Oilfield Services Firm Atlas Energy Aims for $2 Billion Valuation in US IPO
(Reuters) — Oilfield services firm Atlas Energy Solutions Inc. plans to get a valuation of around $2 billion in its initial public offering in the United States, a regulatory filing showed on Tuesday.
The company provides logistics services to customers in the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. It plans to raise $414 million in an offering priced between $20 and $23 per share.
Reuters was the first to report last year that Atlas was preparing for a public listing which could value the company between $2 billion and $3 billion including debt.
The Austin, Texas-based firm joins a clutch of energy companies that have taken to the public equity markets even amid a global rout, hoping to cash in on huge wins in the oil and gas industry since last year as the war in Ukraine piled pressure on the commodities supply chain.
Excelerate Energy Inc., which provides floating terminals for importing liquefied natural gas, ended a lullin the U.S. IPO market when it debuted last year.
Atlas Energy plans to float its shares on the New York Stock Exchange and expects to trade under the ticker symbol "AESI". Goldman Sachs & Co. LLC, BofA Securities and Piper Sandler are the lead book-running managers for the offering.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports
Comments