A CNX Resources Corp. affiliate has agreed to pay a $433,500 fine to the Pennsylvania Department of Environmental Protection (DEP) for several violations at well sites in Greene County. CNX Gas Co. LLC was cited for failing to, among other things, properly control flowback and drilling fluids, maintain containment during hydraulic fracturing activities, and unauthorized discharge of industrial waste into state waters. The penalties come after a long-term investigation by DEP. The well sites have since been remediated.
Jones Energy Inc.received notification on Dec. 26 from the New York Stock Exchange (NYSE) that it is noncompliant with continued listing standards because the common stock over 30 consecutive trading days fell below $1.00/share, the minimum average closing price required to maintain a listing. The Austin, TX-based operator, which focuses on the Anadarko Basin, has six months to regain compliance, and it notified the NYSE that it intends to propose a reverse stock split. During the cure period, Jones stock would continue to be listed as long as it remains compliant with other standards. The notice does not affect ongoing business operations.