Flowco Holdings (FLOC.US) IPO priced at $24/share, raising $427M above the range.

Flowco Holdings(FLOC.US), a provider of equipment and services to optimize oil and gas well production, is set to go public on the NYSE on January 16 at 9:30 a.m. ET under the ticker FLOC. The company priced its 17.8 million shares at $24, raising $427 million, above the previously indicated range of $21 to $23. Flowco is the first large-scale IPO of 2025, and the largest energy IPO since May 2019; however, the title is expected to be short-lived, as liquefied natural gas producer Venture Global(VG.US) is expected to raise $2.2 billion in its IPO next week. Flowco is also the first large energy IPO to price above the range since 2018, when six transactions priced below the midpoint; Landbridge(LB.US) broke out since its IPO in June 2024, becoming a notable winner in the sector. Flowco was formed last year through the merger of Flowco Production Solutions, Estis Compression, and Flogistix. The company claims to be a leading supplier of production optimization, artificial lift, and methane reduction solutions in the oil and gas industry. Its products and services enable energy producers to maximize profitability and the lifespan of active wells. Its core products include high-pressure gas lift, conventional gas lift, plunger lift, and steam recovery unit solutions, covered by its proprietary digital system. Its products and services are designed to optimize production and offset the natural decline in production that wells experience over time. Morgan Stanley, Jefferies, Piper Sandler, Evercore ISI, BMO Capital Markets, Pareto Securities, and TPH & Co. are acting as joint bookrunners on the deal.