This year's four energy IPOs already match 2016's total, making it the most active sector YTD.
That trend should continue. Three large hydraulic fracturing companies joined the US IPO pipeline in the past week. The largest, FTS International ( FTSI ), has an estimated deal size of $1 billion, and ProPetro ( PUMP ) and Liberty Oilfield Services ( BDFC ) could raise over $300 million. Each is a JOBS Act filer, eligible to price in early March. Fellow fracking company Keane Group ( FRAC ) is up 9% from its January IPO, while oilfield services provider Mammoth Energy ( TUSK ) and frac sand provider Smart Sand (SND) have gained 33% and 70% from their 4Q16 IPOs, respectively.
Three Hydraulic Frackers File, following Keane Group's IPO
LTM Sales ($m)
Keane Group ( FRAC ) ; +8.6% from IPO Houston, TX
FTS International ( FTSI )Fort Worth, TX
Credit SuisseMorgan Stanley
ProPetro Holding ( PUMP )Midland, TX
Liberty Oilfield Services ( BDFC )Denver, CO
Morgan StanleyGoldman Sachs
†Deal Size is RC estimate.
The article Meet the frackers: 3 oilfield services firms prep US IPOs originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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