A Year Later: BP Down $49 Billion in Market Cap
A year later after the massive oil leak in the Gulf of Mexico, BP shares are down 26 percent, but have gained 65 percent from their lowest level last year.
In the first 100 days of BP's Deepwater Horizon oil rig explosion, the company's market cap value plummeted $70.3 billion, or about 59 percent.
While BP and the federal government struggled to stop the estimated 35,000 to 60,000 barrels of oil discharged into the gulf each day, the company's shares hit their lowest level in 14 years, closing at $27.02 on June 25. At that point, the market cap loss of BP stood at $104.7 billion, or about 124 percent of the company's value before the explosion.
Since their lowest point last year, BP shares are up 65 percent, but still down 26 percent from where they closed on the day the spill began.
Even though BP successfully lowered a containment cap over the leaking well on July 15, replaced CEO Tony Hayward with a new chief executive Bob Dudley, and set aside about $41 billion for costs related to the spill, the repercussions of the greatest environmental disaster in American history continue to be felt by the communities affected.
According to a recent analysis by Moody's, a rating agency, the final cost of BP's oil spill could reach $60 billion.
The table below depicts how BP shares, and other companies impacted by the spill, have performed since that tragic day on April 20:
Source: CNBC Analytics and Thomson Reuters
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