GlobeNewswire Inc | Oct 4, 2021 01:01AM EDT

October 04, 2021

HOUSTON, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (Amplify, Amplify Energy or the Company) announced today that on Saturday, October 2, 2021, Beta Offshore (a subsidiary of Amplify Energy) first observed and notified the US Coast Guard of an oil sheen approximately four (4) miles off the coast in Southern California and initiated its Oil Spill Prevention and Response Plan.

The Company has sent a remotely operated vehicle (ROV) to investigate and attempt to confirm source of the release.

As a precautionary measure, all of the Companys production and pipeline operations at the Beta Field have been shut down.

Amplify Energy is a fully engaged member of and working cooperatively with the unified command, consisting of the Coast Guard, California Department of Fish and Wildlifes Office of Spill Prevention and Response (CDFW-OSPR).

Media inquiries can be directed tonewportbeachoilspill2021@gmail.com.

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. Amplifys operations are focused in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas / North Louisiana, and the Eagle Ford. For more information, visit www.amplifyenergy.com.

Forward-Looking Statements

This press release includes forward-looking statements 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 will, would, should, could, expect, anticipate, plan, project, intend, estimate, believe, target, continue, potential, 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 Amplifys actual results to differ materially from those implied or expressed by the forward-looking statements. Please read the Companys filings with the Securities and Exchange Commission, including Risk Factors 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.

Contacts

Jason McGlynn Chief Financial Officer(832) 219-9055jason.mcglynn@amplifyenergy.com