Vantage Energy files for IPO of about $400 mln
Oil and gas company Vantage Energy Inc filed with U.S. regulators on Monday to raise about $400 million in an initial public offering of common stock.
Vantage, focused on the Marcellus shale in the Appalachian Basin and the Barnett shale in Texas, counts private equity firms Quantum Energy Partners, Riverstone Holdings and Lime Rock Partners among its stockholders. (http://bit.ly/1kvvNR0)
The Englewood, Colorado-based company listed Barclays (BCS), Goldman Sachs and Citigroup among underwriters for the IPO.
The company intends to list its common stock on the New York Stock Exchange under the symbol "VEI" but the filing did not reveal how many shares the company planned to sell or their expected price.
The company's production volumes increased 11 percent to 4,022 million cubic feet equivalent for the three months ended March 31, from a year earlier.
Vantage counts Sequent Energy, Texas Energy Management and Devon Gas Services among its customers and operates more than 1,000 drilling locations.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
Reporting By Neha Dimri