Business
The Beach Energy (ASX:BPT) share price has imploded, down 22% – The Motley Fool Australia
The Beach Energy Ltd (ASX: BPT) share price has imploded today after the company downgraded future production and lowered its FY21 guidance.
Checked the market this morning? Then you have probably noticed the $900 million elephant in the room. That’s roughly how much has been erased from the market capitalisation of Beach Energy Ltd(ASX: BPT) as the share price suffers a devastating fall.
At the time of writing, shares in the oil and gas producer are 22.02% lower at $1.31.
What’s dismantling the Beach Energy share price?
Declining production
The substantial decline in the Beach Energy share price comes after the company provided its…
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