Amplify Energy Shares Tumble After California Oil Spill

- Advertisement -


The Houston-based company has closed its pipeline operations in the area as a precaution.

- Advertisement -

Houston-based oil and natural gas company, Amplify, said it has shut down all of its production and pipeline operations in the area as a precaution, adding that it has sent a remotely operated vehicle to investigate and confirm the source. have tried to do. of release.

- Advertisement -

Amplify shares recently fell 57% to $2.49 in premarket trading.

Amplify Energy chief executive Martin Wilsher said the company notified the Coast Guard about the leak on Saturday morning after line inspection workers noticed flashes in the water. The offshore platform receives oil from around 70 wells and then sends it to a local refinery.

- Advertisement -

Local health officials asked residents of the affected area to avoid walking, swimming or surfing near affected beaches and wetlands. He advised people to avoid touching any oil on the beaches or attempting to save any wildlife affected by the oil.

Colin Kellaher [email protected] . Feather

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox