Pyramid Oil Co. (NYSE MKT: PDO) and Yuma Energy Inc. have announced that the merger of Pyramid and Yuma was consummated effective as of September 10, 2014 with Yuma becoming a wholly-owned subsidiary of Pyramid and Pyramid's name having changed to "Yuma Energy Inc." Both Pyramid and Yuma stockholders approved the transaction at a special meeting of their respective stockholders. The combined company will be led by Sam L. Banks, chairman and CEO of Yuma.
The common stock of the combined company is expected to commence trading on the NYSE MKT under the symbol "YUMA" on September 11, 2014. The CUSIP assigned to Yuma Energy's common stock is 98872E108. Computershare, the company's transfer agent, will mail letters of transmittal to all Yuma stockholders of record immediately prior to the merger with instructions on how to deliver their stock certificates in exchange for the merger consideration. Yuma stockholders should not surrender their stock certificates until they have completed the letter of transmittal. Pyramid stockholders are not required to exchange their shares for new Yuma Energy Inc. certificates at this time. Old Pyramid shares represent ownership of the same number of shares of Yuma.
Roth Capital Partners LLC acted as financial advisor to Pyramid in the transaction. Legal counsel to Yuma in the transaction is Jones & Keller PC, Denver. Legal counsel to Pyramid in the transaction is TroyGould PC, Los Angeles.
Yuma Energy is based in Houston.
Recommended Reading
E&P Highlights: March 15, 2024
2024-03-15 - Here’s a roundup of the latest E&P headlines, including a new discovery and offshore contract awards.
Less Heisenberg Uncertainty with Appraisal Wells
2024-03-21 - Equinor proves Heisenberg in the North Sea holds 25 MMboe to 56 MMboe, and studies are underway for a potential fast-track tieback development.
E&P Highlights: April 8, 2024
2024-04-08 - Here’s a roundup of the latest E&P headlines, including new contract awards and a product launch.
E&P Highlights: March 25, 2024
2024-03-25 - Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.
Deepwater Roundup 2024: Offshore Europe, Middle East
2024-04-16 - Part three of Hart Energy’s 2024 Deepwater Roundup takes a look at Europe and the Middle East. Aphrodite, Cyprus’ first offshore project looks to come online in 2027 and Phase 2 of TPAO-operated Sakarya Field looks to come onstream the following year.