ERock, Inc. (EROC) began trading on the NYSE on Wed 10 June 26

ERock (formerly Enchanted Rock), provides reliable, large-scale onsite power solutions (natural gas generators, microgrids, bridge/backup/dispatchable power). 

It primarily serves data centers, utilities, and large commercial & industrial (C&I) customers, with major footprints in California and Texas. 

• Sector: Industrials
• Industry: Specialty Industrial Machinery
• Full Time Employees: 440
• Founded in 2006 
• HQ in Houston, Texas
• https://erock.com

Pricing: $21.50 per share (midpoint of the $20.00–$23.00 range). 

Shares offered: 27,906,977 shares of Class A common stock, raising approximately $600 million in gross proceeds.

The company is experiencing heightened demand from AI as data centers require massive, reliable power for AI workloads and GPU clusters. Its quick-response natural gas generators provide immediate, dispatchable power to support AI infrastructure expansion while grid capacity lags, making ERock a critical partner for AI companies needing rapid power deployment.

At the center of Erock's platform is RockBlock, a modular, distributed generator string that incorporates the company's proprietary natural gas engine, scales in 0.5 MW increments from 1.5 MW to 3.5 MW per RockBlock, and is assembled in-house. The generator technology is also supported by its Granite Software Ecosystem. 

Over the past decade, the company has built relationships with leading data center and AI firms, such as Microsoft (MSFT), Wistron, and Foxconn; electric and gas utilities, such as Entergy (ETR), and ComEd (EXC); and C&I customers, such as H-E-B and Walmart (WMT).  

Trio Petroleum (TPET) : 18-month performance

Trio Petroleum Corp. operates as an oil and gas exploration and development company. 

• Sector: Energy
• Industry: Oil & Gas E&P
• Full Time Employees: 7
• Incorporated in 2021 
• Headquartered in Bakersfield, California
• https://trio-petroleum.com

Oklo Inc. (OKLO) began trading on the NYSE on Fri 10 May 24

Oklo Inc. manufactures an emission-free, megawatt-scale atomic generator. The company develops a new kind of nuclear reactor that's small, portable, waste, and carbon-negative. Oklo Inc. has a partnership with Argonne National Laboratory. 

Oklo plans to supply provide clean, reliable, affordable energy to customers across the artificial intelligence, data center, energy, defense, and industrial markets, among others.

• Sector(s): Utilities
• Industry: Utilities - Regulated Electric
• Full Time Employees: 78
• Incorporated in 2013 
• Based in Santa Clara, California.
• https://www.oklo.com

IPO: Fri 10 May 2024  after completing its business combination with AltC Acquisition Corp.

 

 

 

Oklo is working with the Idaho National Laboratory (INL) to develop the Aurora Powerhouse 

Oklo anticipates the first commercial Aurora powerhouse will be deployed in 2027. 

Oklo's Aurora powerhouse

The Aurora Powerhouse is a small, modular nuclear reactor designed by Oklo to produce clean, emission-free energy. 

It is a liquid-metal-cooled fast reactor that is designed to operate on both fresh high-assay low-enriched uranium (HALEU) and used nuclear fuel. 

The Aurora Powerhouse is intended to be low-cost, reliable, and have a small footprint.

Features:

• Fuel: Uses recycled high-assay, low-enriched uranium (HALEU)
• Power output: Can produce up to 50 megawatts of electricity
• Heat: Can produce usable heat
• Refueling: Can operate for 40 years without refueling
• Cooling: Uses heat pipes for heat removal
• Core: Buried underground

Applications:

• Data centers: Can power AI, cloud, and enterprise data centers
• Factories: Can power industrial sites
• Communities: Can power communities facing unreliable energy supplies
• Defense facilities: Can power bases

Atlas Energy Solutions (AESI) began trading on the NYSE on Thur 9 Mar 23

Atlas Energy Solutions Inc. provides proppant and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. The company was .

• Sector(s): Energy
• Industry: Oil & Gas Equipment & Services
• Full Time Employees: 371
• Founded in 2017 
• HQ in Austin, Texas
• https://atlas.energy

Borr Drilling Limited (BORR) began trading on the NYSE on Wed 31 Jul 19

Norwegian drilling contractor Borr Drilling Limited offered 5 million shares in an IPO, with the pricing fixed at $9.30 per share.

The common shares continue to be listed under the ticker "BDRILL" on the Oslo Børs.

• Website www.borrdrilling.com
• CEO Svend Anton Maier
• Ticker: BORR

Lockup Period (days) 180
Lockup Expiration 01/27/2020
Quiet Period Expiration 09/09/2019

The Company
Borr is an international offshore shallow-water drilling contractor providing offshore drilling services to the oil and gas industry. It primarily owns, contracts and operates jack-up rigs for operations in shallow-water areas of depth up to about 400 feet.

