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Oil and gas E&P Energy & Exploration sets terms for $236 million US IPO

By: Renaissance Capital
Posted: 10/17/2012 4:35:00 PM
Referenced Stocks: ENXP

Energy & Exploration Partners, an exploration and production company focused on unconventional oil and natural gas resources, announced terms for its IPO on Wednesday. The Fort Worth, TX-based company plans to raise $236 million by offering 15.7 million shares (5% insider) at a price range of $14 to $16. At the midpoint of the proposed range, Energy & Exploration Partners would command a fully diluted market value of $525 million. Energy & Exploration Partners, which was founded in 2006, plans to list on the NYSE under the symbol ENXP. Canaccord Genuity and Johnson Rice & Co. are the joint bookrunners on the deal.