Extraction Oil & Gas, a oil and gas E&P operating in the Denver-Julesburg Basin, announced terms for its IPO on Thursday.
The Denver, CO-based company plans to raise $550 million by offering 33.3 million shares at a price range of $15 to $18. At the midpoint of the proposed range, Extraction Oil & Gas would command a fully diluted market value of $2.6 billion.
Extraction Oil & Gas was founded in 2012 and booked $215 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol XOG. Credit Suisse, Barclays, Goldman Sachs, Citi, KeyBanc Capital Markets, RBC Capital Markets, SunTrust Robinson Humphrey and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of October 10, 2016.