The company owns 27 rigs, including 26 jack-up rigs and one semi-submersible rig. With the additional eight jack-up rigs the company is expected to take delivery by the end of 2020, it will have a fleet of 30 jack-up rigs.

Borr currently operates in significant oil producing geographies throughout the world, including the North Sea, the Middle East, Mexico, West Africa and Southeast Asia.

Sunnova Energy (NOVA) began trading on the NYSE on Thur 25 July 2019

Sunnova Energy International Inc. provides residential solar and energy storage services in the United States.

• Sector: Technology
• Industry: Solar
• Full Time Employees: 294
• Founded in 2012 and is headquartered in Houston, Texas.
• http://www.sunnova.com

Sunnova Energy priced downsized 14 mln share IPO at $12.00 per share, the low end of the expected $12-13 per share range
Opened for trading at $11.07

Rattler Midstream LP (RTLR) began trading on the Nasdaq on Thur 23 May 2019

Rattler Midstream LP owns, operates, develops, and acquires midstream infrastructure assets in the Midland and Delaware Basins of the Permian Basin in West Texas. The company provides crude oil, natural gas, and water-related midstream services to Diamondback Energy, Inc.
It owns and operates 528 miles of crude oil gathering pipelines, natural gas gathering pipelines, and an integrated water system on acreage that overlays Diamondback's six core Midland and Delaware Basin development areas. The company was formerly known as Rattler Midstream Partners LP.

Sector: Energy
Industry: Oil & Gas Midstream
http://www.rattlermidstream.com
HQ: Midland, Texas.

Bloom Energy (BE) began trading on the NYSE on Wed 25 July 2018

The Silicon Valley company makes fuel-cell energy systems for large corporate campuses and other installations. The company, which emerged with much fanfare and a "60 Minutes" segment in 2010, had an accumulated deficit of more than $2 billion, debt approaching $1 billion and cash on hand of less than $100 million as it approached the IPO.

New IPO Bloom Energy (BE) jumped in its first day of trading Wednesday, after pricing its initial public offering of 18 million shares of Class A common stock at 15 per share.

The Bloom Energy IPO pricing came in at the high end of the expected 13-15 range and gives the company a valuation of $1.6 billion.

The Sunnyvale, Calif.-based company says it uses proprietary solid oxide fuel-cell technology to "convert fuel into electricity through an electrochemical process without combustion at the highest efficiency of any power solution available in the world today."

Shares leapt 66.7% to close at 25.00 on the stock market today. Among other fuel-cell stocks, FuelCell Energy (FCEL) rose 1.5%, Plug Power (PLUG) rallied 2.6%, and Ballard Power Systems (BLDP) added 0.3%.

A curiosity surrounding Bloom is a 2014 settlement with now-shuttered Advanced Equities. The Chicago-based investment firm raised money for the clean-energy company and was in 2012 charged by the SEC with "misleading investors in private equity offerings."

But as the Wall Street Journal noted Tuesday, Advanced Equities co-founders Dwight Badger and Keith Daubenspeck will receive 200,000 shares of Bloom Energy after the IPO. They threatened legal action against Bloom in 2013, pointing fingers at the company for allegedly misleading them and prompting the SEC sanctions, according to the outlet, citing people familiar with the matter.

News outlet Axios said in June that a source close to Bloom has "no idea" why the clean-energy firm would offer Badger and Daubenspeck further compensation.

Bloom reportedly says the pair's claims lack merit.

Liberty Oilfield Services (LBRT) began trading on the NYSE on 12 January 2018

Fracking contractor raises $194.5 million with a market value of $2.6 billion

• Founded: 2016
• HQ: Denver, CO
• libertyfrac.com
• 12.73 million shares at $17 

Description

Liberty Oilfield Services Inc is a United States-based oilfield service company company. The Company focused on offering hydraulic fracturing, and engineering services. Its aim is to provide frac design and execution with a real-data focus to optimize field development and improve production enhancement strategies for its clients. The Company provides its services primarily in the Permian Basin, Denver-Julesburg Basin, the Williston Basin and the Powder River Basin. The Company’s fleets offer the custom fluid systems, perforating strategies and pressure analysis techniques.

Key stats and ratios

	Q3 (Sep '17)	2016
Net profit margin	14.41%	-16.16%
Operating margin	15.16%	-14.52%
EBITD margin	-	-4.20%
Return on average assets	32.73%	-16.17%
Return on average equity	67.71%	-33.36%
Employees	1,859

Ranger Energy Services (RNGR) began trading on the NYSE on 11 August 2017

Description

Ranger Energy Services, Inc. is an independent provider of high-specification (high-spec) well service rigs and associated services in the United States. The Company focuses on unconventional horizontal well completion and production operations. The Company operates through Well Services and Processing Solutions segment. Well Services segment provides high-spec well service rigs and complementary equipment and services in the United States, with a focus on unconventional horizontal well completion, workover and maintenance operations. Processing Solutions segment engages in the rental, installation, commissioning, start-up, operation and maintenance of MRUs, NGL stabilizer units, NGL storage units and related equipment. The Company also offers full transportation, turn-key mobilization services, installation and ongoing operation services in the field. The Company's turn-key mobilization services include in-bound transportation and site offloading.

