Benzinga | Oct 4, 2021 10:00AM EDT

Why Amplify Energy Shares Are Getting Hammered Today

Amplify Energy Corp. (NYSE:AMPY) shares are trading lower following a southern California ocean oil spill from a rig operated by Amplify Energy.

The company has sent a remotely operated vehicle to investigate and attempt to confirm source of the release.

As a precautionary measure, all of the company's production and pipeline operations at the Beta Field have been shut down.

Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties.

Amplify Energy's stock was trading about 47.8% lower at $3.00 on Monday at the time of publication. The stock has a 52-week high of $5.78 and a 52-week low of $0.62.