Key Energy delisted on New York Stock Exchange

The New York Stock Exchange has suspended trading of Key Energy stock and delisted the stock after it failed to maintain an average market cap of at least $15 million over a consecutive 30 trading-day period.

Leaders of the Houston, Texas company with operations offices in El Reno, Oklahoma City and Hennessey say they will not appeal the decision. They expect trading to begin on the OTC Pink marketplace under the symbol KEGX.

“The transition to over-the-counter markets will not affect the Company’s business operations or its SEC reporting and does not conflict with or cause an event of default under any of Key’s material debt or other agreements,” according to the announcement made by KEY.

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