A $50 million settlement has been reached over last year’s massive oil spill off the coast of Huntington Beach, the Orange County Register is reporting.
The deal, which was described as a “reasonable and fair resolution” in a statement attributed to Amplify Energy CEO Martyn Wilsher, still needs to be finalized in federal court.
One of the companies pipelines ruptured in October of 2021, sending nearly 25,000 gallons of oil into the ocean.
The $50 million settlement includes $34 million for those in the fishing industry who were impacted by the spill. Another $9 million will be used for homeowners and $7 million for tourism-related companies, according to the Register.
In all, the newspaper estimates about 10,000 people will be eligible for compensation.
Amplify believes the leak was caused oil tankers dragging anchors over the pipeline during a storm several months earlier in 2021.
The storm came as an overflow of vessels were backed up outside the Los Angeles-Long Beach ports complex, which was experiencing huge shipping delays at the time.