IPOS - Frac sand IPO a sign that the oil patch is back to business as usual
Oil and gas tycoon Bud Brigham is exploring an IPO of Atlas Sand, a frac-sand business that services the oil and gas industry and could fetch $2-3b in a listing, according to Reuters sources. The consideration follows strong performance by publicly traded peers, with US Silica (SLCA) up ~120% year-to-date. During its quarterly conference call Tuesday, Halliburton (HAL) said its frack fleet remains sold out, and that this cycle will be different than past cycles. With supermajors Exxon (XOM) and Chevron (CVX) set to report earnings later this month, investors are sure to be focused on supply chain headwinds and oil field service prices, themes that could support the oil field service sector (OIH) throughout 2022.
For further details see:
Frac sand IPO a sign that the oil patch is back to business as usual