Flowco Holdings, which provides equipment and services that optimize the production of oil and gas wells, filed on Friday with the SEC for an initial public offering that we estimate could raise $300 million.
The Houston, TX-based company was formed this year through the merger of Flowco Production Solutions, Estis Compression, and Flogistix. It calls itself a leading provider of production optimization, artificial lift, and methane abatement solutions for the oil and natural gas industry. Its products and services allow energy producers to maximize the profitability and lifespan of active wells. Its core products include high pressure gas lift, conventional gas lift, plunger lift, and vapor recovery unit solutions, overlaid by its proprietary digital systems. Its products and services seek to optimize production and counteract the natural decline in production rates that wells experience over time.
Flowco traces its predecessor's founding to 1996. Largest segment Estis booked $425 million in sales for the 12 months ended September 30, 2024. It plans to list on the NYSE under the symbol FLOC. Flowco Holdings filed confidentially on August 30, 2024. J.P. Morgan, Jefferies, Piper Sandler, Evercore ISI, BMO Capital Markets, and Pickering Energy Partners are the joint bookrunners on the deal. No pricing terms were disclosed.
