If the price of the shares in under a buck the NYSE sends SD a warning notice. I believe they (SD) have 6 mos to get back into compliance. It won't be delisted.
I remember Coop pushing for the 200 mil stock buyback. That money could have been better spent. I'm glad he's gone.
Especially since he is taking down 3 mill a year and he hasn't taken a pay cut. Sure would make a statement and also help the stock price like it is over at HK.
I think this is good new also! If they can restructure the debt, ACI can ride this bad time out. Bondholders know that they would only get a fraction of their money back in a BK. If I were a bondholder I would restructure.
They do have some nice assets including the water disposal system.. Management needs to pursue some kind of sale to Devon/Chk or someone like that. It would be a good fit. In the meantime Bennett could take a pay cut to show he is a true leader. BK is not imminent but they got to stop the bleeding!
I know your #$%$ about selling for a loss. I've lost a lot too but to hope for SD to implode is kinda #$%$. We made mistakes by buying but I'm hoping for a rebound with higher oil & gas prices.