Tapstone Energy, a Blackstone-backed oil and gas E&P focused on Oklahoma's Anadarko Basin, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $400 million.
The Oklahoma City, OK-based company was founded in 2013 and booked $189 million in sales for the 12 months ended December 31, 2016. It plans to list on the NYSE under the symbol TE. Tapstone Energy filed confidentially on December 22, 2016. BofA Merrill Lynch and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
