Rise Oil & Gas, a Texas-based oil and gas E&P, filed on Monday with the SEC to raise up to $12 million in an initial public offering.
Formed by former executives from Ring Energy (NYSEAM: REI), Rise Oil & Gas is an independent oil and natural gas company focused on securing high-quality, long-lived oil and natural gas assets. The company acquired its initial acreage position in August 2022, consisting of 2,480 contiguous undeveloped leasehold acres in the Texas portion of the Permian Basin. Since then, it has acquired an additional 1,859 gross (868 net) undeveloped leasehold acres in other areas within the Texas portion of the Permian Basin. Rise currently has no revenue-generating operations.
The Austin, TX-based company was founded in 2021 and plans to list under the symbol RISE. It has not selected a proposed listing exchange yet. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.
