DENVER BUSINESS JOURNAL - Tengasco Inc., an oil and gas company currently based in Knoxville, Tenn., said Wednesday it will move its principal offices to the Denver area following last year's sale of Tennessee assets, saying it wants to be headquartered to an "industry center" near its Kansas oil operations.
The company (NYSE MKT: TGC) said its board has agreed to the headquarters relocation and that it expects the move to be completed by June 30.
"Following the sale of the company's Tennessee oil and gas production and intrastate pipeline in the summer of 2013, there have been few business reasons to remain headquartered in Tennessee, and the board has determined that the better course would be to relocate the company's principal offices to a place with an established presence of companies and personnel engaged in the oil and gas exploration and production industry," CEO Michael J. Rugen said in a statement.
Denver, he added, "is the industry center closest to our Kansas oil production."
Tengasco late last year opened an office at 6021 S. Syracuse Way, Suite 305, in Greenwood Village for its technical staff.
Read the full report on the Denver Business Journal: http://bit.ly/Px2cxj.
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