estuary after a major oil spill off the off the coast of California came ashore in Huntington Beach, California, U.S., October 4, 2021. REUTERS/Mike Blake/File Photo

2/2

(Corrects to show company entered a no contest plea, not a plea of guilty, in first paragraph)

(Reuters) -California officials on Thursday said Amplify Energy (NYSE:) Corp agreed to plead no contest to six criminal charges and pay nearly $5 million in penalties and fines in connection with a spill last year that killed birds and fouled beaches.

The announcement was the latest legal effort to hold the Texas-based oil company accountable for a subsea pipeline leak that released some 558 barrels (25,000 gallons) of crude oil into the Pacific Ocean off the coast of Huntington Beach in southern California in October of last year.

At a news conference broadcast live on the internet, California Attorney General Rob Bonta and Orange County District Attorney Todd Spitzer said the company had repeatedly turned off and on the 17-mile-long pipeline when it was alerted to the leak.

“Amplify unequivocally hit the snooze button,” Spitzer said. “Over and over they kept ignoring it. That is criminal. And that is why they have been charged.”

Months before the spill, high winds caused two ships to drag their anchors across the sea floor, bending and moving the pipeline and eventually causing its cement casing to crack, the state said.

As part of the agreement, Amplify will plead no contest to charges for failing to report an oil spill into state waters, polluting water and killing protected wildlife.

It will pay $3.45 million to the state and $1.45 million to Orange County.

Amplify Chief Executive Martyn Willsher said in a statement that the company was committed to operating safely.

“This resolution with the State of California, which follows Amplify’s plea agreement with the U.S. Attorney’s office, further reflects the commitments we made immediately following the incident to the communities and environment impacted by the release,” he said.

The plea agreement also requires the company to train employees on oil spill notification, install an improved leak detection system and conduct biannual visual inspections of its pipeline.

Last month, Amplify agreed to plead guilty to federal criminal negligence charges and pay nearly $13 million for the spill.



Source link

Tags: AmplifyCaliforniachargesCriminalEnergymillionOilPayReuterssettlespill
ShareTweetShareShare
Previous Post

More Plaintiffs Join $258 Billion Dogecoin Lawsuit Against Elon Musk

Next Post

Inflation’s Toll on Your Credit; Why a Broker Shouldn’t Text You

Related Posts

LRGF: Low-Charge Issue ETF With Convincing Efficiency Is A Purchase (NYSEARCA:LRGF)

LRGF: Low-Charge Issue ETF With Convincing Efficiency Is A Purchase (NYSEARCA:LRGF)

by Index Investing News
May 25, 2025
0

This text was written byObserveVasily Zyryanov is a person investor and author.He makes use of numerous methods to seek out...

TreeHouse Meals: Effectivity Beneficial properties Priced In, Truthful Valuation Helps Maintain (NYSE:THS)

TreeHouse Meals: Effectivity Beneficial properties Priced In, Truthful Valuation Helps Maintain (NYSE:THS)

by Index Investing News
May 24, 2025
0

This text was written byObserveI'm an enthusiastic fairness analysis and funding analyst with a powerful curiosity in making use of...

Seagate Know-how Holdings plc (STX) Seagate 2025 Investor and Analyst Convention – (Transcript)

Seagate Know-how Holdings plc (STX) Seagate 2025 Investor and Analyst Convention – (Transcript)

by Index Investing News
May 23, 2025
0

Seagate Know-how Holdings plc (NASDAQ:STX) Seagate 2025 Investor and Analyst Convention Name Could 22, 2025 9:00 AM ET Firm Members...

2 BDCs That Qualify For The Retirement Earnings League

2 BDCs That Qualify For The Retirement Earnings League

by Index Investing News
May 23, 2025
0

This text was written byObserveRoberts Berzins has over a decade of expertise within the monetary administration serving to top-tier corporates...

Booz Allen Hamilton Holding Company 2025 This fall – Outcomes – Earnings Name Presentation (NYSE:BAH)

Booz Allen Hamilton Holding Company 2025 This fall – Outcomes – Earnings Name Presentation (NYSE:BAH)

by Index Investing News
May 23, 2025
0

This text was written byObserveSearching for Alpha's transcripts staff is liable for the event of all of our transcript-related initiatives....

Next Post
Inflation’s Toll on Your Credit; Why a Broker Shouldn’t Text You

Inflation’s Toll on Your Credit; Why a Broker Shouldn’t Text You

Why monarchy-rejecting America mourns Queen Elizabeth, too

Why monarchy-rejecting America mourns Queen Elizabeth, too

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Portfolio Diversification: More durable Than It Used to Be?

Portfolio Diversification: More durable Than It Used to Be?

April 12, 2022
When Russia Threatens Nuclear Struggle, Consider It

When Russia Threatens Nuclear Struggle, Consider It

April 29, 2022
Chicago Bears trade No. 1 pick to Carolina Panthers

Chicago Bears trade No. 1 pick to Carolina Panthers

March 10, 2023
Which Dealer Is Proper for You?

Which Dealer Is Proper for You?

April 22, 2022
5 Altcoins to Watch in 2023: Emerging Trends in the Crypto Space | by BSuccessful | The Capital | Feb, 2023

5 Altcoins to Watch in 2023: Emerging Trends in the Crypto Space | by BSuccessful | The Capital | Feb, 2023

February 7, 2023
Intuitive Machines slumps as moon lander likely has 10-20 hours of battery life left By Reuters

Intuitive Machines slumps as moon lander likely has 10-20 hours of battery life left By Reuters

February 27, 2024
Is Your Dream Day Worth Going Into Debt?

Is Your Dream Day Worth Going Into Debt?

August 2, 2023
RBI MPC Meet: Will RBI to keep repo rate unchanged at 6.50%? 5 points to note

RBI MPC Meet: Will RBI to keep repo rate unchanged at 6.50%? 5 points to note

April 5, 2024
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In