Bounty Minerals, which owns natural gas mineral interests in the Appalachian Basin, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. Based on its assets, the deal size may be a placeholder for an IPO that could raise $200+ million, depending on the public float.
The company owns, acquires, and manages mineral interests in the Appalachian Basin and currently holds approximately 65,000 net mineral acres. Bounty Minerals is primarily focused on acquiring non-producing minerals in developing shale plays. As of June 30, 2022, 17% of Bounty Minerals' existing portfolio has been developed.
The Fort Worth, TX-based company was founded in 2012 and booked $111 million in revenue for the 12 months ended June 30, 2022. It plans to list on the NYSE under the symbol BNTY. Bounty Minerals filed confidentially on July 1, 2022. Raymond James and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.
