Private equity firms are seeking to make money through the drill bit and by buying noncore assets that large companies are shedding, while family offices are starting to make more aggressive moves.
Anadarko Basin E&P Mach Resources is planning an initial public offering, according to preliminary regulatory filings.
Ovintiv said that NMB Stock Trust, which was issued the stock as part of a transaction, will receive all proceeds from the secondary offering.
The pandemic’s wild SPAC boom helped launch several new public companies in the energy space. But federal intervention and souring investor appetites brought the historic boom back down to earth.
Elephant Oil Corp.’s IPO follows the public offering of Trio Petroleum Corp., which is led by CEO Frank C. Ingriselli — who also serves as a director for Elephant Oil.
HighPeak Energy’s proceeds from the closing of the underwritten public offering will be used towards working capital and to enhance near-term liquidity.
Rise Oil & Gas, a new Permian Basin company, aims to drill at least one well by the end of the year.
With four energy IPOs so far this year, six more may launch before the end of 2023.
Oilfield service provider Kodiak Gas Services made its public debut on June 28 after cutting the pricing of its IPO.
Gulfport is buying $25 million of selling shareholders' 1.3-million-share sale.