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Oil and gas companies testing the public markets again

Oil and gas companies are slowly testing the public markets again as oil prices rise.

Keane Group Inc. FRAC, +0.00% a provider of well-completion services, filed to go public Wednesday in an offering of up to $287.5 million. Keane joins a handful of other oil and gas companies that have gone public recently as they look to fund new projects, said Matthew Kennedy, an analyst at Renaissance Capital, a manager of IPO-focused energy traded funds.

“The recovery in energy prices has led to the few IPOs we’re seeing,” Kennedy said.

Crude oil has rallied 20% in the past month and is up 40% year to date.

Other oil and gas-related IPOs this year have included Mammoth Energy Services TUSK, -1.28%   Smart Sand Inc. SND, +0.96%  , Extraction Oil & Gas XOG, -1.38%    and Noble Midstream Partners, LP NBLX, +0.00% which Kennedy notes was the first of the year, debuting in September. Noble has been the best-performing IPO of the group, gaining 15% in the past month.

Keane expects to list on the New York Stock Exchange under the symbol “FRAC.” The offering is being underwritten by Citigroup, Morgan Stanley, Bank of America Merrill Lynch and J.P. Morgan.

Keane likely won’t go public this year as the upcoming holidays limit the IPO window. But filing now makes it possible for the company to go out early in 2017, or potentially explore the possibility of a sale, Kennedy said.

Before the end of the year, Kennedy expects one last IPO, with German hotel-search platform Trivago TRVG, +0.00%  .

“Trivago is going to be the last one of the year,” Kennedy said.

Trivago’s stock is expected to start trading Friday.

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Oil and gas companies testing the public markets again Reviewed by on . Oil and gas companies are slowly testing the public markets again as oil prices rise. Keane Group Inc. FRAC, +0.00% a provider of well-completion services, file Oil and gas companies are slowly testing the public markets again as oil prices rise. Keane Group Inc. FRAC, +0.00% a provider of well-completion services, file Rating:
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