Bud Brigham Prepares Rare Oilfield Services IPO: Sources

Austin, Texas-based Atlas Sand has hired Goldman Sachs Group Inc. to lead preparations for the IPO, which could value the company at between $2 billion and $3 billion including debt, sources say.

Shariq Khan and David French, Reuters
Bud Brigham Prepares Rare Oilfield Services IPO: Sources

As the largest frac sand reserve holder in West Texas, Atlas Sand is uniquely positioned to be the premier low cost producer of quality sand to the Permian Basin, according to the company website. (Source: Atlas Sand Co. LLC)

Oil and gas tycoon Bud Brigham is exploring an IPO of Atlas Sand, people familiar with the matter said, in what would be the first U.S. listing of an oilfield services company since 2018 as the industry makes a comeback.

Atlas and its peers were hit hard when shale producers slammed the brakes on drilling at the onset of the COVID-19 pandemic two years ago. Their business is now booming as the energy industry ramps up production in the wake of soaring prices that have been driven up by Russia’s war in Ukraine.

Austin, Texas-based Atlas has hired Goldman Sachs Group Inc. to lead preparations for the IPO, which could value the company at between $2 billion and $3 billion including debt, the sources said.

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