The New York Stock Exchange(NYSE) has moved forward with proceedings to delist Atlas Energy Group LLC(ATLS). NYSE also suspended trading of the company’s common units on Friday. The move comes nearly three months after NYSE first notified the company that its market capitalization and stockholder equity had fallen below the $50 million minimum over a consecutive 30-day trading period (see Shale Daily,Dec. 31, 2015). While Atlas said it is “considering what actions, if any, it may take in response to the decision,” its units started trading on the over-the-counter market OTCQX on Monday. ATLS owns all of the general partner interest, distribution rights and a 23% limited partner interest in upstream subsidiary Atlas Resource Partners LP (ARP). ARP, a separately traded company with producing wells and reserves in 17 states that include assets in the Barnett, Eagle Ford, Marcellus and Utica shales, is not affected by the ATLS delisting. ARP’s stock, which is traded on the NYSE, has performed poorly, however, with a 52-week low of 56 cents/share.
Nyse
Articles from Nyse
Goodrich Dropped from NYSE; Atlas MLPs Below Listing Standard
Trading in Houston’s Goodrich Petroleum Corp. common stock was suspended Wednesday by the New York Stock Exchange (NYSE) and a delisting process has begun for the onshore producer.
Atlas Energy Group Faces NYSE Delisting as Value Plummets
Philadelphia-based Atlas Energy Group LLC (ATLS), which owns all of the general partner interest, distribution rights and a 23% limited partner interest in its upstream subsidiary, Atlas Resource Partners LP (ARP), has fallen below the New York Stock Exchange’s (NYSE) continued listing standards.
Brief — Goodrich Petroleum
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.
SandRidge Share Price Falls Below NYSE Listing Requirement
SandRidge Energy Inc., which mostly explores for oil and natural gas in the Midcontinent, said Monday afternoon its stock price had fallen below the continued listing requirement of the New York Stock Exchange (NYSE).
NRG Makes Gains In First Week on NYSE
NRG Energy Inc. pulled off a respectable first three days on theNew York Stock Exchange, as the independent power subsidiary ofNorthern States Power saw its initial public offering (IPO) closewell above its set price of $15 when the markets closed lastFriday. NRG opened at $15.88 on Wednesday, and closed on Friday at$17 1/4 on a volume of 913,000 shares.
NRG Makes Gains in First Day on NYSE
NRG Energy Inc.pulled off a respectable first day on the New York Stock Exchange, asthe independent power subsidiary of Northern States Power saw itsinitial public offering (IPO) close well above its set price of$15. NRG opened at $15.88 and closed the day at $16.63 on a volume of8.1 million shares.