Address

800 Gessner Rd Ste 1000
HOUSTON, TX 77024-4257
United States

Website 

http://www.rangerenergy.com

Key stats and ratios

	Q2 (Jun '17)	2016
Net profit margin	-17.80%	-9.47%
Operating margin	-14.54%	-8.52%
EBITD margin	-	3.98%
Return on average assets	-14.81%	-5.27%
Return on average equity	-22.28%	-6.54%
Employees	663

Contura Energy (CTRA) postpones IPO

• BRISTOL, Tenn., January 22, 2021 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel industry, changed its name, effective February 1, 2021, to Alpha Metallurgical Resources, Inc (NYSE: AMR). (The company has been shifting its focus away from thermal coal to the metallurgical coal side of the business.)

Contura Energy postpones IPO; was expected to price 6.0 million shares within a range of $23-$27

The company's principal selling stockholders unanimously determined that proceeding with the offering under current market conditions would undervalue the company. Accordingly, the company has withdrawn its registration statement on file with the U.S. Securities and Exchange Commission (SEC).

• CTRA is a miner of met and steam coal with its operations comprising of six mining complexes.
• The IPO was expected to price last night and open for trading this morning.
• The lead underwriters on the deal were Citigroup and Jefferies.

Hess Midstream Partners (HESM) began trading on the NYSE on 5 April 2017

Hess Midstream Partners LP is a fee-based, growth-oriented traditional master limited partnership that owns, operates and develops midstream infrastructure assets.
Hess Midstream Partners LP, an MLP formed by Hess and GIP to own gathering/processing assets in the Bakken, raised $340 million by offering 14.8 million shares at $23, above the range of $19 to $21. The company had originally planned to sell 12.5 million shares before upsizing the deal.

• Headquarters: Houston, TX
• Founded: January 17, 2014
• Div/yield 0.31/5.82
• hessmidstream.com

Description

Hess Midstream Partners LP is a fee-based, traditional master limited partnership formed to own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The Company's assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota (collectively referred as the Bakken). It operates its business through three segments: gathering; processing and storage; and terminaling and export. The Company’s gathering business consisted of its 20% controlling economic interest in Gathering Opco, which owns North Dakota natural gas, natural gas liquids and crude oil gathering systems. The Company’s processing and storage business consisted of its 20% controlling economic interest in the Tioga Gas Plant and its 100% interest in the Mentor Storage Terminal. The Company’s terminaling and export business consisted of its 20% controlling economic interest in Logistics Opco.

Key stats and ratios

	Q3 (Sep '17)	2016
Net profit margin	52.15%	40.47%
Operating margin	52.42%	40.47%
EBITD margin	-	60.02%
Return on average assets	11.73%	8.37%
Return on average equity	11.60%	9.52%
Employees	186

Jagged Peak Energy (JAG) began trading on the NYSE on 27 Jan 2017

• Oil & Gas Exploration & Production

Extraction Oil & Gas (XOG) began trading on the Nasdaq on 12 Oct 2016

Extraction Oil & Gas, Inc., an independent oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquid reserves in the Rocky Mountain region, primarily in the Wattenberg Field of the Denver-Julesburg (DJ) Basin of Colorado.

• Sector: Energy
• Industry: Oil & Gas E&P
• Full Time Employees: 227
• Founded in 2012
• Headquartered in Denver, Colorado.
• http://www.extractionog.com

• 2 weeks later:

CNX Coal Resources (CNXC) began trading on the NYSE on 1 July 2015

• CNX Coal Resources (CNXC) raised $75 million by offering 5 million shares at its expected price of 15, and was up more than 1%. 
• The company is a master limited partnership recently formed by Consol Energy (CNX) to manage and develop thermal coal operations in Pennsylvania.
• Div/yield 0.51/13.67

• Charts 25 March 2017 (1 year 9 months after IPO)

EQT GP Holdings (EQGP) began trading on the NYSE on 12 May 2015

EQT GP Holdings, LP is a limited partnership formed to own partnership interests in EQT Midstream Partners, LP (EQM), a growth-oriented limited partnership formed by EQT Corporation (EQT) to own, operate, acquire and develop midstream assets in the Appalachian Basin. EQT Midstream Partners, LP provides midstream services to EQT Corporation and third-party companies through its strategically located transmission, storage, and gathering systems that service the Marcellus and Utica regions. EQT Midstream Partners, LP owns 700 miles and operates over 200 miles of federal energy regulatory commission (FERC)-regulated interstate pipelines and also owns over 1,500 miles of high- and low-pressure gathering lines. The Company's projects include Equitrans Expansion, Mountain Valley Pipeline and Ohio Valley Connector.

