Superior Energy Services Receives Notice From NYSE Regarding Continued Listing Standard
26 Setembro 2019 - 7:49PM
Superior Energy Services, Inc. (the “Company”) today was
notified by the New York Stock Exchange (“NYSE”) of its
determination to commence proceedings to delist the Company's
common stock and to suspend trading of the Company’s common stock
due to "abnormally low" price levels. The Company anticipates
that effective September 27, 2019 its common stock will commence
trading on the OTC Markets under the symbol “SPNV”. The
transition to the over-the-counter market will not affect the
Company’s business operations.
The Company believes the determination to
commence delisting proceedings is unwarranted. As announced on
August 12, 2019, the Company intends to implement a number of
options, including a reverse stock split, to cure the low price
condition. The Company will appeal the NYSE’s decision.
About Superior Energy
Services
Superior Energy Services serves the drilling,
completion and production-related needs of oil and gas companies
worldwide through a diversified portfolio of specialized oilfield
services and equipment that are used throughout the economic life
cycle of oil and gas wells. For more information, visit:
www.superiorenergy.com.
This press release includes forward-looking
statements as defined under federal law, including, but not limited
to, those related to the company’s intention to regain compliance
with the NYSE continued listing standards. These forward-looking
statements are generally identified by the words “believe,”
“expect,” “anticipate,” “estimate,” “intend,” “plan,” “may,”
“should,” “could,” “will,” “would,” and “will be,” and variations
of such words and similar expressions, although not all
forward-looking statements contain these identifying words. Such
statements are subject to significant risks, assumptions and
uncertainties. Known material factors that could cause the
Company’s actual results to differ materially from the results
contemplated by such forward-looking statements are described in
the forward looking statements and risk factors in the Company’s
Annual Report on Form 10-K for the fiscal year ended December 31,
2018, Quarterly Report on Form 10-Q for the quarter ended March 31,
2019, Quarterly Report on Form 10-Q for the quarter ended June 30,
2019 and those risk factors set forth from time to time in other
filings with the Securities and Exchange Commission. The Company
undertakes no obligation to correct or update any forward-looking
statement, whether as a result of new information, future events,
or otherwise, except to the extent required under federal
securities laws.
FOR FURTHER INFORMATION CONTACT:Paul Vincent, VP
of Treasury and Investor Relations, (713) 654-2200
Superior Energy Services (NYSE:SPN)
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