Rathin Energy has withdrawn its application to carry out drilling works in County Antrim.
The works, associated with fracking, were expected to be carried out in Ballinea, Ballycastle, if approved.
Sinn Féin MLA Daithí McKay has welcomed the withdrawal of the application and said it is a victory for the campaign to protect the north coast from fracking.
Mr McKay said: "I congratulate those involved in the campaign, particularly the Protect the North Coast group (PONC) on the fantastic work they carried out to highlight the threat posed by fracking.
"The north coast is renowned for its beauty and fracking is not in the best interests of an area which is heavily reliant on attracting tourists to sustain itself economically."
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