DALLAS, June 6, 2016 /PRNewswire/ -- Azure Midstream
Partners, LP (NYSE: AZUR) ("Azure", the "Partnership"), today
announced that it was notified by the New York Stock Exchange (the
"NYSE") that the NYSE has determined to commence proceedings to
delist its common units (the "Common Units") from the NYSE.
These proceedings are a result of Azure's failure to comply with
the continued listing standard set forth in Section 802.01B of the
NYSE Listed Company Manual that require Azure to maintain an
average global market capitalization over a consecutive 30
trading-day period of at least $15
million for its Common Units. The NYSE also
suspended the trading of the Common Units at the close of trading
on June 3, 2016.
The NYSE has informed Azure that it will file a Form 25-NSE with
the Securities and Exchange Commission, which will remove Azure's
securities from listing and registration on the NYSE. Azure
is presently considering what actions, if any, it may take in
response to the decision. However, the Partnership anticipates that
the Common Units will begin trading on the OTCQB Market at the open
on Monday, June 6, 2016. Azure
expects its OTCQB ticker symbol to be the same as its NYSE symbol:
AZUR. The Partnership will remain subject to the public
reporting requirements of the Securities and Exchange Commission
following the transfer to the OTCQB.
About Azure Midstream Partners, LP
Azure Midstream Partners, LP, headquartered in Dallas, Texas, is a fee-based, growth oriented
limited partnership formed to develop, operate, and acquire
midstream energy assets. The Partnership provides natural gas
gathering, transportation, and processing services; as well as NGL
transportation and crude oil logistics services. The Partnership's
assets include 1,002 miles of gathering lines in the Shelby Trough
sub-play of the Haynesville Shale and the horizontal Cotton Valley play located in east
Texas and north Louisiana that are capable of gathering 1.9
Bcf/d. The Partnership also has four natural gas processing
facilities with 310 MMcf/d of cumulative processing capacity
located in the Panola,
San Augustine and Tyler Counties of Texas, two NGL transportation pipelines that
connect its Panola County and
Tyler County processing facilities
to third party NGL pipelines capable of transporting 21,000 barrels
per day, and three crude oil transloading facilities containing six
crude oil transloaders with a combined capacity of 31,200
Bbls/d. www.azuremidstreampartners.com
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SOURCE Azure Midstream Partners, LP