Address

625 Liberty Ave Ste 1700
PITTSBURGH, PA 15222-3114
United States

Website 

https://www.eqtmidstreampartners.com

Green Plains Partners LP (GPP) began trading on the NASDAQ on 26 June 2015

Green Plains Partners (NASDAQ:GPP), a master limited partnership that owns and operates ethanol transportation and storage assets.

Green Plains Partners LP owns, operates, develops and acquires ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses. The Company operates through four segments: production of ethanol and distillers grains (ethanol production); corn oil production; grain handling and storage and cattle feedlot operations (agribusiness), and marketing, merchant trading and logistics services for self-produced and third-party ethanol, distillers grains, corn oil and other commodities (marketing and distribution). The Company's parent company is Green Plains Inc. The Company owns and operates approximately 27 ethanol storage tanks. Its ethanol storage assets are engaged in storing and loading the ethanol that its parent produces at its ethanol production plants. It provides terminal services and logistics solutions through its fuel terminal facilities. Its transportation assets include a leased railcar fleet of approximately 2,200 railcars.

Address

450 Regency Pkwy Ste 400
OMAHA, NE 68114-3701
United States

Penntex Midstream Partners (PTXP) began trading on the NASDAQ on 4 June 2015

PennTex Midstream Partners, LP is a limited partnership focused on owning, operating, acquiring and developing midstream energy infrastructure assets in North America. The Company's Phase I assets include Lincoln Parish Plant, which is a 200 million cubic feet per day (MMcf/d) cryogenic natural gas processing plant located near Arcadia, with on-site NGL storage and truck loading facilities; PennTex Gathering Pipeline, which is a 35-mile natural gas gathering system, consisting of 30.3 miles of 12 inch pipeline, 1.4 miles of 20 inch pipeline and 3.1 miles of 24 inch pipeline that provides producers access to its processing plants and to the Minden Plant, with available capacity of 400 MMcf/d to its processing plants and 50 MMcf/d to the Minden Plant and PennTex Residue Gas Pipeline, which is a one mile, 24 inch residue natural gas header with 400 MMcf/d of capacity that provides market access for residue natural gas from the Lincoln Parish Plant for delivery to third-party pipelines.

Address

Suite 300, 11931 Wickchester L
HOUSTON, TX 77043
United States

Tallgrass Energy (TEGP) began trading on the NYSE on 7 May 2015

• Tallgrass is a dividend-yielding limited partnership formed by Tallgrass Energy Partners (TEP), which has interests in natural gas transportation and storage.
• Tallgrass Energy (TEGP) makes the notable list for being the largest IPO of the quarter. It raised $1.2 billion, selling 41.5 million shares at 29, above its expected range of 24 to 27.
• website: http://tallgrassenergylp.com

Address

4200 W 115th St Ste 350
LEAWOOD, KS 66211-2733
United States

Key stats and ratios

	Q4 (Dec '16)	2016
Net profit margin	37.98%	40.16%
Operating margin	43.77%	42.00%
EBITD margin	-	57.49%
Return on average assets	7.00%	7.41%
Return on average equity	16.69%	7.96%

FMSA Holdings (FMSA) began trading on the NYSE on 3 October 2014

• Fairmount Santrol Holdings, Inc. (FMSA), now known as Covia Holdings Corporation (CVIA), was acquired by Brookfield in a merger, with shareholders receiving $54.87 per share, a 30% premium to the unaffected closing price. 

Description

FMSA Holdings Inc. is a provider of sand-based proppant solutions. The Company is engaged in development of proppants used by oilfield service and exploration and production (E&P) companies to enhance the productivity of their oil and gas wells. The Company is focused on environmental stewardship, and ten of its facilities generate zero waste to landfills. As of December 31, 2013, it has a sand reserves and processing asset bases in the industry, including 798.2 million tons of proven mineral reserves, 11 active sand processing facilities with 12.3 million tons of annual sand processing capacity, a resin manufacturing facility and 11 coating facilities with 2.4 million tons of annual coating capacity.

Address

8834 Mayfield Rd
CHESTERLAND, OH 44026-2690
United States 

Website 

http://fairmountsantrol.com

Key stats and ratios

	Q3 (Sep '14)	2013
Net profit margin	14.50%	10.59%
Operating margin	25.27%	21.87%
EBITD margin	-	26.88%
Return on average assets	15.39%	10.66%
Return on average equity	-	-
Employees	1,113