Penn West Faces New York Delisting as Rout Makes It Penny Stock

  • Delisting process triggered if price is below $1 for 30 days
  • Penn West's share price has been below $1 for 15 straight days

Penn West Petroleum Ltd. is facing the loss of its New York listing, closing off another funding option for the cash-strapped Canadian oil producer to survive a crude price crash that’s forced it to fire 400 workers.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.