Pacific Drilling faces the threat of being delisted from the New York Stock Exchange (NYSE) due to the decline in its share price and market cap.
The Idan Ofer-backed deepwater driller has been told by the NYSE that it is “below compliance” with NYSE’s continued listing standards.
Those standards require the company to have an average market capitalization of not less than $15m and an average closing share price of not less than $1 over a consecutive 30-trading-day period.
