A coal company headquartered in Wyoming’s Powder River Basin is facing a delisting of its stock on the New York Stock Exchange.
The Exchange informed management at Cloud Peak Energy Inc. the delisting is the result of the determination that Cloud Peak’s common stock was no longer suitable for listing based on “abnormally low” price levels.
The NYSe also suspended trading in the company’s common stock effective immediately. Cloud Peak said it would not appeal the delisting determination as the NYSE plans to apply to the SEC to delist the common stock.
As a result of the NYSE delisting, Cloud Peak started trading Wednesday on the OTC Pink. The OTC Markets Group is a US financial market providing price and liquidity information for nearly 10,000 over-the-counter securities.
Cloud Peak Energy Inc. is headquartered in Wyoming and is the only pure-play Powder River Basin coal company. As one of the safest coal producers in the nation, Cloud Peak Energy mines low sulfur, subbituminous coal and provides logistics supply services. The Company owns and operates three surface coal mines in the PRB, the lowest cost major coal producing region in the nation. The Antelope and Cordero Rojo mines are located in Wyoming and the Spring Creek Mine is located in Montana. In 2018, Cloud Peak Energy sold approximately 50 million tons from its three mines to customers located throughout the U.S. and around the world.
