The New York Stock Exchange(NYSE) has accepted Goodrich Petroleum Corp.'s plan for continued listing on the exchange, subject to quarterly reviews. Goodrich was told in late August that it was below the NYSE continued listing criteria of (1) average global market capitalization or total stockholders' equity over a consecutive 30 trading-day period of at least $50 million; and (2) average closing price of its common stock of at least $1.00 over a consecutive 30 trading-day period. The company has 18 months from the original notification date to regain compliance with the market capitalization or stockholder's equity listing standard. It has six months from the original notification date to regain compliance with the $1.00 price listing standard. Goodrich operates in the Haynesville, Eagle Ford and Tuscaloosa Marine shales.
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