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US oilfield service firms dust off IPO plans as crude prices surge

Published Mon, Jan 8, 2018 · 09:50 PM
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Houston

US oilfield service companies are gearing up for initial public offerings, according to regulatory filings and analysts, after several shelved equity sales last year during a weak period for oil prices.

Oil is trading near its highest level since early 2015, fuelling demand for service firms to bring new shale wells to production. Energy executives surveyed last month said they would increase drilling sharply at prices above US$60 a barrel. Crude recently traded at about US$61.50 a barrel.

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