Athlon Energy, a Fort Worth-based oil and natural gas company, could raise as much as $363 million in an initial public stock offering this week, according to a filing with the Securities and Exchange Commission.
The company, which was founded in 2010, focuses its drilling activities in about 220 wells in the Permian Basin in West Texas.
Athlon plans to sell about 15.8 million shares for $18 to $20 a share, according to the SEC filing. The company will use the proceeds to pay down debt, fund its drilling program and for other purposes, such as acquisitions.
Athlon produced an average of 12,000 barrels of oil per day in its latest quarter, which ended in June, according to the filing. The company earned $14.7 million on revenue of $157 million in 2012.
Robert Reeves has been Athlon’s president and chief executive officer since its formation in August 2010. Previously, he was the senior vice president, chief financial officer, and treasurer of Encore Energy Partners from February 2007 until March 2010.
The lead managers of the deal are Citi, Goldman Sachs, and Merrill Lynch. The company plans to list on the New York Stock Exchange under the symbol “ATHL.”
