Compressco Partners, L.P., a provider of production enhancement services to natural gas and oil exploration companies, announced terms for its IPO on Thursday. The Oklahoma City, OK-based company plans to raise $50 million by offering 2.5 million units at a price range of $19 to $21. At the mid-point of the proposed range, Compressco Partners, L.P. will command a market value of $298 million. Compressco Partners, L.P., which booked $90 million in pro forma sales in 2009, plans to list on the NASDAQ under the symbol GSJK. Raymond James and J.P. Morgan are the lead underwriters on the deal, for which timing was not disclosed.
