The New York Stock Exchange on Wednesday removed SandRidge Energy Inc. from trading, citing "abnormally low" stock prices.

Shares of the Oklahoma City-based oil and natural gas company dropped 2 cents, or nearly 12 percent, to an all-time low of 15 cents a share Wednesday before the notice was issued.

"NYSE Regulation has now determined that the company is no longer suitable for listing based on 'abnormally low' price levels," the exchange said.

The exchange suspended trading of SandRidge stock after market close Wednesday and said it would apply to the Securities and Exchange Commission to formally delist the company.