Legal & controls
Item 3 and Item 9A as filed · every verdict is the registrant’s own sentence, printed below it · a filing that fails an extraction gate reads “not extracted”
| Fiscal year | Filed | Item 3 | ICFR | disclosure controls | material weakness | Filing |
|---|---|---|---|---|---|---|
| 2025-12-31 | 2026-03-09 | in the notes | NOT effective | NOT effective | disclosed | EDGAR |
Item 3 · We are and may be, from time to time, party to various legal proceedings, government investigations and environmental proceedings. In addition, from time to time, we receive communications from government or regulatory agencies concerning investigations or allegations of noncompliance with laws or regulations in jurisdictions in which we operate. Information pertaining to legal proceedings is described in Note 17, “Commitments and Contingencies — Litigation and Environmental” of the Notes to Consolidated Financial Statements included under “Item 8. Financial Statements and Supplementary Data” of this Annual Report, which is incorporated herein by reference. Item 9A · ICFR · Based on this assessment, because of the effect of the material weakness described below, the Company’s management concluded that the Company’s internal control over financial reporting was not effective as of December 31, 2025, based on the criteria set forth under the COSO Framework. Item 9A · disclosure controls · Based upon this evaluation the principal executive officer and principal financial officer of the Company have concluded that, because of the effect of the material weakness described below, our disclosure controls and procedures were not effective as of December 31, 2025. | ||||||
| 2024-12-31 | 2025-03-05 | described here | effective | effective | none in Item 9A | EDGAR |
Item 3 · As part of our normal business activities, we may be named as defendants in other litigation and legal proceedings, including those arising from regulatory and environmental matters. If we determine that a negative outcome is probable and the amount of loss is reasonably estimable, we accrue the estimated amount. We are not aware of any litigation, pending or threatened, that we believe will have a material adverse effect on our financial position, results of operations or cash flows outside of what has been disclosed for the Incident. The Company accrued $1.1 million at December 31, 2024, in regard to our litigation and legal proceedings related to the Incident. For additional information regarding legal proceedings, see Note 18, “Commitments and Contingencies — Litigation and Environmental” of the Notes to Consolidated Financial Statements included under “Item 8. Financial Statements and Supplementary Data” of this Annual Report and “Part II – Item 1A. Risk Factors — Risks Related to our Business — We may be subject to increased permitting obligations and regulatory scrutiny as a result of the Incident” which are incorporated herein by reference. Item 9A · ICFR · Based on this assessment, the Company’s management, including its principal executive and financial officers, concluded that the Company’s internal control over financial reporting was effective as of December 31, 2024, based on the criteria set forth under the COSO Framework. Item 9A · disclosure controls · Based upon this evaluation, the principal executive officer and principal financial officer of the Company have concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of December 31, 2024. | ||||||
| 2023-12-31 | 2024-03-07 | described here | effective | effective | none in Item 9A | EDGAR |
Item 3 · As part of our normal business activities, we may be named as defendants in other litigation and legal proceedings, including those arising from regulatory and environmental matters. If we determine that a negative outcome is probable and the amount of loss is reasonably estimable, we accrue the estimated amount. We are not aware of any other litigation, pending or threatened, that we believe will have a material adverse effect on our financial position, results of operations or cash flows. The Company accrued $3.1 million at December 31, 2023, in regard to our litigation and legal proceedings. For additional information regarding legal proceedings, see Note 16, “Commitments and Contingencies — Litigation and Environmental” of the Notes to Consolidated Financial Statements included under “Item 8. Financial Statements and Supplementary Data” of this Annual Report and “Part II – Item 1A. Risk Factors — Risks Related to the Beta Pipeline Incident” which are incorporated herein by reference. Item 9A · ICFR · Based on this assessment, the Company’s management, including its principal executive and financial officers, concluded that the Company’s internal control over financial reporting was effective as of December 31, 2023, based on the criteria set forth under the COSO Framework. Item 9A · disclosure controls · Based upon this evaluation, the principal executive officer and principal financial officer of the Company have concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of December 31, 2023. | ||||||
