HNR Acquisition Shares Halve Following Business Combination with Pogo Resources

Dow Jones

2023/11/16

By Denny Jacob

HNR Acquisition shares lost a little more than half its market share value a day after completing its business combination with Pogo Resources and its subsidiaries.

The stock declined 51% to $3.33 in early trading Thursday. Trading was paused for volatility at 10:40 a.m. ET but resumed five minutes later.

HNR, which was a blank check company, said Pogo and its subsidiaries assets include interests in an oil field in the Permian Basin in Eddy County, New Mexico.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

November 16, 2023 10:59 ET (15:59 GMT)

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Trading was paused for volatility at 10:40 a.m. ET but resumed five minutes later. \n\n\n  HNR, which was a blank check company, said Pogo and its subsidiaries assets include interests in an oil field in the Permian Basin in Eddy County, New Mexico. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 16, 2023 10:59 ET (15:59 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}