Flowco files for IPO

Article Excerpt

FLOWCO HOLDINGS INC. has filed paperwork with U.S. regulators for an initial public offering (IPO) of 17.8 million class A common shares at between $21.00 and $23.00 a share. The shares will trade on the New York exchange under the symbol “FLOC.” Insiders will control roughly 75% of the voting power after the IPO. Based in Houston, Texas, Flowco makes a variety of equipment to help oil and gas producers capture methane emissions from their wells. That helps them improve efficiency and comply with environmental regulations. Currently, the company has over 4,300 of its systems in operation. Rentals supply just over half of the company’s annual revenue of roughly $425 million. Flowco’s outlook is bright. Rising demand for electricity to power datacentres and their artificial intelligence programs will spur demand for natural gas. The company also stands to gain from increasing exports of liquefied natural gas. We’ll keep an eye on the progress of Flowco’s IPO and update our analysis when more information becomes…