Bounty Minerals, which owns natural gas mineral interests in the Appalachian Basin, withdrew its plans for an initial public offering on Thursday. It originally filed in November 2022 with a proposed deal size of $100 million.
The company owns, acquires, and manages mineral interests in the Appalachian Basin, and currently holds approximately 65,000 net mineral acres. Bounty Minerals is primarily focused on acquiring non-producing minerals in developing shale plays. Its premier operators include Antero Resources, Ascent Resources, CNX Resources, EQT, Gulfport Energy, Range Resources, and Southwestern Energy.
The company is led by Executive Chairman and Founder Jon Brumley and CEO Tracie Palmer.
The Fort Worth, TX-based company was founded in 2012 and booked $92 million in sales for the 12 months ended September 30, 2023. It had planned to list on the NYSE under the symbol BNTY. Raymond James and Stifel were set to be the joint bookrunners on the deal.
