Flowco
Assembly Line
Oilfield services provider Flowco shows revenue surge in US IPO filing
Oilfield services provider Flowco showed a surge in revenue when it filed paperwork for a U.S. initial public offering, becoming the latest to capitalize on a recent revival in investor appetite for newly listed stocks. Flowco did not reveal the number of shares it intends to sell or the potential size of its offering, but Reuters reported in September, citing sources, it could seek a valuation of as much as $2 billion.
Flowco’s business is divided into two segments - production solutions and natural gas technologies. It saw total revenue surge to $349.3 million in the nine months ended Sept. 30, versus $167.9 million a year earlier.