Geokinetics, the predominant supplier of seismic data acquistion services in the Niobrara, saw its shares (GEOK) plunge in 2012 from approximately $2.00 a share on January 1st 2012 to just 5 cents on December, 31, 2012. The latest blow to the company was a de-listing notice received by the company from the NYSE on December 18th, 2012. The notice stated that trading in the Company’s common stock will be suspended from the Exchange prior to the opening of business on December 27, 2012 and the Exchange will file a Form 25-NSE with the SEC to remove the Company’s common stock from listing and registration on the Exchange.
In a December 20th press release, the company stated that it will look to have its stock listed with the Over the Counter Bulletin Board or OTC Markets Group OTCQB if a market maker can be found to list and make a market for the company’s common shares.
Geokinetics is the predominant supplier of seismic data acquisition and processing services for the Niobrara Play in both Wyoming and Colorado. The company is currently trying to restructure its capital structure. The effects of the NYSE de-listing on current seismic survey operations is unknown at this time.