IPO plans are dusted off by American oilfield service companies

IPO plans are dusted off by American oilfield service companies

American oilfield service companies are actually gearing up towards initial public offerings. That’s what analysts and regulatory filings informed. It emerged after several shelved equity sales in 2017 during a dismal period for crude prices.

Crude is trading close to its highest peaks since early 2015, thus driving demand for service companies to open fresh shale wells for output . Energy executives polled the previous month told that they would abruptly step up drilling at prices above $60. Oil futures CLC1 have recently hit $61.50 a barrel.

Traders’ appetite for the stocks is going to be tested soon. The previous week Liberty Oilfield Services, providing hydraulic fracturing services to shale producers, raised approximately $160 million by simply selling 10.7 million shares at $15 per share.

If everything OK with its IPO, it could encourage several other companies, enabling to raise funds for another expansion or to purchase counterparts.

 

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