Tullow Oil to delist from Euronext Dublin bourse

Africa-focused Tullow Oil said on Monday it would exit Ireland’s Euronext Dublin bourse on or around Oct. 10 to cut costs.

“It is anticipated the delisting will simplify compliance and regulatory obligations of Tullow and is in line with an overall objective to reduce central costs and its purpose,” the company said in a statement.

Tullow Oil said it would continue to be listed on the London Stock Exchange and the Ghana Stock Exchange.

The company last month said it would abandon its drilling operations at an exploration well in offshore Guyana after results showed it bore water, marking another disappointment for companies drilling offshore the Caribbean nation.