HOUSTON, Jan. 9, 2019 /PRNewswire/ — EP Energy Corporation (NYSE:EPE) today announced that on January 3, 2019, EP Energy was notified by the New York Stock Exchange of its noncompliance with continued listing standards because the average closing price of its class A common stock over a prior 30 consecutive trading day period had fallen below $1.00 per share, which is the minimum average closing price per share required to maintain listing on the NYSE.
In accordance with applicable NYSE procedures, EP Energy intends to notify the NYSE within ten business days of receipt of the notification of its intent to cure the deficiency and restore its compliance with the NYSE continued listing standards. EP Energy has a period of six months following the receipt of notice to regain compliance. EP Energy can regain compliance at any time during the six-month cure period if its common stock has a closing share price of at least $1.00 on the last trading day of any calendar month during the period and also has 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.
EP Energy’s common stock will continue to be listed and traded on the NYSE during this six-month cure period, subject to the company’s compliance with other continued listing requirements set forth in the NYSE Listed Company Manual.
The NYSE notification does not affect EP Energy’s business operations or its Securities and Exchange Commission reporting requirements and does not result in a default under any of the company’s material debt agreements.
About EP Energy
The EP Energy team is driven to deliver superior returns for our investors by developing the oil and natural gas that feeds America’s growing energy needs. The company focuses on enhancing the value of its high quality asset portfolio, increasing capital efficiency, maintaining financial flexibility, and pursuing accretive acquisitions and divestitures. EP Energy is working to set the standard for efficient development of hydrocarbons in the U.S. Learn more at epenergy.com.