Dynamic Offshore Resources, an explorer, producer and developer of oil and natural gas properties, filed on Friday with the SEC to raise up to $400 million in an initial public offering. Since their commencement of operations in 2008, Dynamic Offshore has completed 8 material acquisitions and currently has interests in over 200 productive wells and a separate 200 offshore oil and gas leases located in the waters of the Gulf of Mexico. The Houston, TX-based company booked $387 million in sales for the 12 months ended June 30, 2011 and plans to list on the New York Stock Exchange under the symbol DOR. Citigroup, Credit Suisse and Deutsche Bank Securities are the underwriting the offering. Terms and pricing have yet to be announced.
Dynamic Offshore concludes a busy week for the IPO world as they are the tenth company to register with the SEC to be publically listed in the past four days. Preceding Dynamic Offshore were Community Choice Financial (CCFI), Laredo Petroleum (LPI), BrightCov (BCOV), Genomatica (GENO), Inergy Midstream LLC (NGRM), JIVE Software (JIVE), Angie's List (ANGI), Eloqua Limited (ELOQ), and Bazaarvoice (BV).
