Flowco Holdings, a provider of U.S. oilfield artificial lift services, is planning an initial public offering, filings show.
The Houston-based oilfield services firm filed an S-1 registration statement with the U.S. Securities and Exchange Commission on Friday, Dec. 6.
Flowco has not disclosed how many shares it intends to offer nor the estimated size of its IPO. The IPO could generate proceeds of $300 million, according to estimates from Renaissance Capital.
The company’s core business segments are production solutions and natural gas technologies and include offerings for high pressure gas lift, conventional gas lift, plunger lift and vapor recovery lift solutions.
Flowco reported total revenues of $349.29 million through the first nine months of 2024—up 108% from $167.86 million over the same period a year prior.
The increase was driven by a higher level of system rentals and elevated sales of natural gas systems to third parties, the company said.
Flowco has presences in major U.S. shale basins, including the Permian and Williston basins. The company was created in June 2024 through a merger between Global Energy Capital (GEC) and White Deer Energy.
J.P. Morgan Securities LLC, Jefferies LLC and Piper Sandler & Co. are serving as underwriters for the proposed offering.
Several other energy-focused companies have filed IPO paperwork during the recent surge in equity markets, including Peak Resources LP, Infinity Natural Resources and OMS Energy.
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