GMX's exchange listing is at risk
GMX Resources Inc. is out of compliance with the New York Stock Exchange's continued listing standards because of its declining share price, the company acknowledged Thursday. Listed companies must maintain share prices above $1. GMX closed Thursday at 84.5 cents a share. It has been below $1 since mid-May. “We do not believe that the current stock price properly reflects the potential value of our oil and gas assets, and we are confident in our ability to implement steps to increase our share price to comply with the NYSE continued listing standards,” CEO Ken L. Kenworthy Jr. said.
Merger brings board change
TULSA — NGL Energy Partners has added James L. Burke and Patrick Wade to the board of its general partner, effective Wednesday. Burke and Wade were directors of High Sierra Energy GP, which merged with NGL this week. Burke is High Sierra's co-founder. Wade, a University of Oklahoma graduate who served on High Sierra's board since 2008, has 19 years of experience in the energy industry.