Chesapeake Energy Corp. received a continued listing notice, the Oklahoma City-based oil and gas company said Dec. 13 after a “going-concern” warning drove its stock down this past month.

In a 10-Q SEC filing in early November, Chesapeake raised a caution flag of “substantial doubt about our ability to continue as a going concern” if low commodity prices persist. The news drove the company’s already battered stock price to plummet 57% over the course of a week, settling well below $1 per share for the first time since the last century.

RELATED:

From OGI Editor-In-Chief: A Going-But-Not-Gone Concern

Despite arranging a loan for up to $1.5 billion earlier this month, Chesapeake has been unable to maintain an average closing share price of at least $1 over a consecutive 30 trading-day period, a requirement to maintain listing on the New York Stock Exchange (NYSE).

As a result, on Dec. 10, the NYSE issued a written notice to Chesapeake of its noncompliance with the standard.

Chesapeake’s stock price as of market close on Dec. 13 was at about $0.79 per share.

Onshore