WildHorse Resource Development Corp. has been a quiet, but determined, acquisition machine in the past few months, rolling up more than 170,000 net acres of Eagle Ford acreage in three deals.
The deals are valued at more than $400 million.
However, closing them is somewhat dependent on how successfully WildHorse rolls out its IPO, which it submitted to regulators on Nov. 10. WildHorse has penciled in proceeds of $650 million from an offering on its Securities and Exchange Commission (SEC) filings.
In late October, the first U.S. E&P company to successfully launch an IPO came two years after the downturn in commodity prices began. Extraction Oil & Gas Inc. (NASDAQ: XOG) launched an IPO that put the company’s value at more than $3 billion.