US Shale Gas Producer Ascent Resources Prepares for IPO: Sources

The two private equity firms that own Ascent Resources—the Energy & Minerals Group and First Reserve Corp.— are working with Citigroup Inc. and Barclays Plc to prepare for an IPO of Ascent, the sources said.

David French, Reuters

Ascent Resources LLC, one of the largest privately held U.S. natural gas producers, is preparing an IPO it hopes will give it a market valuation of around $6 billion, according to people familiar with the matter.

Depending on timing, it would be the first major stock market listing of a U.S. shale operator since Russia’s invasion of Ukraine in February drove a spike in gas prices.

The ensuing stock market volatility that prevented many companies from launching an IPO is now subsiding and energy prices remain elevated, making it a favorable environment for Ascent to consider pursuing a listing.

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access