Amplify Energy Update on Southern California Oil Sheen

Amplify Energy Corp.

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:

1. Amplify remains confident that the sheen is not related to our operations.

2. While Amplify reported a minor discharge of produced water from Platform Elly that occurred on the morning of March 8^th, 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.”

3. Amplify’s Beta field operations and development program have not been disrupted.
   

We continue to cooperate with the Unified Command, U.S. Coast Guard and other relevant authorities and provide support in any way we can.

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.

Investor Relations Contacts

Jim Frew -- SVP & Chief Financial Officer
(832) 219-9044
jim.frew@amplifyenergy.com

Michael Jordan -- Director, Finance and Treasurer
(832) 219-9051
michael.jordan@amplifyenergy.com