January 5, 2018
Exco Resources‘ stock has been delisted at the New York Stock Exchange because, the exchange said in late December, the company failed to maintain an average global market capitalization over a consecutive 30 trading-day period of at least $15 million.
As a result, the company is now listing its shares on the OTC markets under the symbol “XCOO”.
The company hired strategic advisors in November to assist in a possible bankruptcy filing, according to WYCO Researchers Co.
C. John Wilder resigned as chairman of Dallas’ Exco Resources in November.
Former board member and current head of the U.S. Department of Commerce, Wilbur Ross, brought in Wilder as chairman to turn the company around in April 2015.
Wilder had built up a turnaround reputation because of his success with the bankruptcy of TXU.