The NYSE MKT stock exchange said June 23 that Saratoga Resources Inc. is no longer eligible to list for trading after it filed for Chapter 11 bankruptcy protection for itself and some operating subsidiaries. Saratoga began the process of delisting its common stock from the exchange.
Before the market opened on June 19, Saratoga’s stock was suspended.
Saratoga filed for bankruptcy protection with the United States Bankruptcy Court for the Western District of Louisiana.
Saratoga added that it does not plan to appeal the delisting request. The stock is trading on the OTC exchange under the ticker “SARAQ.”
Houston-based Saratoga Resources Inc. produces and develops oil and natural gas in Louisiana state waters and in the shallow-water Gulf of Mexico.
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