IPO Report

Concho Resources IPO

Concho Resources
Proposed symbol CXO
IPO date not yet announced

Concho Resources explores and develops properties, located primarily in the Permian Basin region of eastern New Mexico and the western area of Texas, for the production of oil and gas. It also owns properties in North Dakota and Arkansas. More than half of the company's 467 billion cu. ft. in proven reserves is made up of crude oil while the rest consists of natural gas. Concho Resources gets two-thirds of its sales from crude oil. Customers include such energy marketers as Navajo Refining Company (53% of sales) and DCP Midstream (18%). The company has over 80 producing wells in operation. Chase Oil owns 48% of the company.

Encore Energy Partners IPO

Encore Energy Partners
Proposed Symbol ENP
IPO date not yet announced

Encore Energy Partners was formed by Encore Acquisition Company, the partnership plans to acquire, exploit, and develop existing oil and natural gas properties. Encore's primary assets consist of oil and natural gas properties in the Elk Basin of Wyoming and Montana, and in West Texas' Permian Basin. With proved reserves of 22.2 million barrels of oil equivalent the company's mature fields and predictable production profiles will theoretically provide consistant quarterly cash distributions for investors, with increases in the future as the company adds to its properties. Encore Energy plans to utilize its close ties to Encore Acquisition Company for future acquisitions.

SandRidge Energy IPO

SandRidge Energy

Proposed Symbol SD

IPO date not yet announced

SandRidge Energy explores for and produces oil and natural gas, mainly in West Texas. The company also owns and operates drilling rigs and a related oilfield services business. In addition it operates gas gathering, marketing, and processing subsidiaries. Its 87%-owned PetroSource subsidiary operates CO2-treating and transportation facilities and has tertiary oil recovery operations. SandRidge Energy also has oil and gas acreage in Oklahoma's Anadarko and Arkoma Basins, and in Colorado's Piceance Basin. It has estimated net proved reserves of 1 trillion cubic ft. equivalent. CEO Tom Ward holds 34% of the company.