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Energy

Athlon Energy Files for IPO, an Apollo-Backed Deal

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By Jon C. Ogg Published
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Drilling rig
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Athlon Energy may not be a household name in the world of oil and gas exploration and production. The company wants to change that, as it has filed to come public via an initial public offering. The company’s focus is on unconventional oil and gas reserves in the Permian Basin region of Texas and New Mexico.

Terms were not disclosed other than that the filing is for up to $345 million in stock. Citigroup is currently listed as the only underwriter for the offering. You might not have heard of the company itself, but it is another private equity-backed deal coming out of Apollo Global Management LLC (NYSE: APO). Athlon intends to list its stock on the New York Stock Exchange under the ATHL stock ticker.

Athlon was founded in August 2010 by a group of former executives from Encore Acquisition Company, following its acquisition by Denbury Resources Inc. (NYSE: DNR). Its trailing 12-month sales as of the first quarter of 2013 were already about $179 million. Another represented figure is that its acreage position was 124,925 gross (98,348 net) acres at May 31, 2013, and it indicated that it plans to invest $350 million of development capital in 2013.

FULL S-1 SEC FILING

A graphic from the company’s IPO filing has been provided here.

Athlon graphic

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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