Saratoga Resources Inc., an energy company with offices in Houston and Covington, will no longer be listed on the NYSE MKT, formerly known as the American Stock Exchange.
The company said Tuesday that NYSE Regulation Inc. planned to begin the proceedings to delist Saratoga’s stock. Saratoga does not plan to appeal that decision. The stock exchange suspended trading in Saratoga shares before the market opened June 19.
Last week, Saratoga filed for Chapter 11 reorganization in federal bankruptcy court in Lafayette, citing low oil and gas prices. The company has 51,500 acres under lease along the coast of Louisiana and in the shallow waters of the Gulf of Mexico.