The private equity owners of Colgate Energy Partners III are preparing to float the shale oil producer on the stock market at a valuation approaching $4 billion, including debt, according to people familiar with the matter.
Pearl Energy Investments and NGP, the buyout firms that own Colgate Energy Partners III, are working with Credit Suisse Group AG on getting it ready for an IPO that could launch by the middle of 2022, the sources said.
The IPO would be the first by a sizable U.S. oil producer since Berry Petroleum Corp raised $182 million in July 2018. It would be the first major offering in the Permian since Jagged Peak Energy raised $474 million in January 2017.
Read more/Source: Financial Post
