Extraction Oil & Gas, an oil and gas E&P operating in the Denver-Julesburg basin, filed on Wednesday with the SEC for an initial public offering that we estimate could raise up to $400 million.
Extraction's initial filing makes it the fifth new energy IPO to join the pipeline this year, each of which has filed since mid-August. Noble Midstream Partners LP (NBLX) priced on Wednesday night, the first energy IPO of 2016.
The Denver, CO-based company was founded in 2012 and booked $215 million in revenue for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol XOG. Extraction Oil & Gas filed confidentially on October 8, 2015. Credit Suisse, Barclays and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.
