U.S. Energy Corp.'s production optimization company Flowco Holdings (FLOC.US) applies for listing in the U.S. and plans to raise $300 million.

Flowco Holdings (FLOC.US), which provides optimized oil and gas well production equipment and services, filed for its initial public offering (IPO) with the U.S. Securities and Exchange Commission last Friday, expecting to raise $300 million. Based in Houston, Texas, the company was formed this year through the merger of Flowco Production Solutions, Estis Compression, and Flogistix. It claims to be a leading provider of production optimization, artificial lift, and methane emissions reduction solutions in the oil and gas industry. Its products and services enable energy producers to maximize profitability and the lifespan of active wells. Core products include high-pressure gas lift, conventional gas lift, plunger lift, and steam recovery solutions, all covered by its proprietary digital system. The products and services aim to optimize production and counteract the natural decline in production over time experienced by oil wells. Flowco's predecessor was founded in 1996. For the 12 months ending September 30, 2024, its largest business Estis had sales of $425 million. The company plans to list on the New York Stock Exchange under the ticker symbol FLOC. Flowco Holdings secretly filed the application on August 30, 2024. J.P. Morgan, Jefferies, Piper Sandler, Evercore ISI, BMO Capital Markets, and Pickering Energy Partners are the joint bookrunners for the deal. The company has not disclosed pricing terms yet.