Two more LPs are set to price next week. Energy companies now account for seven of the 16 deals on the US IPO calendar.
Mid-Con Energy Partners LP operates and develops oil and natural gas properties in the central United States. The Tulsa, OK-based company plans to raise $108 million by offering 5.4 million shares at a price range of $19 to $21. At the mid-point of the proposed range, Mid-Con Energy Partners LP will command a market value of $353 million. Mid-Con Energy Partners LP plans to list on the NASDAQ under the symbol MCEP. RBC Capital Markets, Raymond James, and Wells Fargo Securities are the lead underwriters on the deal.
Inergy Midstream LP is an Inergy spin-off that owns and operates natural gas storage facilities and pipelines in NY and PA. The Kansas City, MO-based company plans to raise $320 million by offering 16 million shares at a price range of $19 to $21. At the mid-point of the proposed range, Inergy Midstream will command a market value of $368 million. Inergy Midstream, which was founded in 2005 and booked $111 million in sales for the 12 months ended September 30, 2011, plans to list on the NYSE under the symbol NRGM. Morgan Stanley, Barclays Capital, BofA Merrill Lynch, Credit Suisse and Wells Fargo are the lead underwriters on the deal.
