American oilfield service companies are actually gearing up towards initial public offerings. That’s what analysts and regulatory filings informed. It emerged after several shelved equity sales in 2017 during a dismal period for crude prices.
Crude is trading close to its highest peaks since early 2015, thus driving demand for service companies to open fresh shale wells for output . Energy executives polled the previous month told that they would abruptly step up drilling at prices above $60. Oil futures CLC1 have recently hit $61.50 a barrel.
Traders’ appetite for the stocks is going to be tested soon. The previous week Liberty Oilfield Services, providing hydraulic fracturing services to shale producers, raised approximately $160 million by simply selling 10.7 million shares at $15 per share.
If everything OK with its IPO, it could encourage several other companies, enabling to raise funds for another expansion or to purchase counterparts.
