Amplify Energy Tumbles as California Oil Spill Shuts Production, Pipeline By Investing.com – Investing.com

Amplify Energy Tumbles as California Oil Spill Shuts Production, Pipeline By Investing.com – Investing.com

By Dhirendra Tripathi

Investing.com – Amplify Energy stock (NYSE:) plunged 62% in Monday’s premarket trading after a large spill from an oil platform operated by a subsidiary was found off the southern California coast.

Amplify Energy Chief Executive Martyn Willsher said Beta Offshore's production has been shut off and any remaining oil in the pipeline suctioned off.