ProFrac Holding, which provides hydraulic fracturing and completion services to upstream E&Ps in North America, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
ProFrac is a vertically integrated provider of hydraulic fracturing, completion services, and other complementary products and services to upstream oil and gas companies engaged in the exploration and production (E&P) of North American unconventional oil and natural gas resources. Its operations are primarily focused in the Appalachian, East Texas/Louisiana, and Permian Basins, and consist of three segments: stimulation services, manufacturing, and proppant production.
The Willow Park, TX-based company was founded in 2016 and booked $656 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol PFHC. ProFrac Holding filed confidentially on September 9, 2021. J.P. Morgan, Piper Sandler, and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
