Amplify Energy (NYSE:AMPY) said Thursday it reached a deal with the State of California to resolve all criminal matters related to a crude oil spill last year off the southern California coast.
AMPY will enter a No Contest plea to six misdemeanor charges.
If approved by the court, AMPY will pay a $4.9M fine to the California govt., including the state's Fish and Game Preservation Fund, and Orange County.
AMPY will also serve one-year probation and agreed to certain compliance enhancements to its operations.
AMPY had also reached a settlement with Southern California businesses in a class action lawsuit.
The spill in Oct. 2021 released ~25K gallons of crude oil into the Pacific Ocean, forcing closure of beaches and fisheries and threatening area wetlands.