Athlon Energy, an oil and gas company headed by former Encore Acquisition execs that was created in August 2010, could raise more than $300 million with a public stock offering this week, according to a filing with the Securities and Exchange Commission.Fort Worth-based Athlon’s operations include more than 200 wells in the Permian Basin of West Texas with average daily production equivalent to 12,000 barrels of oil in June, according to the filing. The company in 2012 earned $14.7 million on revenues of $157 million, the filing states.The company has been backed since its launch by Apollo Global Management. In April, Athlon said it raised $500 million in a private debt placement. Athlon’s CEO is Bob Reeves, 43. He previously was chief financial officer of Fort Worth-based Encore Acquisition and Encore Energy Partners, two affiliated companies run by veteran Fort Worth oilman Jon Brumley that were acquired in March 2010 by Denbury Resources. Kevin Treadway, 48, who headed Encore’s land operations, is senior vice president of business development and land.Athlon plans to sell 15.8 million shares for $18 to $20 a share, the SEC filing says. It will use the proceeds to repay debt, fund its drilling program and for other corporate purposes, including acquisitions.If the IPO is oversubscribed, Apollo Funds also may sell up to 2.4 million shares of its own holdings if the demand is there. The issue is expected to be priced on Thursday.After the issue, the company will have 82 million shares outstanding, giving it a market value of nearly $1.6 billion at $19 a share, the mid-point of its estimated issue price range. Its stock ticker symbol on the New York Stock Exchange will be ATHL.Apollo will own about two-thirds of the company’s shares upon the IPO’s completion, expected this week. Apollo representatives will hold three of five board seats. Athlon’s offices are at 420 Throckmorton St. in downtown Fort Worth.Athlon is the second energy-related Tarrant County company to go public this year. In May, Southlake-based Emerge Energy Services raised $127.5 million when it issued 7.5 million shares (ticker: EMES) at $17 a share.Emerge Energy provides sand and proppands for hydraulic fracturing and refines and distributes fuels. It was backed by Insight Equity, a Southlake investment firm.
Jim Fuquay, 817-390-7552 Twitter: @jimfuquay