This past week saw two IPOs in the energy sector on The Nasdaq Stock Market. The two offerings were Extraction Oil & Gas and Mammoth Energy. Extraction Oil & Gas ( XOG) was priced at the high end of its range. Mammoth Energy (TUSK) was priced at the low end.
Although there was uneven performance for both stocks, it likely won't deter other companies from going public, according to Tamar Essner, energy analyst with Nasdaq Advisory Services. According to Essner, there is a backlog of companies waiting to go public in the next year.
The factor for other energy companies to IPO is a stable oil market. To that end, Essner believes oil prices will remain in the $50 range, and will not retest recent lows.
TheStreet's Rhonda Schaffler reports from the Nasdaq Marketsite. View the video >
Nasdaq Advisory Services Energy Team Tamar Essner
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