Forum Energy filed plans today for an IPO of up to $300 million in stock and Sanchez Energy filed plans today for an IPO of up to $150 million in stock.
Forum Energy Technologies Inc. is an oilfield production company that designs and manufactures products to be used for land and offshore drilling contractors as well as products for other uses in the oil and gas industries.
Over a 6-month period, ending on June 30, Forum saw their profit grow 29 percent and their revenue grow 32 percent.
Forum has decided to make plans to enter the New York Stock Exchange under the ticker symbol FET.
Sanchez Energy Corporation is based in Houston, TX. They are also a production company but they focus on the exploration, and development of unconventional oil and natural gas resources.
When Sanchez filed with the U.S. Securities and Exchange Commission today they said that Rice & Company LLC and Macquarie Capital Inc. would be underwriting the offering.
The company plans to be listed on the New York Stock Exchange under the symbol SEN.
Sanchez is intending to use proceeds to pay-off debt and fund capital expenditures until the end of 2012.
Neither Forum Energy nor Sanchez Energy has determined a price for what they will receive for shares once trading begins.
Until next time,