Chaparral Energy Receives Continued Listing Standard Notice From NYSE
06 March 2020 - 8:45AM
Chaparral Energy, Inc. (NYSE: CHAP) (the “Company”) announced today
that on February 28, 2020, the Company was notified by the New York
Stock Exchange (“NYSE”) that the average closing price of the
Company’s shares of common stock had fallen below $1.00 per share
over a period of 30 consecutive trading days, which is the minimum
average share price for continued listing on the NYSE. Under the
NYSE’s rules, the Company has six months following receipt of the
notification to regain compliance with the minimum share price
requirement.
Under NYSE rules, the Company can regain
compliance at any time during the six-month cure period if on the
last trading day of any calendar month during the cure period, its
common stock has a closing share price of at least $1.00 and an
average closing share price of at least $1.00 over the 30
trading-day period ending on the last trading day of that
month.
The NYSE notification does not affect the
Company’s business operations or its SEC reporting requirements and
does not conflict with or cause an event of default under any of
the Company’s material debt or other agreements.
The Company will be notifying the NYSE of its
intent to cure the deficiency and return to compliance with the
NYSE continued listing requirements.
About Chaparral
Chaparral Energy, Inc. (NYSE: CHAP) is an independent oil and
natural gas exploration and production company headquartered in
Oklahoma City. Founded in 1988, Chaparral has over 210,000 net
surface acres in the Mid-Continent region. The company is focused
on Oklahoma’s STACK/Merge Play, where it has over 120,000 net
surface acres primarily in Kingfisher, Canadian and Garfield
counties. For more information, visit chaparralenergy.com.
Investor Contact Scott Pittman Chief Financial
Officer405-426-6700investor.relations@chaparralenergy.com
Chaparral Energy (NYSE:CHAP)
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