Amplify Energy will pay $50 million to individuals and businesses that lost money last year when nearly 25,000 gallons of oil flowed into the ocean from of a ruptured pipeline about 4 miles off the coast of Huntington Beach, California, according to terms of a preliminary class action settlement filed late Monday, Oct. 17.
The deal calls for Amplify, which owns the pipeline, to compensate three specific groups – $34 million to people connected to the fishing industry, $9 million to homeowners and $7 million to area tour operators and others. In all, an estimated 10,000 people could be eligible for compensation, and it’s not yet known how much any individual or company will receive.
Though Amplify and attorneys for the plaintiffs have agreed to terms, the deal filed Monday is not final. An approval hearing is slated for Nov. 16 in federal court in Santa Ana.
