Dawson Geophysical Co. (NASDAQ: DWSN) and TGC Industries Inc. (NASDAQ: TGE) said Feb. 9 that their proposed merger was approved by their respective special meetings of shareholders held that day.
Under the merger plan from Oct. 8, 2014, Dawson will become a direct wholly owned subsidiary of TGC after Riptide Acquisition Corp., a wholly owned subsidiary of TGC, merges into Dawson.
Prior to the merger, Dawson will change its name to Dawson Operating Co. and TGC will change its name to Dawson Geophysical Co., the companies said.
A 1-for-3 reverse split of common stock will occur.
On Feb. 9, Dawson and TGC filed to make the name changes, the stock split and the merger effective with the Texas Secretary of State. These should become effective after market hours on Feb. 11, the companies noted.
On Feb. 12, the combined company, Dawson Geophysical Co., will trade on NASDAQ under the “DWSN” ticker.
Recommended Reading
Athabasca Oil, Cenovus Energy Close Deal Creating Duvernay Pureplay
2024-02-08 - Athabasca Oil and Cenovus Energy plan to ramp up production from about 2,000 boe/d to 6,000 boe/d by 2025.
Novo II Reloads, Aims for Delaware Deals After $1.5B Exit Last Year
2024-04-24 - After Novo I sold its Delaware Basin position for $1.5 billion last year, Novo Oil & Gas II is reloading with EnCap backing and aiming for more Delaware deals.
CEO Darren Woods: What’s Driving Permian M&A for Exxon, Other E&Ps
2024-03-18 - Since acquiring XTO for $36 billion in 2010, Exxon Mobil has gotten better at drilling unconventional shale plays. But it needed Pioneer’s high-quality acreage to keep running in the Permian Basin, CEO Darren Woods said at CERAWeek by S&P Global.
Uinta Basin's XCL Seeks FTC OK to Buy Altamont Energy
2024-03-07 - XCL Resources is seeking approval from the Federal Trade Commission to acquire fellow Utah producer Altamont Energy LLC.
Analysts: Why Are Investors Snapping Up Gulfport Energy Stock?
2024-02-29 - Shares for Oklahoma City-based Gulfport Energy massively outperformed market peers over the past year—and analysts think the natural gas-weighted name has even more upside.