| 2022-12-31 | 2023-03-09 | described here | effective | effective | none in Item 9A | EDGAR |
Item 3 · As part of our normal business activities, we may be named as defendants in other litigation and legal proceedings, including those arising from regulatory and environmental matters. If we determine that a negative outcome is probable and the amount of loss is reasonably estimable, we accrue the estimated amount. We are not aware of any other litigation, pending or threatened, that we believe will have a material adverse effect on our financial position, results of operations or cash flows. The Company accrued $8.0 million at December 31, 2022, in regard to our litigation and legal proceedings. For additional information regarding legal proceedings, see Note 16, “Commitments and Contingencies — Litigation and Environmental” of the Notes to Consolidated Financial Statements included under “Item 8. Financial Statements and Supplementary Data” of this Annual Report and “Part II – Item 1A. Risk Factors — Risks Related to the Southern California Pipeline Incident” which are incorporated herein by reference. Item 9A · ICFR · Based on this assessment, the Company’s management, including its principal executive and financial officers, concluded that the Company’s internal control over financial reporting was effective as of December 31, 2022, based on the criteria set forth under the COSO Framework. Item 9A · disclosure controls · Based upon this evaluation, the principal executive officer and principal financial officer of the Company have concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of December 31, 2022. | ||||||
| 2021-12-31 | 2022-03-09 | described here | effective | effective | none in Item 9A | EDGAR |
Item 3 · Proceedings and Investigations relating to the Southern California Pipeline Incident Amplify Energy Corp., Beta Operating Company, LLC d/b/a Beta Offshore, and San Pedro Bay Pipeline Company have been named as defendants in approximately 14 putative class action lawsuits related to the Incident and filed in the United States District Court for the Central District of California. On December 20, 2021 the putative class actions were consolidated into a single consolidated action in the United States District Court for the Central District of California. In the consolidated action, Plaintiffs filed an amended class action complaint on January 28, 2022. The amended complaint asserts claims against us for (1) Violations of the Lempert-Keene-Seastrand Oil Spill Prevention and Response Act, Gov. Code §8670, et seq.; (2) Lost Profits and Earning Capacity Damages (Federal Oil Pollution Act of 1990, §§ 1002, 1006); (3) Strict Liability for Ultrahazardous Activities; (4) Negligence; (5) Public Nuisance; (6) Negligent Interference with Prospective Economic Advantage; (7) Trespass; (8) Continuing Private Nuisance; and (9) Violations of California’s Unfair Competition Law (Cal. Bus. & Prof.Code… Item 9A · ICFR · Based on this assessment, the Company’s management, including its principal executive and financial officers, concluded that the Company’s internal control over financial reporting was effective as of December 31, 2021 based on the criteria set forth under the COSO Framework. Item 9A · disclosure controls · Based upon this evaluation, the principal executive officer and principal financial officer of the Company have concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of December 31, 2021. | ||||||
5 of 5 annual reports on record have their filing text cached on this host; the rest are listed with their EDGAR link and no extraction, because this surface never fetches from SEC on a page load.
- Item 3 and Item 9A are located in the filing HTML already cached on this host and read with the same line-anchored item matcher and largest-gap body disambiguation the filing-narrative pass uses for Item 1A and Item 7 — no fetch, no model, no summarization.
- A heading is accepted as a section only when it is not a table-of-contents row (a trailing page number), not a quoted reference in prose, and names its own section; the span must then clear a per-item length band and carry readable text after the heading. Anything that fails a gate is served as 'not extracted' with the reason — never as a default value.
- An effectiveness conclusion is read only from a sentence that names its own control set (disclosure controls and procedures, or internal control over financial reporting) and states an outcome. Conditional sentences — the standard limitations paragraph and forward-looking remediation language — are excluded, because they are hypotheses rather than conclusions.
- When a filing's own sentences disagree — an effective conclusion beside an unremediated material-weakness disclosure, or two conclusions of opposite sign — no verdict is asserted. A wrong 'controls were effective' reading is worse than no reading.
- Every verdict is shown beside the verbatim sentence it was read from. The excerpt is the filing's own words, capped at 1,200 characters; the filing itself is one link away.