South Texas-based fracking specialist Sundance Energy is proposing to delist from the ASX and and re-domicile from Australia to the US.
Its primary listing would become the NASDAQ, where it currently has a secondary listing.
The ASX300 component got its start in Australia's Cooper Basin in 2004 but has had no Australian operations for years, and its headquarters are in Colorado.
The US market is better informed about unconventional exploration and production companies and tends to more fully value them, Sundance said.
Delisting would also give Sundance increased access to lower-cost debt or equity capital in the US markets, "which are larger and more diverse than Australian capital markets, thus enabling future growth to be financed at a lower cost," Sundance said.
It would further give it a simplified corporate structure for potential mergers, sales and acquisitions.
Sundance is asking shareholders to vote in favour of the plan in November.
It also needs regulatory and Federal Court approval.
Sundance shares were down 20.2 per cent to 20.75 cents at 1111 AEST, down 44 per cent on the year and 98 per cent since their September 30, 2014 high of $11.10.