Oil & Gas IPO’s To Spike in 2017

In a report by Bloomberg News -- Maynard Holt CEO of Tudor Pickering Holt & Co. stated that as many as 40 companies in the energy sector may hold IPOs over the next two years as rising oil prices spark interest in new drilling. According to bizjournals -- Wildhorse Resource Development Corp. had the biggest IPO in 2016. The company priced its initial public offering earlier in December at $15 per share -- well below the expected range of $19 to $21 per share. The IPO offered 27.5 million shares, and the company granted underwriters a 30-day option to purchase up to an additional 4.125 million shares, which would result in gross proceeds of nearly $474.38 million. Widlhorse's net proceeds totaled about $391.7 million, after deducting underwriting discounts and commissions and estimated offering expenses. To get more information on oil and gas IPO's to spike in 2017 click on the picture below to read the article.