Current Report Filing (8-k)
December 21 2020 - 5:01PM
Edgar (US Regulatory)
0001528356
false
0001528356
2020-12-21
2020-12-21
0001528356
gne:ClassBCommonStockParValue.01PerShareMember
2020-12-21
2020-12-21
0001528356
gne:Series2012aPreferredStockParValue.01PerShareMember
2020-12-21
2020-12-21
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 21, 2020
GENIE ENERGY LTD.
(Exact name of registrant as specified in its
charter)
Delaware
|
|
1-35327
|
|
45-2069276
|
(State or other jurisdiction
of incorporation)
|
|
(Commission File Number)
|
|
(IRS Employer
Identification No.)
|
|
|
|
520 Broad Street
Newark, New Jersey
|
|
07102
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Registrant’s telephone number, including
area code: (973) 438-3500
Not Applicable
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
¨
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
¨
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
¨
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities registered pursuant to Section 12(b)-2 of the Exchange
Act:
Title of each class
|
|
Trading Symbol
|
|
Name of each exchange on
which registered
|
Class B common stock, par value $.01 per share
|
|
GNE
|
|
New York Stock Exchange
|
|
|
|
|
|
Series 2012-A Preferred stock, par value $.01 per share
|
|
GNE.PRA
|
|
New York Stock Exchange
|
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
In December 2020, Afek Oil & Gas Ltd., the oil and gas exploration
project in the Golan Heights in Northern Israel (“Afek”) of Genie Energy Ltd. (the “Registrant”), completed
the final planned testing on one of its completed exploratory wells. As previously disclosed, that test was conducted as prior
analysis indicated that a zone within the well potentially contained evidence of hydrocarbons at levels sufficient to warrant additional
testing. After analyzing the results of the test and subsequent activity, as no traces of light oil were found, Afek began to shut
down its operations. Afek is in the process of cleaning the wells in accordance with regulatory requirements and expects that operations
will fully cease on or about December 31, 2020. As Afek represented the only remaining active project under the Genie Oil and Gas
(GOGAS) segment, the Registrant’s fourth quarter of 2020 results of operations related to GOGAS and by extension, Afek, will
be treated as discontinued operations.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
|
GENIE ENERGY LTD.
|
|
|
|
By:
|
/s/ Michael Stein
|
|
|
Name: Michael Stein
|
|
|
Title: Chief Executive Officer
|
Dated: December 21, 2020
Genie Energy (NYSE:GNE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Genie Energy (NYSE:GNE)
Historical Stock Chart
From Apr 2023 to Apr 2024