Triangle Petroleum said March 27 that the NYSE MKT LLC informed it that it will begin delisting Triangle stock--under the ticker TPLM--from the NYSE MKT Exchange. Trading was suspended at market opening.
The NYSE MKT indicated it will begin delisting proceedings pursuant to Section 1002(c) of the NYSE MKT Company Guide following the company's disclosure on March 24 of the effectiveness of the Chapter 11 plan of reorganization for Triangle USA Petroleum Corp., a former subsidiary.
The company has a right to a review of the NYSE MKT's delisting determination; however, the company does not intend to appeal the determination, the press release said.
As a result of the delisting notice, the company's common stock is expected to begin trading on the OTC Exchange.
Recommended Reading
Benchmark Closes Anadarko Deal, Hunts for More M&A
2024-04-17 - Benchmark Energy II closed a $145 million acquisition of western Anadarko Basin assets—and the company is hunting for more low-decline, mature assets to acquire.
‘Monster’ Gas: Aethon’s 16,000-foot Dive in Haynesville West
2024-04-09 - Aethon Energy’s COO described challenges in the far western Haynesville stepout, while other operators opened their books on the latest in the legacy Haynesville at Hart Energy’s DUG GAS+ Conference and Expo in Shreveport, Louisiana.
Mighty Midland Still Beckons Dealmakers
2024-04-05 - The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
Mesa III Reloads in Haynesville with Mineral, Royalty Acquisition
2024-04-03 - After Mesa II sold its Haynesville Shale portfolio to Franco-Nevada for $125 million late last year, Mesa Royalties III is jumping back into Louisiana and East Texas, as well as the Permian Basin.
Life on the Edge: Surge of Activity Ignites the Northern Midland Basin
2024-04-03 - Once a company with low outside expectations, Surge Energy is now a premier private producer in one of the world’s top shale plays.