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.

Martyn Willsher, chief executive of Amplify Energy said Beta Offshore has had its production shut down and that any oil remaining in the pipeline was withdrawn.

The leak has forced the shutdown of Huntington Beach, about 40 miles south of Los Angeles, and scheduled activities in the region.

According to Reuters estimates that 3,000 barrels of oil had spread out into an oil slick covering approximately 13 miles in the Pacific Ocean, since Saturday’s first report.

Huntington Beach mayor Kim Carr called the spillage an “environmental disaster” and “potentially ecological catastrophe”.

This was caused by an oil leakage from the Elly oil well. It reached Newport Beach where sunbathers, surfers, and others love to hang out.

California Department of Fish and Wildlife issued a closure to fishery in coastal areas that were affected by the spillage.

According to the department, it will be closed from Huntington Beach to Dana Point in the coastal areas and up to six miles offshore for the offshore region.