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Energy’s Biggest U.S. IPO Year-to-Date: Extraction Oil & Gas Lists on Nasdaq .

Amidst the energy sector’s rally, Extraction Oil & Gas celebrated their initial public offering (IPO) on Nasdaq, marking the first E&P to go public in more than two years.

Energy’s Biggest U.S. IPO Year-to-Date: Extraction Oil & Gas Lists on Nasdaq

Extraction Oil & Gas [Nasdaq: XOG] joined the Nasdaq community of energy innovators in its IPO launch on October 12. The Denver, Colorado-based energy company focuses on the exploration and production of oil and gas reserves in the Rocky Mountains, powering economic growth in the region and state. Extraction’s trading debut marks the first U.S. E&P IPO. It is one of the largest energy IPOs since 2015 and it is the largest energy IPO year-to-date based on proceeds raised and market capitalization.

Mark Erickson, Chairman and CEO of Extraction Oil & Gas said, “We founded this company with the belief that we could become a leader in innovative and responsible oil and gas development in Colorado and being here today is evidence that we have achieved that objective and even beyond.”

Extraction Oil & Gas raised $633 million, offering 33.3 million shares at $19, above the marketed price range of $15 to $18. They opened last Wednesday morning at $22.75 and traded throughout the day in that range.

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The energy sector has been rallying in the second half of the year and has been the best performing sector in the S&P 500 this year, up 15.9%. After closing out a successful first day of trading, Extraction Oil & Gas raised the biggest initial public offering in the U.S. energy industry this year, according to Bloomberg.

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