The Second Oil And Gas ipo Since The Crash
Wild Horse Resource Development corp, an freelance oil and gas field operator centered on the Eagle Ford sedimentary rock in Texas, has filed for an initial public providing with the Securities and Exchange Commission, progressing to raise US$650 million.
The money, the corporate said, can go towards finishing the acquisition of Burleson North. Burleson County may be a legacy manufacturing a part of Eagle Ford, that conjointly has standard oil deposits.
Wild Horse failed to specify the quantity of stock to be issued or the value vary for the providing, solely expression that it had applied to be listed on the nyse below the image WRD. The book runners are BofA Merrill kill, BMP Capital Markets, Wells fargo, Barclays, and Citigroup, with another eight establishments as co-managers.
According to the company’s prospectus, it's web surface area of 374,938 acres in 2 states: Louisiana and Texas. It boasted production growth at a compound annual rate of 57 % between january 2014 and september 2016. the most recent production rate is 14,000 bpd.
Wild Horse’s IPO is barely the other since the value crash from 2014. the primary one, of Extraction Oil & Gas, passed last month. the corporate sold-out 33.3 million shares at US$19, registering a 15-percent gain within the initial day of commercialism. This gave Extraction Oil & Gas a value of US$2.4 billion. At the time, the WSJ noted that the last IPO of a U.S. energy company had taken place once oil was double as expensive.
In a sign that the trade is also obtaining used to the new worth traditional, another company has been reportedly getting ready for a listing: Double Eagle Energy Holdings. The Fort Worth-based firm has surface area within the Permian Basin, the foremost attractive shale play at the instant. per many bankers, the corporate may be worth up to US$3 billion.