By Liz Hampton
HOUSTON, Jan 29 (Reuters) - Oilfield services provider Quintana Energy Services aims to raise around $125 million through an initial public offering of shares, according to a filing on Monday with the U.S. Securities and Exchange Commission.
The Houston-based company, which provides drilling and well-completion services, plans to sell around 9.3 million shares at between $12 and $15 per share in coming days. It reported a loss of $23 million on revenue of $307.2 million for the first nine months of 2017, its filing said.
Higher oil prices - U.S. crude futures have traded above $60 per barrel throughout January - are helping boost demand for drilling and other services and creating an opening for services firms to tap investor interest.
Pressure pumper Liberty Oilfield Services in mid-January was the first oilfield service firm to go public this year, following a drought of IPOs in the second half of 2017. Since that offering, rival Nine Energy Service has also gone public, and last week FTS International firmed up plans to raise $250 million through a public offering.
Shares of Liberty Oilfield Services were trading around $22.50 on Monday, above its initial offering price of $17 per share. Nine Energy Service was trading $25.70, about 11 percent over its initial price of $23 a share.
(Reporting by Liz Hampton Editing by Chizu Nomiyama)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.