Not only was SandRidge Energy Inc.’s SandRidge Mississippian Trust 1 delisted from the New York Stock Exchange as OK Energy Today reported this week. So was the Oklahoma City-based company’s SandRidge Mississippian Trust II removed from trading.
It leaves only one other SandRidge Trust still traded on the exchange. The SandRidge Permian Trust has not encountered New York Stock Exchange prices that resulted in any delisting warning. The trading of Trusts I and II was suspended this month according to filings with the Securities and Exchange Commission.
The suspension came after stock in the two trusts fell below $1 for 30-day periods that ended last May and the company was unable to shore up trading within a 180-day window.
Both of the suspended trusts now trade on the OTC Pink Market under the symbols SDTTU and SDRMU.
Both trusts hold SandRidge’s royalty interests in Mississippi. Trust I held its initial public offering in 2011, while Trust II followed it a year later, according to their respective annual reports.