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Private SCOOP / STACK E&P to IPO in 2018
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Freshly-minted Roan Resources (a new E&P company born from a business combination between LINN Energy and Citizen Energy II LLC) is looking to hit the IPO market in 2018, according to reports. LINN and Citizen each received 50% of the equity interest in Roan upon its inception.
Roan will focus its operations on the Mid-Continent region of the U.S.
Capital StructureRoan will have a new secured revolving credit facility with an initial borrowing base of $200 million.
AssetsRoan has approximately 140,000 total net acres in the STACK / Merge plays, spanning Canadian, Carter, Cleveland, Garbin, Grady, Kinfisher, McClain and Stephens county, Oklahoma (acreage map below).
Roan currently operates five rigs in the Merge with net production of approximately 28,000 BOE/d at closing and forecasts…
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