Amplify Energy to Begin Production at California Oil Field Next Month

U.S.-headquartered oil and gas company Amplify Energy expects its well at an oil field off the coast of California to start producing next month.

Amplify Energy is on a mission to simplify its portfolio, aiming to become more oil-weighted, reduce debt, lower operating costs, and streamline the organization. As part of this effort, the company is conducting a drilling campaign at the C-08 well off the Eureka platform at its Beta field, with production scheduled to commence in August. Amplify believes that potential asset monetization will pave the way for accelerated development of the Beta program in the future.

The company has already brought four wells online, with three of them coming online in 2024: A-50 in June, C-59 in October, C-54 in mid-April, and C-48 in mid-February 2025. According to Amplify’s May 2025 investor presentation, these four wells led to a 35% increase in Beta oil production.

As of December 31, 2024, the Beta properties were estimated to contain 19.1 million barrels (MMBbls) of estimated net proved oil reserves.

Chris Hamm, Chairman of Amplify’s Board, stated: “Amplify is pursuing multiple paths to enhance shareholder value. We are taking steps to not only simplify the portfolio, but also the organization. By focusing on our low decline, oil-weighted assets with significant drilling and optimization upside, we believe we can generate outstanding returns for our investors.”

Infrastructure at Beta Properties

The Beta properties consist of two wellbore production platforms, Eureka and Ellen, as well as one production handling and processing platform, Elly. Additionally, the San Pedro Bay Pipeline Company owns and operates an oil pipeline connecting one of the Beta platforms to the pump station situated onshore at the Port of Long Beach, along with an onshore tankage and metering facility.

Management Changes and Resumption of Operations

Beta was the site of a significant oil spill in 2021, resulting in approximately 25,000 gallons of crude oil being released into federal waters from the Elly platform’s pipeline. After receiving approval, Amplify Energy resumed operations in April 2023.

Aside from exploration activities, the company has undergone management changes, with Martyn Willsher resigning from his position as President and Chief Executive Officer (CEO) effective July 22, 2025. He will be succeeded by Dan Furbee, who previously served as the company’s Senior Vice President and Chief Operating Officer (COO).