Extraction Oil & Gas (XOG) IPO Opens Up 20%

October 12, 2016 10:40 AM EDT

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Today's IPO for Extraction Oil & Gas, Inc. (NASDAQ: XOG) opened for trading at $22.75 after pricing 33,333,333 shares of its common stock at $19.00 per share. Extraction was initially offering the shares at an estimated price range of $15.00 to $18.00.

Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Citigroup Global Markets Inc., KeyBanc Capital Markets Inc., RBC Capital Markets, LLC, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are also acting as book-running managers for the offering.

Extraction is an independent oil and gas company focused on the acquisition, development and production of oil, natural gas and natural gas liquids reserves in the Rocky Mountains, primarily in the Wattenberg Field of the Denver-Julesburg Basin of Colorado.

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