WildHorse Resource Development, an oil and gas E&P backed by Natural Gas Partners operating in TX and LA, announced terms for its IPO on Thursday.
The Houston, TX-based company plans to raise $550 million by offering 27.5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, WildHorse Resource Development would command a fully diluted market value of $1.8 billion.
WildHorse Resource Development was founded in 2013 and booked $163 million in sales for the 12 months ended September 30, 2016. It plans to list on the NYSE under the symbol WRD. Barclays, BofA Merrill Lynch, BMO Capital Markets, Citi and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of December 12, 2016.
