12:41 PM EDT, 03/11/2024 (MT Newswires) -- Amplify Energy ( AMPY ) shares climbed 13% in recent Monday trading after the US Coast Guard said it currently believes that the oil sheen off Huntington Beach, California, and the discharge of produced water from Platform Elly are not related.

"For clarification, reports that Platform Elly reported a discharge of produced water on the morning of March 8 are correct," the Coast Guard said on Sunday. "Still, the characteristics of the produced water... do not align with what was observed from the sheen."

Amplify said it continues to cooperate with the authorities, adding that it remains confident that the sheen is unrelated to its operations.

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