Debt-Laden Ultra Petroleum Warned by New York Stock Exchange







Some of the Oklahoma energy companies that were warned or removed from trading on the New York Stock Exchange because of their financial struggles aren’t alone. As the Houston Business Journal reported recently, Houston-based Ultra Petroleum Corp. has received a warning that is is no longer in compliance with New York Stock Exchange requirements that the average closing price of its common stock be at least $1 per share over a consecutive 30-trading-day period. It means the company has six months from the date of the March 15 notice to regain compliance.

Ultra indicated it will work to regain compliance. But the notification came shortly after Ultra revealed it is faced with heavy debt totaling $3.76 billion as of mid-February.