NASSAU, BAHAMAS — Bahamas Petroleum Company (BPC) said yesterday that while its first exploration well did not result in the discovery of commercial quantities of oil in The Bahamas, it intends to exercise its right to renew four of its licenses, which will allow for another three-year period for oil exploration.

What happened to BPC?

BPC said in a regulatory filing on Friday that it changed its name to Challenger Energy Group plc and that its shares started trading under a new name as of 21 May and its new ticker will be 'CEG'.

Has oil been found in the Bahamas?

Bahamas Petroleum Company (BPC), which started oil exploration in Bahamian waters last December despite opposition from environmental groups, has failed to find commercially viable reserves. An exploratory well the company drilled between Dec. 20 and Feb.