Oilfield services firm Atlas Energy Solutions Inc filed for a U.S. initial public offering on Jan. 31 at a time when drilling activities around the world are picking up from pandemic lows.
Reuters was the first to report last year that the Austin, Texas-based firm was preparing for a public listing which could value it between $2 billion and $3 billion including debt. In regulatory filings, Atlas describes itself as a "leading provider of proppant and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico."
Bud Brigham, Atlas' executive chairman and CEO, founded the company in 2017. Brigham was the founder of Brigham Exploration Co. that was an early leader in cracking the Bakken code.
Atlas joins a small minority of IPO-bound firms that have chosen to proceed with their proposed listings even amid a global market rout that has prompted many startups to shelve their stock market flotation. Most recently, E&P TXO Energy Partners LP, headed by CEO Bob Simpson, launched its IPO on Jan. 30.
Energy companies were among the biggest winners of last year as the war in Ukraine piled pressure on the commodities supply chain.
Western sanctions on top energy exporter Russia tightened global supplies, forcing Europe to look for other sources for oil and gas and driving business growth as companies ramped up production to meet soaring demand.
Atlas Energy plans to float its shares on the New York Stock Exchange and expects to trade under the ticker symbol "AESI".
Goldman Sachs, BofA Securities and Piper Sandler are the lead underwriters of the offering.
Recommended Reading
Digital Twins ‘Fad’ Takes on New Life as Tool to Advance Long-Term Goals
2025-02-13 - As top E&P players such as BP, Chevron and Shell adopt the use of digital twins, the technology has gone from what engineers thought of as a ‘fad’ to a useful tool to solve business problems and hit long-term goals.
Diamondback in Talks to Build Permian NatGas Power for Data Centers
2025-02-26 - With ample gas production and surface acreage, Diamondback Energy is working to lure power producers and data center builders into the Permian Basin.
PrePad Tosses Spreadsheets for Drilling Completions Simulation Models
2025-02-18 - Startup PrePad’s discrete-event simulation model condenses the dozens of variables in a drilling operation to optimize the economics of drilling and completions. Big names such as Devon Energy, Chevron Technology Ventures and Coterra Energy have taken notice.
Trump Administration to Open More Alaska Acres for Oil, Gas Drilling
2025-03-20 - U.S. Interior Secretary Doug Burgum said the agency plans to reopen the 82% of Alaska's National Petroleum Reserve that is available for leasing for development.
Energy Technology Startups Save Methane to Save Money
2025-03-28 - Startups are finding ways to curb methane emissions while increasing efficiency—and profits.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.