{"id":690949,"date":"2022-10-01T19:49:38","date_gmt":"2022-10-01T23:49:38","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/amplify-energy-update-on-san-pedro-bay-pipeline-permit\/"},"modified":"2022-10-01T19:49:38","modified_gmt":"2022-10-01T23:49:38","slug":"amplify-energy-update-on-san-pedro-bay-pipeline-permit","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/amplify-energy-update-on-san-pedro-bay-pipeline-permit\/","title":{"rendered":"Amplify Energy Update on San Pedro Bay Pipeline Permit"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">HOUSTON, Oct.  01, 2022  (GLOBE NEWSWIRE) &#8212; Amplify Energy Corp. (\u201cAmplify\u201d or the \u201cCompany\u201d) (NYSE: AMPY) today announced that it has received the Nationwide Permit 12 from the U.S. Army Corps of Engineers to proceed with repair plans that were reviewed and approved by federal pipeline safety regulators earlier this year. This is the next phase of the Company\u2019s repair plan and includes removing the damaged segments of the pipeline from the ocean floor. By removing the damaged segments of the pipeline, regulators, the parties in the litigation and Amplify will be able to complete further analysis of the impact from the vessels dragging their anchors and striking the pipeline on January 25, 2021.<\/p>\n<p align=\"justify\">Following the removal of the pipe segments, new segments will be installed in accordance with the approved repair plans. The Company estimates the work will take approximately three to four weeks to complete after the repair barge is deployed.<\/p>\n<p align=\"justify\">After the pipeline is repaired, it will undergo a series of safety integrity tests as required by both federal pipeline safety regulations and the Oct. 5, 2021 PHMSA corrective action order. Thereafter, Amplify anticipates that PHMSA will review the pipeline restart plan. Once finalized, the Company will begin the process of bringing the Beta field back online, which is expected to occur in the first quarter of 2023.<\/p>\n<p align=\"justify\">Amplify Energy is committed to safely operating in a way that ensures the protection of the environment and the surrounding communities \u2013 communities where many of Amplify\u2019s employees live and raise their families.<\/p>\n<p align=\"justify\">\n        <strong>About Amplify Energy<\/strong>\n      <\/p>\n<p align=\"justify\">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\u2019s operations are focused in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas \/ North Louisiana, and the Eagle Ford. For more information, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=7iOpEEW5zCOfsPsh2-nNbj62lSXESvvTlSk8okjM8SirmHcayRZ6FqkWcPSiE4xJX6jgCgjEI57o-sDXwbsPiwJbr9L92PCTuHpDUDTeS4E=\" rel=\"nofollow noopener\" target=\"_blank\">www.amplifyenergy.com<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release includes \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Amplify expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as \u201cwill,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201cbelieve,\u201d \u201ctarget,\u201d \u201ccontinue,\u201d \u201cpotential,\u201d the negative of such terms or other comparable terminology are intended to identify forward-looking statements. Amplify believes that these statements are based on reasonable assumptions, but such assumptions may prove to be inaccurate. Such statements are also subject to a number of risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Amplify, which may cause Amplify\u2019s actual results to differ materially from those implied or expressed by the forward-looking statements. Please read the Company\u2019s filings with the Securities and Exchange Commission, including \u201cRisk Factors\u201d in its Annual Report on Form 10-K, and if applicable, its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and other public filings and press releases for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. All forward-looking statements speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Amplify undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.<\/p>\n<p align=\"justify\">\n        <strong>Investor Relations Contact<\/strong>\n      <\/p>\n<p align=\"justify\">Jason McGlynn \u2013 Chief Financial Officer<br \/>(832) 219-9055<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=po2UjldtJl2kxfIDVJ81o1lNZTpQPki3P9Ec38hNxFWT6XzaS3yqH2dAFRrF92g5SS4skB_jz4yZdXS3DKdCJtJEFbcLz3od8rp5kceBwS8JnzaxtJl55fTcwFUHE2dz\" rel=\"nofollow noopener\" target=\"_blank\">jason.mcglynn@amplifyenergy.com<\/a><\/p>\n<p align=\"justify\">\n        <strong>Media Contact<\/strong>\n      <\/p>\n<p>Amy Conway<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=f6eCSOSCobZOmmEtZw2R7tRRU0is970ATiMX-ucRyuIt0JTG3DY58zWqsJMDnPiu-EeHWy47XwqaUkysiQituWwRIDdyPa0Xss5rR4OnikUn7gnBGC2EzpFd-Vb5-5Y5\" rel=\"nofollow noopener\" target=\"_blank\">Amy.Brown@fticonsulting.com<\/a><\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODY1NzA5MyM1MTgyMzYwIzIwMDc4NDU=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MTAxMzU1NzYtMWQxZS00YjI3LWE3MDktMWFjMTliNGYzMjYwLTEwMTk0MTg=\/tiny\/Amplify-Energy-Corp-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>HOUSTON, Oct. 01, 2022 (GLOBE NEWSWIRE) &#8212; Amplify Energy Corp. (\u201cAmplify\u201d or the \u201cCompany\u201d) (NYSE: AMPY) today announced that it has received the Nationwide Permit 12 from the U.S. Army Corps of Engineers to proceed with repair plans that were reviewed and approved by federal pipeline safety regulators earlier this year. This is the next phase of the Company\u2019s repair plan and includes removing the damaged segments of the pipeline from the ocean floor. By removing the damaged segments of the pipeline, regulators, the parties in the litigation and Amplify will be able to complete further analysis of the impact from the vessels dragging their anchors and striking the pipeline on January 25, 2021. Following the removal of the pipe &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/amplify-energy-update-on-san-pedro-bay-pipeline-permit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Amplify Energy Update on San Pedro Bay Pipeline Permit&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-690949","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Amplify Energy Update on San Pedro Bay Pipeline Permit - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/amplify-energy-update-on-san-pedro-bay-pipeline-permit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amplify Energy Update on San Pedro Bay Pipeline Permit - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HOUSTON, Oct. 01, 2022 (GLOBE NEWSWIRE) &#8212; Amplify Energy Corp. (\u201cAmplify\u201d or the \u201cCompany\u201d) (NYSE: AMPY) today announced that it has received the Nationwide Permit 12 from the U.S. Army Corps of Engineers to proceed with repair plans that were reviewed and approved by federal pipeline safety regulators earlier this year. This is the next phase of the Company\u2019s repair plan and includes removing the damaged segments of the pipeline from the ocean floor. By removing the damaged segments of the pipeline, regulators, the parties in the litigation and Amplify will be able to complete further analysis of the impact from the vessels dragging their anchors and striking the pipeline on January 25, 2021. 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