Threatened with delisting from the New York Stock Exchange, Houston-based Nine Energy Service, Inc. has regained compliance with the exchange’s continued listing standards.
The company announced Thursday it had been notified April 21 of noncompliance because its average closing price of shares of common stock had fallen below $1 a share over a period of 30 consecutive trading days.
But Nine regained compliance this week after its average closing price for the 30-trading days ended May 29 was above the NYSE’s minimum requirement of the dollar a share average.
Nine Energy Service is active in Oklahoma’s STACK and SCOOP plays as well as in the Permian, Eagle Ford, Niobrara, Barnett, Bakken, Marcellus and Utica plays in the U.S.
Source: Business Wire