Oil and gas service provider Flowco Holdings (FLOC.US) priced its IPO at $24 per share, raising $427 million above the expected range.

Flowco Holdings (FLOC.US), a provider of equipment and services to optimize oil and gas well production, will be listed on the New York Stock Exchange on January 16th, Eastern Time, under the ticker symbol FLOC. The company issued 17.8 million shares at $24 each, raising $427 million, which is higher than the previously announced price range of $21 to $23. Flowco is the first large-scale public company to go public in 2025 and is also the largest energy sector IPO since May 2019; however, this title is expected to be short-lived as the liquefied natural gas producer Venture Global (VG.US) is expected to raise $2.2 billion in their IPO next week. Flowco is also the first major energy IPO to price above the range since 2018; the previous six deals all priced below the midpoint. Since its IPO in June 2024, Landbridge (LB.US) has had a breakthrough performance and become a notable winner in the field. Flowco was formed last year through the merger of Flowco Production Solutions, Estis Compression, and Flogistix. The company positions itself as a leading supplier of optimization solutions for the oil and gas industry, including artificial lift and methane emission reduction solutions. Their products and services enable energy producers to maximize profitability and the lifespan of active wells. Their core products include high-pressure gas lift, conventional gas lift, plunger lift, and steam recovery solutions, all covered by their proprietary digital system. Their offerings aim to optimize production and offset the natural decline in output that oil wells experience over time. Morgan Stanley, Jefferies, Piper Sandler, Evercore ISI, BMO Capital Markets, Pareto Securities, and TPH & Co. served as joint bookrunners in this transaction.